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  • RE: Remittance

    Hi, How about saving interest earned from a Hong Kong bank account? Is it taxable in the UK? If so, it is also subject to the savings allowance under the UK rules. Correct? Thank you. Best, Ming
  • RE: Remittance

    Hi, As said, I don't need to pay on the transfer of capital, but ” if this then generates any interest or dividends then tax needs to be paid on that.” As there is not much interest generated, the question is that is there tax allowance in this regard? Best, Ming
  • Remittance

    Hi, I'm a BNO Visa holder. I've transferred over 280K pounds from my Hong Kong bank account to that of the UK for buying a property to live and for cost of living in the UK. Is there any tax there that I need to pay for? Thank you! Best, Ming
  • RE: BNO

    Hi, I got a BNO Visa for a 5 years stay in the UK, arriving on 3 Sept. According to the tax rules, I'll become a tax resident next April, once I've been staying in the UK for 183 days. Here, 30000 pounds have been trasferred from a HK bank into a UK bank recently for cost of living in the UK. Is this taxable that I have to report it to HMRC by submitting a tax return next April? If so, how much is it taxed? As it is my cost of living, any relief can i claim to reduce this taxation. Does remittance basis help in this regard? Please advise. Thank you!