Recent content by blueswallows

According to the logic, a normal UK resident (domiciled), for example if he makes GBP10 amount of bank interest from his UK bank last year, he will then need to file self assessment even though he has no other income. How is this admin work sensible? Sad to say but this country seems to be...

@Martin Everson Am I understanding this correctly - if I choose to be taxed on worldwide income rather than RND (since I have close to 0 amount of interest, and personal allowance of interest income is GBP1000 per year), I can remit my capital to uk without having to declare it?

Sorry to clarify my question, do I need to file a tax return and elect to be RND to be able to remit clean capital over?

@andrewdb out of interest how would hmrc find out about your client's mixed capital? was it because he had to prove source of funds during the purchase? or because he had to declare his foreign gains during self assessment subsequently?

Thanks folks, still a bit confused. I've been in the uk for a couple of years so I'm a resident. Do I need to file a tax return simply because I remit clean capital here? what is there to file? Is it a must for every immigrant to file such return after a year of their arrival? Is it a must to...

I have heard horror stories of people being offered incorrect advice by the "professionals", I also had bad experience back at home. I should perhaps reconsider. Sorry for turning this thread into a personal story pen#%%&

Reasons why I'm concerned : 1. I have not worked very much here hence never paid tax 2. My pre-residence capital was sitting in my home country accounts all the time including during the CRS reported year but it was remitted here before the end of the calendar year 3. I'm due to renew my visa in...

@Martin Everson Thanks a lot for your answers. You're right I am completely clueless when it comes to finances, capital etc. where I came from has a very simple system so this is all a bit stressful. Hopefully not too late to educate myself now. I got paid via PAYE for a while but never filed...

@Martin Everson I've just read that HMRC received info of 5.6 million overseas accounts last year and is now sending nudge letters. Are you aware if there is any threshold on account balance/ interest or they just send it to everyone.

Thanks for your reply @Martin Everson, I have further questions if you dont mind: 1. I did use that account to remit my pre-residence savings to the uk, never realized I had to declare anything. Did I have to declare that account if I only had savings accrued from before my relocation? There...

Hi folks, have been bothered by recent CRS episode and would like to seek some clarity. I'm UK non-domiciled and had maintained personal bank accounts in my home country after the relocation. My UK address triggered bank scrutiny and was asked for self certification. As I never had to pay tax in...