Hi,
I am a British expat, living and working in Singapore for the last 4 years. I have a property in the UK that I rent out and have a UK mortgage on the property. I have decided that I would like to pay off my UK mortgage with savings I have in Isle of Man/Jersey accounts which I accumulated from my work in Singapore over the last 4 years. However, I want to understand what my UK tax position is if I take this action - will I have to be taxed on the monies I remit into the UK to pay off the UK mortgage? Do note that each year I do file UK tax returns for earnings I make in the UK on property rental, savings and UK shares.
Any advise on this matter would be much appreciated.
Thanks
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