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Where Taxpayers and Advisers Meet

My previous savings

Posts: 1
Joined: Thu Aug 29, 2019 8:56 am

My previous savings

Postby mkms1981 » Thu Aug 29, 2019 8:59 am

Hello , I am a doctor , I am from Palestine , I was working in Dubai . I moved recently to UK with my family to work . Now I am working in NHS last one week only . I have about 30,000 GBP money saving in my bank in Dubai . If I want to transfer this amount of money to my bank in UK , will I need to pay tax for this money ?

Posts: 951
Joined: Fri May 16, 2014 3:47 pm

Re: My previous savings

Postby AGoodman » Fri Aug 30, 2019 11:49 am

No. You were not UK resident when you earned it so it can never be subject to income/capital gains tax.

The location of money usually makes no difference except in limited circumstances which are unlikely to apply to you.

Posts: 153
Joined: Mon Mar 28, 2011 2:02 pm

Re: My previous savings

Postby jason13 » Sat Aug 31, 2019 10:32 pm

... but if interest is earned in the bank account in Dubai (since moving to the UK), that has to be declared in the UK.

Posts: 7692
Joined: Wed Aug 06, 2008 3:25 pm

Re: My previous savings

Postby maths » Sat Aug 31, 2019 10:59 pm

Are you UK domiciled or non-UK domiciled?

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