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Where Taxpayers and Advisers Meet

UK personal savings allowance - overseas account

Posts: 1
Joined: Tue Dec 31, 2019 1:51 pm

UK personal savings allowance - overseas account

Postby jakky88 » Tue Dec 31, 2019 2:13 pm


I am a UK resident and I hold some of my UK income (that is already taxed- PAYE) in an overseas savings account. The interest earned on this account is less than £500 a year. My income tax band is basic rate, can I use my personal savings allowance for this interest earned from the overseas bank account? Do I need to include this on my self assessment tax return?

Posts: 7901
Joined: Wed Aug 06, 2008 3:25 pm

Re: UK personal savings allowance - overseas account

Postby maths » Sun Jan 12, 2020 5:15 pm

Yes and yes.

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