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Where Taxpayers and Advisers Meet

Moving funds from SA to UK

saexpat
Posts:1
Joined:Wed Jan 17, 2018 5:54 pm
Moving funds from SA to UK

Postby saexpat » Wed Jan 17, 2018 5:59 pm

I have had funds invested in South Africa (where interest has been capitalised and I pay tax on interest). I since moved to the UK where I work (self employed) and would like to bring the funds from SA to buy a property. What are the tax implications?

AmanSood
Posts:216
Joined:Mon Jan 09, 2017 4:12 pm

Re: Moving funds from SA to UK

Postby AmanSood » Fri Jan 19, 2018 11:10 pm

If the foreign funds you invested were earned before you were UK tax resident and any subsequent interest earned overseas has been subject to tax in the UK i.e. you have declared all your foreign income in the UK whilst you have been UK tax resident then there should be no UK tax implications.
Advising on UK employment, expatriate and personal taxes
aman.sood@e-taxconsulting.com.
+44 (0) 207 846 0155


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