I am a UK citizen now and have A few NRE accounts & Fixed deposits in India which are earning interest yearly. This Accounts were opened in India before I came to the UK or became a Citizen of UK. No money from the UK is being transferred to India. The Money was deposited years ago when I was a NRI and a Indian citizen/passport. That money has been left unused in the accounts and just earning interest. No Tax is payable in India as it is a NRE account.
Now do I need to declare this the UK gov and pay tax on the interest earned in India? I have not put any money into the account from the UK or withdrawn from it into the UK. I just use it as spending money when I in India for daily expenses.
Please do advise.
Thanks, Pramod
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