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Where Taxpayers and Advisers Meet

UK personal savings allowance - overseas account

jakky88
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

Hi,

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?

maths
Posts:8507
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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