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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
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Experience:  International tax
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I've just retired and live in the Philippines, prior to

Resolved Question:

Hi. I've just retired and live in the Philippines, prior to that I worked in Singapore for 12 years and paid tax directly in Singapore under the dual taxation agreement with the UK. I had a letter from HRMC confirming I was exempt from UK tax. My question is this. I have accumulated savings from my salary whilst in Singapore and still have my Singapore bank account, I'd like to understand if the savings would be subject to UK tax.
Submitted: 1 year ago.
Category: Tax
Expert:  TaxRobin replied 1 year ago.
HelloIf you’re not UK resident, you won’t have to pay UK tax on your foreign income. Foreign income includes interest in a foreign account.If you’re UK resident, you’ll normally pay tax on your foreign income. You most likely had received a certificate of residence, which allowed you to avoid being taxed twice on your foreign income, eg dividends, interest or profits.If you have retired in the Philippines and are not a UK resident you are not taxed in the UK on your savings interest.
Expert:  TaxRobin replied 1 year ago.
If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed).
Customer: replied 1 year ago.
Thanks, ***** ***** be okay then as I've been non resident for 14 years. Should I declare the savings on a UK tax return presuming I need to complete one now I'm in the Philippines that has no dual taxation agreement with the UK.
Expert:  TaxRobin replied 1 year ago.
If you were a UK resident and had to file a UK return then interest earned while a resident, yes, declare that amount.If you have remained a nonresident then you should not need to complete a UK return unless you have UK sourced income to declare.
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Expert:  TaxRobin replied 1 year ago.
My goal is to provide you with excellent service today. It’s been a pleasure working with you and I hope to assist you again soon!