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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

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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.
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.
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 2 years 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.
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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