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TonyTax
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I am an irish resident purposes since 2007 I have

Resolved Question:

i am an irish resident for tax purposes since 2007
I have funds in a Jersey bank which were earned on a NT tax code prior to 2007. I would like to move the funds to a bank account I have held in the UK since 1985. If I take this action would the funds moved to a main land UK bank be liable for tax ?
Submitted: 8 months ago.
Category: Tax
Expert:  TonyTax replied 8 months ago.
Hi. If you are non-UK resident for tax purposes, you can only be taxed in the UK on UK source income. The money you saved whilst you were working abroad, albeit for a UK employer on an NT tax code, will not be taxable in the UK if you transfer it to a UK bank account now. Take a look at the notes here. Even if you had sent money back to the UK to pay bills etc at the time you were working on an NT tax code, it would not have been taxable in the UK so long as you were not UK tax resident. I hope this helps but let me know if you have any further questions.
Customer: replied 8 months ago.
I am an irish citizen and currently a tax resident in Ireland since 2007.I just wanted to confirm residency or citizenship does not effect your answer. I still work for the same company but since 2007 I am based and tax resident in Ireland (Eire)
All the money in the account was saved during the period when I help a Non resident UK status.
Expert:  TonyTax replied 8 months ago.
If you were resident in the UK, you would pay UK tax on your salary from the UK employer. The point is you are non-UK resident now and so you should pay no UK tax on monies earned whilst you were non-resident some time ago, nor on monies earned now whils you are still non-UK resident, regardless of placing it in a UK bank account.
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15759
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
TonyTax and other Tax Specialists are ready to help you
Customer: replied 8 months ago.
thank you much appreciated
Expert:  TonyTax replied 8 months ago.
Thanks.

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