Thank you for your question.
If you are resident in the Netherlands for tax purposes and are paying tax in that country on your earnings and wish to transfer some savings into the UK account to pay off your mortgage here, transfer of capital would be out of the scope of UK income tax.
It is only the income arising in the UK that would be subject to UK income tax.
I presume you are not non resident in the UK for tax purposes.
I hope this is helpful and answers your question.
If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
If you spend 183 or more days in the UK in the tax year then you resident in the UK for tax purposes.
In that case your worldwide income would be chargeable to UK income tax.
Under DTA you would be able to claim foreign tax credit relief for tax suffered in the Netherlands.
More information on this can be found on RDR3 (basic statutory residence test - basic rule on page 8) here
I hope this is helpful. You are requested to reconsider your rating.
Thank you for your reply.
Transfer of capital (that is savings) would not be subject to UK tax as by definition savings are taxed income in the first place.
You don't report transfer of capital on your tax return.
You should however alert your bank in the UK to comply with money laundering regulations.
Your reconsideration of the rating would be greatly appreciated.
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