non resident plus taxes

beachwalk

Hello to all,

I haven`t been resident in UK for nearly 30 years but I have savings there which of course earn interest but I don't pay tax.

It's only now that I've realised I should sort this out. Can I pay tax on the money in the UK being a non UK resident and remaining so?

Is it better to pay the tax where I live (Spain). Last question do you pay tax on the savings or just the interest?

As you can see I'm rather green on these subjects!

Thanks

HappyMJ

Is the interest paid to you "gross"? It's not usual for them to do that unless you have filled out a form. So, you have probably already paid the tax.

barak

beachwalk wrote: »

.....Is it better to pay the tax where I live (Spain).....

You should probably have been declaring your 'overseas' income to the Spanish authorities regardless of whether or not it has been taxed in the UK, and your local tax rules will then apply.

beachwalk

Wow I`m impressed 3 replies!!

I`ll move to the other forum thanks. But to finish here. I receive gross interst as I filled in the form to state that I`m non resident and yes I should have been declaring it and now I will do.

Thank you

Brushwood

As you have savings account UK and the monthly interested received by you r amount is in fact the earning in UK. so when you cash out your savings account then you will have to pay tax and when you transfer your account to Spain then you don't need to pay tax.

Cook_County

I do not understand why you have evaded tax in Spain, you need local legal advice on how to correct this.