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Need help with tax problem
lost12
Posts: 1 Newbie
in Cutting tax
Hi, I am UK resident for tax purposes. I have a savings account in Ireland (equivalent of ISA) and some money received from my uncle. Both are not taxable in Ireland. Can I transfer this money to UK and not pay tax?
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Comments
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AFAIK you can transfer money as you please, it is the interest on the money that could be liable to tax.
Whether you can transfer from an Irish tax excluded savings account to an ISA I doubt, but you could put the money in a cash ISA if you haven't used your cash ISA allowance for this year. You could then put another chunk in after April 6 for the next tax year.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I presume you have declared the interest on the Irish account on your UK tax return?0
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