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Posted Sun, 24 Nov 2024 19:11:58 GMT by georgia beach
Hi I recently returned from Thailand and am a UK resident again. I have continued tutoring some students online. The pay me into my thai bank account. I declare this in Thailand and will pay tax on it in april 25. Do I also need to declare it here? It's about 3000gbp. - 2000 stayed in thailand. 1000 I've transfered to my uk account. Thanks
Posted Thu, 28 Nov 2024 15:48:49 GMT by HMRC Admin 20 Response
Hi,
If you are UK resident and domicile you are liable on your worldwide income even if not remitted (unless the laws of the country stop you from withdrawing it).
You will therefore declare this and can claim foreign tax credit relief for the tax paid in Thailand.
Thank you.
Posted Thu, 28 Nov 2024 16:43:48 GMT by Clive Smaldon
Not HMRC...not the correct way of dealing with it at all. If you have returned to the UK and are split year then the DTA says that business profits are taxable in one country ONLY so no tax credit is available in the other country. As you are now UK resident I would expect the treaty residence to be UK not Thailand from date of return to UK, so it would be taxable in the UK and you would not include in the Thailand return...however that is not certain, as it is possible you will be resident in both countries in the cross over year and it depends on your personal circumstances, take professional advice from a local accountant who understands residence issues.

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