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Posted Thu, 19 Dec 2024 10:13:11 GMT by a
I have been resident in the UK since 2016 on different visas (Tier 4 student visa from 2016 to 2021, graduate visa from 2021 to 2023, and skilled worker visa since 2023). I have some savings in a bank in Turkey (my home country). This bank account was opened before I became a UK resident and with money I earned before I became a UK resident. It currently has approximately £65,000 when converted to GBP. Can I transfer this money to my UK bank account? If yes, are there any tax implications? Thanks
Posted Mon, 30 Dec 2024 12:10:29 GMT by HMRC Admin 32 Response
Hi,
As you are resident in the UK, you would be taxable in the UK on any interest that the capital in this account generates. The capital itself, is not taxable and there are no tax implications to transferring the capital to the UK.
Thank you.

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