Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United Kingdom Taxes

Uk Citizen here. I still hold a regular savings unit trust in Singapore. Will I be taxed on UK side?


I took up this investment back in Singapore when I was attached there for a few years. I like the fund returns very much,so I would like to keep up with this investment in Singapore even when I am back in UK. Worried about tax in UK. Singapore side will be tax-free.

my husband and I have quite a bit of money and property overseas, and are only responsible for taxes there, not here.
what they don't know won't hurt them.
Yes, you as a UK citizen are liable for all income earned overseas. As the tax rates are now so modest its not worth the risk especially when governments exchange information about earnings of foreign nationals
As a UK resident, you are taxable on your worldwide income. What they don't know won't hurt them, but when they find out it may hurt you! Its not worth the hassle/worry of keeping it quiet - just notify them with your tax return.
If you are resident or ordinarily resident in the UK, you need to declare and pay taxes on your world wide earnings. If however you are resident abroad, you will only need to pay taxes on the amounts you remit to the UK.
you need to declare it to HMRC, but if you pay tax on it in Singapore, you can claim "double taxation relief" i.e. what you pay to the Singapore authorities can be deducted from your UK tax bill.
ACCA
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