I live and work in Gibraltar and pay UK tax as i work for the MoD, my question relates to my savings account which i have here in Gibraltar do i have to declare the interest on that to the Inalnd Revenue? The account is with the Norwich and Peterborough building society based in Gibraltar. I understand that there is an amnesty at the moment from the Inland Revenue. Any advice woudl be appreciated.
WB
In message , jincs writes
telll us more about 'work for the MOD'. in the absence of further info then the answer is YES.
The amnesty is that if you admit that you have been receiving gross interest abroad and have not declared it despite being UK resident for Tax purposes then the fine/penalty will be limited to 10% of the unpaid tax. The unpaid tax will still be due though.
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