If a UK citizen living in the United Kingdom and has a savings account in another EU country …?
… You'll have to pay taxes on interest in the country of the account (the bank will deduct the tax from the amount of the account holder). , Right? Please correct me if I'm wrong … So is it the UK citizen has to declare that income (ie interest in the savings account in the EU) in its statement of UK tax form? Will it be double taxation? What if I do not declare anything? "The UK tax authorities find out about that? How?
You have paid taxes on the interest in the country of the account. You must declare the interest to the Tax Office in the UK HMRC – is a specific question about is in the form of self-evaluation. Are not taxed twice – but you have to pay UK tax for the amount paid equal to what would paid if kept in a UK account (I hope that makes sense) What happens if I say something? same risk of cash in hand work. "The tax authorities the UK to find out about that? Over time – if you deposit a large amount of money in the UK.
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