tax on savings

[michael marshall]

does anyone know whene the higher rate of tax kicks in on the amount of savings you have in your int acc .thanks

[my way]

Michael, Are you talking about Turkish accounts or British.

If Turkish you will only pay 10% tax on your interest.

[c1]

although you should decare this to uk tax man who will then if you are considered a uk citizen for tax purposes ( and you will need to watch / check that out) the uk taxman will apply uk tax limits taking into consideration tax already deducted I think that is right, but you should, even expats as well check out who is liable on this tax and death duties.

[stoop]

c1 is correct. ANY income from abroad should be declared on your UK tax return and it will be taxed at whatever bracket rate you fall into.. Of course they will take into account any tax you have already paid in Turkey.

[number2]

Why should the government be entitled to anything i get in Turkey, as far as they are concerned i am not a resident of England any more, i have retired after paying into the system all my life, but because i no longer reside there, they will not treat me in hospital, so i have to pay for my medical treatment, or lie, and tell them i stay with a relation, why should i have to become a liar to get what i should be entitled to, so they want my money, but don't want to know me. Alan

[stoop]

Alan it depends on your UK residency status. If you are still deemed to be UK resident for tax purposes then they will want their money. If not then you only pay in Turkey.

[michael marshall]

im talking about my turkish interest account ,is the 10%a standard charge or does it increase with the amount of lira you have.thanks mike

quote:Originally posted by my way

Michael, Are you talking about Turkish accounts or British.

If Turkish you will only pay 10% tax on your interest.