Yes, also exempt under the same article. But I am not sure why you think UK does not tax bank interest. I believe it very much does ![]()
My accountant in the UK said this:
“UK bank interest is still treated by HMRC as UK-source income. However, for individuals who are non-UK resident for the full tax year, it is generally not subject to UK income tax in practice. This is because the “disregarded income” rules mean non-residents are typically only taxed on investment income to the extent that tax is deducted at source — and most UK bank interest is now paid gross.”
It seems there is some contradiction to your earlier post.
These are separate UK tax years. I was a UK tax resident until April 5th 2025. The salary i mentioned was from Jan, Feb and March 2025. The interest question to my UK accountant was about the tax year just ended in the UK which I wasn’t a tax resident (2025-2026).
Sorry if that wasn’t clear.
And to add my UK bank interest wasn’t taxed last year due to being within the allowance.
Yea, it’s all fine.
As I said do not confuse ‘not being taxed’ vs. ‘being taxed at 0% rate’. These are two very different things.
But regardless for the two types of foreign income you mentioned you should be exempts under NHR.
My accountant says:
"We have no way of informing them that the salary went though the UK tax system, but the tax rate was 0%.
Once we declare zero tax it is taxed in Portugal."
This is an interesting perspective.
I shall try and do this myself so I see what happens with the calculations if zero UK tax is entered.
thank you.
If this is the case, it’s annoying because I could have paid myself a small amount more and paid a very little amount of UK tax, which would have made it exempt to tax in Portugal.