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bigduckontax, Accountant
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I have worked overseas for a number of years. I am now a uk

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Hi, I have worked overseas for a number of years. I am now a uk tax resident and domiciled in the uk. I have a large investment which has matured in the US. I have paid tax on the gains and interest through my UK tax return as the investment has been maturing. Now the fund is matured I would like to bring the funds back into the uk. Am I correct in thinking I will not face any further tax charge simply by transferring the funds into my uk bank account. I have a few other smaller bank account balances (Isle of Man and Spain) which I would also look to transfer back into my UK bank account. Thanks - Richard

Hello Richard, I am one of the experts on Just Answer and pleased to be able to help you with your question.

You may transfer these balances to an UK bank account without attracting any further tax charge. Just warn your bank of incoming funds and their source to preclude any money laundering inquiries a large transfer might otherwise attract.

I do hope that you have found my reply of assistance.

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