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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 7412
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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I am a US citizen with a BRP in the UK and am considering

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I am a US citizen with a BRP in the UK and am considering transferring £65K savings to my UK bank account. to what extent are my saving UK taxable?
JA: Have you talked to a tax professional about this?
Customer: no
JA: Anything else you want the Accountant to know before I connect you?
Customer: No

Hello and welcome to JustAnswer. I am here to help you.

Please advise

- how long you have lived in the UK

- what do you do for living

- do you pay any taxes here
Many thanks

Customer: replied 18 days ago.
Lived in uk 4years, retired, yes pay uk taxes

Thank you for your reply.

If you are paying taxes in the UK as a UK resident under normal basis i.e. claiming personal allowances and being taxed on worldwide income, then transfer of savings from an overseas bank account to a UK bank account would not attract any taxes. Any interest earned on this principal would attract tax whether it is earned in the UK or abroad.

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