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Ask Your Own Question, 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.

My aim is to give you a professional service. I hope this is helpful and answers your question.

If you need more assistance, please use the reply box below and let me know. It has been my pleasure to assist you with your question. and other Tax Specialists are ready to help you

I thank you for accepting my answer and for talking with me..

I'm glad I could help you resolve this today. Please follow up here if you have any other questions.

Best wishes.