Megan2012

If someone lived in the UK for say 5-10 years, paying HMRC taxes but omitted to include US account bank interest during that time if they voluntarily came forward now would there be reduced penalties with HMRC? We're talking maybe $3000 income.

Jerseygirl

I am moving your thread over to our US forums...hopefully someone in that forum may be able to help you. I notice that you have already been advised to contact an accountant who is familiar with US/UK taxes and have been provided with a link to an accountant.

Would you please note that this forum is for new members to introduce themselves. General questions should not be posted in the Welcome Inn. Thank you.

theOAP

This may help, but does not answer your specific question. UK penalties for remiss declaration of tax that should have been declared in prior years does not carry the punitive penalties one associates with US tax. There will be tax due (possibly, if tax was paid in the earlier years on UK income) and penalties, though.

http://www.direct.gov.uk/en/MoneyTax...ls/DG_10014904

and here:

http://www.hmrc.gov.uk/rates/interest-late-pay.htm

This will also be of interest:

http://www.hmrc.gov.uk/taxon/foreign.htm

Most importantly, where do you live now?, and what was your residency status in the UK? Did you pay tax on the arising basis or remittance basis? Sorry for the questions, but nothing is simple when tax is involved.

Megan2012

I now live in the US. When in the UK I was a resident citizen with my US spouse who had residency through our marriage.

theOAP

The short answer is to give HMRC a call. This isn't as brutal of an answer as it sounds. I've know UKCs who after giving the exact details to a specific situation in a one to one conversation were pleasantly surprised (No Guarantees!!!). If you get nowhere in the first conversation, ask to speak to a supervisor. Your future plans may have a bearing. I don't know if the situation is about you or your spouse, but in either case, it's worth a call before going further.