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UK tax implications for transferring money?

UK tax implications for transferring money?

Old Feb 9th 2024, 4:13 am
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Default UK tax implications for transferring money?

Hey all,

Quick background - I'm from the UK and I am now a naturalized US citizen (after moving here in 2007). I still have my UK checking account open with about £10 in and never use - figured I'd keep it open if ever needed it. It's my only asset in left in the UK

And my question - If I wanted to transfer my own funds (around $1000-$2000 from my own income that's already taxed here in the US) to my UK account, would there be any tax implications in the UK? My assumption is that because I am a tax non resident in the UK since 2007, it wouldn't be a problem? Might be an obvious answer but I haven't thought much about UK tax in a VERY long time and want to make sure I am not missing anything new.

Also this would be my only UK money (I have no other assets there) and would not trigger FBAR or anything like that as it would be way under $10k.

Thanks for any advice
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Old Feb 9th 2024, 5:23 am
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Default Re: UK tax implications for transferring money?

No tax implications, just transfer it.
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Old Feb 9th 2024, 10:11 am
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Default Re: UK tax implications for transferring money?

Originally Posted by lansbury
No tax implications, just transfer it.
+1

For 30 years we did just what the OP did, kept open our UK bank account with very little in it and transferred money to it from the USA from time to time for buying gifts, and for when we came over on vacations.
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