UK Citizen - Employed full-time in UK, but freelancing for US-based company

Hello all,

I am a UK citizen working full-time in the UK and paying UK tax via PAYE. I am also doing the occassional freelance work for a US-based firm. I happen to have a US bank account and Social Security number from spending some time in the US years ago.

My question is this: instead of having my freelance fees wired to my UK bank account and declaring to HMRC, would there be a benefit tax-wise to having them placed into my US account and leaving them there until I return to the US at some point down the line.

Does anybody know what the tax implications of this set-up might be?

Many thanks!

M.

Well, you are proposing tax fraud. It doesn't matter where you deposit your earnings as  HMRC will tax your worldwide income. Anything paid to you by a US client, wherever it is deposited, should be declared to HMRC so PAYE and NI can be paid.