Best way to recieve Soc Sec in UK

Hi All-

For lack of a better place to post this question, I am wondering if anyone can guide us on the best / easiest way to receive our Social Security over here in the UK.

Thanks so much.

NWKH

Hi All-

For lack of a better place to post this question, I am wondering if anyone can guide us on the best / easiest way to receive our Social Security over here in the UK.

Thanks so much.

NWKH

You can either have it paid directly into your UK bank account or you can elect to have it deposited into your US account and bring it over when it suits you.

Most of us use Transferwise to move money.

I am having it sent directly here.....just started a few months ago.

From a tax perspective US Social Security pensions are completely exempt from US tax for a UK resident taxable on the arising basis. The income is UK taxable.

If you have it deposited into your UK bank account, you get the best rate 'on the day' and have immediate access to your funds. You also avoid having to keep up with/calculate the 'value' in GBP, as you report what you received on your UK self-assessment.

If you have it deposited into your UK bank account, you get the best rate 'on the day' and have immediate access to your funds. You also avoid having to keep up with/calculate the 'value' in GBP, as you report what you received on your UK self-assessment.

This is part of the reason we plan to do this when we start receiving SS in a couple of years.