UK bank account interest, and the 1040 etc.

My wife & I are planning on moving to England next summer; we currently live in the USA.  I'm beginning to think about the complications of filing the taxes.  How do you report UK bank & building society account interest on your 1040?  Currently, we have some funds in an account in the Isle of Man, which earns interest tax-free.  So we simply declare that in the appropriate place on the 1040 and pay US income tax on the interest, just as on interest from a US bank.  But, when we move to England, I would be moving the funds from the IoM to a UK bank or building society account, and they pay interest after tax (I believe.)  How do you report that to the IRS to indicate that tax has already been paid, bearing in mind that UK banks do not issue a statement of tax that has been paid, as far as I know?

I just list it along with my other US bank accounts.  You don't have to send in the 1099-INT (clearly you can't, as you won't get one).  But you should still report it.

I just list it along with my other US bank accounts.  You don't have to send in the 1099-INT (clearly you can't, as you won't get one).  But you should still report it.

OK, but how do you let the IRS know that you already paid UK income tax on the bank account interest?

OK, but how do you let the IRS know that you already paid UK income tax on the bank account interest?

Well, you can include it in your calculation of the foreign tax credit.  When you are determining how much you've paid to the UK and then in turn figuring out how much you get credit for from the US.