Online Business Moving to UK Tax Implications

Hi there,

I am a US citizen who will be moving to the UK in the near future. I run an internet business and I suspect that when I am in the UK I will continue to transact through my US bank accounts for quite some time (it's just easier).

My current understanding is that as a UK resident I would be paying taxes primarily to the UK. But, I would file a return in both the US and UK and simply take a credit for UK taxes paid on my US return.

My question is, will transacting with US bank accounts, earning US account interest, etc. have any implications on taxes? Would my above understanding remain correct or does this create further complications?

Thanks for any insight.

If you pay tax on the arising basis (which is likely) then the interest on the US accounts is reportable on the 'foreign pages' of you UK self-assessment. No big deal.

Is your 'internet business' incorporated in the US? If you are self-employed, you will need to register as self-employed in the UK.

If you pay tax on the arising basis (which is likely) then the interest on the US accounts is reportable on the 'foreign pages' of you UK self-assessment. No big deal.

Is your 'internet business' incorporated in the US? If you are self-employed, you will need to register as self-employed in the UK.

Thanks. No, I am a sole proprietor. Registering as self-employed in the UK will be no issue, I'm just wondering if continuing to conduct high-volume transactions in US bank-accounts will cause any further tax complications.