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Topic: transferring money to US bank account  (Read 500 times)

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transferring money to US bank account
« on: March 05, 2020, 06:46:23 PM »
Hi, my wife resides with me in the UK. We recently came upon an HMRC web page that says "actions like renting out a property abroad, transferring income and assets from one country to another, or even renting out a UK property when living abroad could mean taxpayers face a tax bill in the UK".

(https://www.gov.uk/government/news/hmrc-warns-its-time-to-declare-offshore-assets [nofollow] )

My wife occasionally transfers money from her UK bank account to her US bank account. Typically this will be between $150 to $350 per month. This is done to pay student loans.

Does she owe HMRC any tax due to this transfer?


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Re: transferring money to US bank account
« Reply #1 on: March 05, 2020, 06:49:25 PM »
No.


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Dual USC/UKC living in the UK since May 2016


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Re: transferring money to US bank account
« Reply #3 on: March 06, 2020, 04:30:43 PM »
Thanks very much you guys!


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