# UK tax obligations?



## KristenJune (Oct 8, 2016)

Trying to work out my UK tax obligations.

I owned a business in the USA for 20 years, Self Employed S Corp. 
I paid myself a salary every month from the business, half of it being a draw from the business and half being a payroll from which federal and state taxes were paid. I stopped drawing a salary after I left the USA.

I transferred money from my business account to my personal bank account in the UK last May to cover future immigration fees (£72k).
Since I left the USA, my business is still open on the books and the intention is to keep it open just incase we return in the future.

My question concerns the transfer of funds from my business account in the US to my personal account in the UK.
Does this transfer count as income for UK tax purposes? Am I liable to pay UK tax on this?

Thanks

Kevin


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## Bevdeforges (Nov 16, 2007)

If it is strictly a transfer of funds that already belonged to you and on which the income taxes have already been paid (say, customer payments, etc.) then there is no tax on the transfer. 
Cheers,
Bev


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