# Reporting interest earned on US account to HMRC



## annier (Jun 3, 2013)

Hello!

This is my first post here though this forum has been very helpful in the past. Bevdeforges advice in particular has helped a great deal.

I apologise if this has been discussed before but I couldn't find anything that completely answered my question.

I am a US citizen living in the UK (since 2000). I am a permanent resident in the UK and pay UK taxes and have filed my US tax returns, FBARs, etc. I have a bank account in the UK and the US. I reported on the interest earned in my US account on my 1040 however I've just been made aware that I should have reported this interest to HMRC. 

Can anyone tell me how best to go about doing this? Obviously I'm keen to do this as soon as possible and avoid any penalties (or at least minimal penalties). 

My knowledge in this area is very limited but I am aware of the US/UK tax treaty so I hope that because this interest is already reported in the US that I will not have to pay tax on it in the UK?

I'd be grateful for any help on this as I would like to be compliant in both countries!

Thanks
Annie


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