Your Questions About Uk Banks In Usa

David asks…

Would it be better to work in a city bank in USA or UK?

And whereabouts in those countries? Would it be London Vs. New York? or are there possible other cities?

Pip answers:

New York – your salary/bonus will be higher and you will pay less income tax

Sharon asks…

UK Citizen Immigrating to USA- Is there be a tax to transfer funds from UK bank account to US bank account?

UK citizen who is immigrating to the USA. Already has a joint checking account in the USA with his USA spouse (the spouse currently resides inside the USA). The UK citizen wants to transfer money from within the UK over to the USA prior to his flight to the USA. Upon arrival in the States, he will live there permanently. Because the money is going from his personal checking account located within the UK , to his joint checking account located within the USA , will there be any tax imposed? Upon his arrival in the USA he will be an immigrant alien with a green card. If there is going to be a tax, how is he taxed, what is the tax percentage (%), and are there threshholds where the money is NOT taxed (if so, what are they)?
The USA spouse is only listed on the joint checking account that is located inside the USA.

The account that is located within the UK is only registered in the name of the immigrant, the UK citizen who wants to do the transfer.

So funds going from the UK are from him only/the immigrant and are going to be sent over to the USA to him&her/joint checking.

Pip answers:

No tax on the USA side.

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