u/Ok-Tangelo9311

Basic finance question - US based investments

Hello,

As a UK/US citizen newly moving to the UK I am realising that the investments I hold in the US need to be HMRC approved. This is brand new information to me - can anybody give me hints on how to get started? I have about 40K dollars invested with Betterment. This has been taxable in the US historically, but I’d like to know if I should pull it out and put it elsewhere before moving to the UK. I am able to maintain a US address.

Thank you for any advice and apologies for the basic question. I’m trying to give myself a crash course in investing and keep learning something new.

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u/Ok-Tangelo9311 — 5 days ago

Funded childcare hours on spouse visa

Hi there - I am a UK citizen. My husband is a US citizen moving in on a spouse visa. Our child is a dual citizen.
Are we able to get the government funding for 30 hours for under 2 even with my husband as an American? He will be working.

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u/Ok-Tangelo9311 — 8 days ago

529 account - US citizens living in the UK

We are dual UK/US citizens with a dual national child. Can the child’s grandparents (US based, only American citizenship) open a 529 account for the child and own it? Is this legal and does it come with risks when the time comes to actually use the money? Child is so young I have no idea where they will go to college.

I understand this is not ideal but looking to get a big picture of what this might risk or entail. The only people who want to give money to the child this way are the grandparents, and they likely won’t give them anything at all if not in this account. So even if it got flipped to a Roth IRA that would be fine!

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u/Ok-Tangelo9311 — 9 days ago

Roth IRA contributions once moved to UK

Hello - my spouse and I have some US money currently sitting in a HYSA. Earned in America, taxed in America. We are moving to the UK so won’t be using this money for its intended purpose.
Is there any concern about each year using it to max out our Roth IRA? I’m imagining just moving the max annually into an existing fidelity Roth IRA account. We can update the address on this to a family member’s US address. We don’t plan to use UK funds to contribute.

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u/Ok-Tangelo9311 — 9 days ago

Finance Q - $100K - any recommendations on where to put?

I am a dual UK/US citizen, husband is a US citizen. We have both lived in the US but are moving to the UK. We have $100K saved up in cash savings that we were planning on using for a house, but likely will not as we want to buy in the UK. Does anybody have any recommendations on a strategy/someone to help us figure out what to do with this money? We are willing to lose access to it if necessary, although retirement saving isn’t the priority. We also have some UK cash savings that we will probably use to buy a house given all of the difficult investing rules - not sure what else to do with British money as an American citizen.

Would be very grateful for any guidance on where to start researching!

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u/Ok-Tangelo9311 — 13 days ago