Navigating Freelance Income Reporting As A US Expat
The digital age has transformed the landscape of work, ushering in the era of the global freelancer. As professionals venture beyond borders, capitalizing on the ability to work from anywhere, many find themselves navigating the expat lifestyle. This global shift brings its own set of challenges, particularly in the realm of freelance income reporting. The...
Navigating the Complexities of US Expat Taxes: A Webinar Hosted by Expat Network and Greenback Expat Tax Services
Living abroad is an exciting adventure filled with new experiences, cultures, and opportunities. However, for US citizens, the complexities of expatriate taxation can often dampen the joy of this global journey. That’s why Expat Network, in collaboration with Greenback Expat Tax Services, is hosting a webinar titled “Navigating the Complexities of US Expat Taxes.” This...
Long Term UK Expats May Face Huge UK Tax Charges
UK expats who have lived abroad for many years often remain UK-domiciled and therefore liable to UK Inheritance Tax (IHT). The rate of this tax might be considered penal. It is currently 40% on the total value of the estate of a deceased after the exemptions. It is an additional tax payable on capital accumulated...
What UK Tax Will You Pay If You Move From The UK To Dubai?
More than 120,000 expat Brits are reported to live in Dubai, the UAE’s second-largest emirate (Abu Dhabi is the biggest). Many are attracted by Dubai’s sunny climate, as well as its family-centred, clean and safe environment (serious crime is almost non-existent). Article written by GoSimpleTax The beaches are beautiful, and while its traditional Arabic heritage...
Survey Reveals a Complex and Evolving Landscape for American Expatriates
The latest survey results from Greenback Expat Tax Services reveal a complex and evolving landscape for American expatriates, as they face an array of regulatory and financial challenges. Notably, 1 in 5 US expats are contemplating or planning to renounce their US citizenship, and an alarming 42% are not dismissing this drastic measure. This data,...
Key Tax Facts For Current And Would-Be HMO Landlords
There are reported to be about half a million “HMOs” (ie houses in multiple occupation) in the UK. A rented property is considered an HMO if at least three tenants live in it and they make up more than one household, with shared toilet, bathroom and/or kitchen facilities. Written for Expat Network by GoSimpleTax Typically,...
US Expats In Line For Potential Tax Windfall
The US Government’s Covid Stimulus initiative offers a tax silver lining to US Expats and Green Card Holders. Those with children could receive a double tax windfall in the form of Child Tax Credit. Tax returns need to be filed by June 15th to take advantage of financial benefits. UK-based US citizens and green card...
Six 2023/24 Tax Year Changes You Should Know If You’re A UK Landlord
April 6, and that can mean only one thing – the start of the new UK tax year. It’s when most changes to UK tax rules come into force, which can be good or bad news for you and your rental income. It can also be the perfect time to make tax less of a...
Making Tax Digital For Income Tax Delayed: So, What Should You Do?
In December 2022, the government announced its decision to delay introducing Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) for two more years until April 2026. What should you do? Article written for Expat Network by GoSimpleTax The government says it has done so because it...
Less Than 30 Days To File Your UK Self Assessment Tax Return!
Ideally, you would have completed and filed your 2021/22 UK Self Assessment tax return long before now. You’re probably wishing you had. But January is here and for whatever reason, you didn’t get around to it. Life’s very busy for sole traders, but don’t worry – you’re not the only one. Each year, about four...
How U.K. Expats Deal With Back Taxes In The US?
U.K. expats living in the U.S. must deal with the same tax obligations as any American citizen, regardless of whether they reside in the country permanently or temporarily. The IRS taxes U.S.-source income for all taxpayers who have established a “tax residence” in the United States and requires that expats file a tax return...
A Comprehensive Guide To Taxation For US Digital Nomads
As a digital nomad, where you pay taxes depends on your country of residence. According to United States laws, if you are an American citizen, you are still responsible for paying your self-employment tax on your income, no matter where you live. The US is one of the few countries in the world that...