Expat Network: 25 Years of Excellence Serving the Expatriate Community.

 

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 million people leave filing the ...

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Tax Benefits For U.S. Expats Abroad

  Are you ready to file your U.S. tax return? In this article we’ll dive into the tax benefits and credits available to U.S. expats, to help you make sure you’re getting every deduction and credit you deserve.         Written for Expat Network by Eric Scali, Region Tax Manager for H&R Block Expat Tax Services   Living and working abroad can bring on more than a fe ...

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What U.S. Expats Should Know To Avoid Thousands In IRS Tax Penalties

  It’s that time of year again—are you ready to file your U.S. tax return? Filing while stateside can be complex enough, and expats have a few extra layers of complications added. In this article we’ll dive into the IRS tax penalties common to U.S. expats, and tips to avoid them this year and in future years.       Written exclusively for Expat Network by Eric Scali, Region Tax ...

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Don’t Miss UK Self Assessment Filing Deadline & Other Tips For Landlords

  Time is running out for landlords and other Income Tax payers, with the Self Assessment online filing deadline of midnight on the 31 January fast approaching. Miss it and straight away you’ll have to pay a Self Assessment late-filing penalty of £100.       Written for Expat Network by GoSimpleTax   The penalties do not end there: After three months, if you still haven’t ...

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The Child Tax Credit For Expats

  The Child Tax Credit is a significant tax benefit available for American families with children, and in many cases US expat parents living and residing outside of the US can take advantage of the credit, even if their US tax liability is zero.          Written exclusively for Expat Network by John Rogers, US Expatriate Tax Accountant with Universal Tax Professionals, LLC ...

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U.S. Expat Tax Filing In 2022 – What You Need To Know

  Tax season is here once again, and if you’re a U.S. citizen residing outside of the United States, you may not have to pay a tax bill when you file your taxes, but you still have to file. In this article, we’ll look at what’s going to be new for U.S. expat tax filing in 2022.       Written exclusively for Expats Network by Nicolas Castillo,  Managing CPA at ...

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How To Report Rental Income If You’re A Company Director

  Company director income is often made up of a relatively small amount of wages paid through the company payroll, topped up with company share dividend payments, with both taxed accordingly. But what if you’re a company director with income from other sources, more specifically, rental income from renting out property?     Article by GoSimpleTax   If you’re a company director who’s rece ...

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Do You Have Your UTR Number Ready To File Your Self Assessment?

  A Unique Taxpayer Reference (UTR) number is a ten-digit code required by all sole traders, partnerships, and limited companies in the UK.  It’s unique to that individual or organisation and remains unchanged forever.       You will also need a UTR if you have other forms of income or expenses that require you to file a Self Assessment tax return. If you don’t have a UTR, you ...

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Self Assessment Advice For Returning Expats

  Whether COVID-19 has uprooted you or it’s just simply time to return to the UK, it’s important to put the relevant tax measures in place before booking your plane tickets. Almost every year, expats return to the UK only to find themselves at odds with HMRC.       In most cases, this is due to unfamiliarity with new tax laws or laws that wouldn’t have been applicable to you pr ...

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Everything You Need To Know About Renouncing U.S. Citizenship

  Section 349(a)(5) of the Immigration and Nationality Act (INA) covers the loss of nationality under various circumstances, including the voluntary act.  Although permissible, there can be dire consequences if it’s taken lightly. Therefore, in this article, we briefly cover all the aspects of renouncing citizenship so that you can make an informed decision.    Why Do People Renounce the ...

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