Do I Need To Complete The UK Self Assessment?
If you are classed as self-employed or have a source of untaxed income, you will be required to complete a Self Assessment. However, this criteria is vague and many are left confused as to whether they actually need to file the tax return or not. Written exclusively for Expat Network by Mike Parks of GoSimpleTax...
A Guide To Record-Keeping And Expenses For The Self-Employed
If you’re new to self-employment, record-keeping might sound like hard work – even for those who have been filing for years it can be daunting. While that may be true, it does come with its own reward – namely, that sole traders can claim back allowable expenses and pay less tax on their earnings. Written...
7 Countries Where You Can Live Tax Free
Why establish tax residency? With most Western countries around the world having marginal tax rates upwards of 30-40%, it is not surprising that second residencies and passports are on the rise as people begin looking for low tax alternatives. Written exclusively for Expat Network by Mark John of Offshore Protection Thanks in large part...
Own Foreign Property? Beware of Phantom Gains
Foreign property ownership can be a rewarding and lucrative experience for many Americans living overseas. But when it comes time to sell your foreign property, you may be in for a scary surprise. In addition to paying local taxes on property sales, you may be on the hook for US taxes on phantom gains—a hidden...
US Expats Seek Changes To Tax Rules
Citizen-based taxation of US expats is a controversial subject and the annual survey carried out by Greenback Expat Tax Services shows it is the major issue for expats and is the major reason causing growing numbers to consider renunciation of their US citizenship. Nine million US expats live and work abroad, but since they...
UK Visit Limitations To Remain Non-resident For UK Tax Purposes
One of the members of the Expat Network community asked the following question about being able to visit the UK without becoming tax resident in the UK and we asked Trevor Wilkes of Trew Tax to respond to his query. I have a permanent home in the USA, where I have lived for 35 years...
What Do I Have To Do To Complete My Renunciation Of US Citizenship?
One of the members of the Expat Network community asked the following question about his duties to file to complete his renunciation of his US citizenship and we asked Greenback Expat Tax Services to respond to his query. Question: I renounced my US citizenship on January 17, 2019. Since moving to Europe in 2010, I...
All Things Tax For UK Expats
Expat tax affairs can be complicated, so GoSimple Tax have gathered some tips to help you understand your tax requirements as a UK expat that is still domiciled in the UK. This article was written exclusively for Expat Network by SimpleTax Income Tax The tax you’ll need to pay within the UK on your foreign...
Streamlined Filing: How to Catch Up on Your Taxes Penalty-Free
Mark your calendars for Tuesday, October 30th and join Greenback Expat Tax Services for a FREE, live webinar on how to utilize the Streamlined Filing Procedures to catch up on 3+ years of late taxes, penalty-free. Host David McKeegan, Co-Founder of Greenback will be joined by one of Greenback’s Streamlined Filing experts, and they will...
How To Renounce US Citizenship, The Costs And Implications
Reports consistently point to the increasing numbers of Americans considering renouncing their US citizenship with the burden of citizenship-based taxation as the major driver. Up until 2009 there were less than 750 people renouncing their US citizenship annually. This increased to 1,500 in 2010 and continued to grow peaking in 2016 at 5,409 with a...
Taxation Of US Expats: The Basics
The basic principle is that Americans living and working abroad are subject to the same tax rules as those who remain in the US. Americans are subject to US income tax on their worldwide income. There are the additional reporting requirements of FATCA and FBAR (see Five Things American Expats Need to Know About Foreign...
UK Expats: Do I Need To File A UK Self Assessment Tax Return?
If you no longer live in the UK, you may still be required to file a Self Assessment tax return with HMRC even if you’re a non-resident. This article was written exclusively for Expat Network by Go Simple Tax Tax rules for UK residents and non-residents can be different – one of the first...