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...
A Step-by-Step Guide to Filing US Expat Taxes Late
Filing US expat taxes late – if you’re behind on your taxes, you aren’t alone. The 2018 US Expat Opinion Survey, which gathered the opinions of over 3,800 expats worldwide, found that nearly 7% of expats were behind on their taxes. Becoming compliant on expat taxes might be easier than you think! Just follow the...
Don’t Miss the US Tax Compliance Boat – OVDP Ends Sept 2018
If you are an American citizen or green card holder living abroad who has unreported assets and income, time is running out to take advantage of a critical Internal Revenue Service (“IRS”) tax compliance program. Written exclusively for Expat Network by Kevin Sweeney, Senior Counsel, Chamberlain Hrdlicka Here’s why. Effective September 28, 2018, the...
Looking To Transfer Your Expat Pension?
Expats generally have the right to transfer their pension abroad into a qualifying scheme. For some, the benefits of doing so are manifold. However, there are risks, and it’s fair to say that you need to tread very carefully when considering all your options, as a significant tax charge can apply in certain circumstances. Written...
Australian Expats Returning Home: How To Prepare
Simon DePaoli of Moore Stephens lays out the issues regarding financial planning and expat life that Australian expats returning home need to consider – writing from the perspective of an Australian who has done it. Expatriate life is a heady existence. There’s the opportunity to fast-track career aspirations, the novelty of travelling to new countries...
Why Has My Military Pension Suddenly Reduced?
“Why has my military pension suddenly reduced? Is there anywhere I can find a definitive guide to the Taxing of expatriates’ pensions? I know there are two main categories of expatriates those that are in countries and territories that have reciprocal agreements with and those that don’t. I know this affects if your pension is...
How Can I Return To The UK To Look After My Mother Without Becoming Tax Resident?
What are the rules on UK tax residency? I am an expat and have been living out of the country for ten years. Last year my sister became terminally ill. She was the main carer for my mother but it is now impossible for her to continue. Please can you tell me what the rules...
What Are The Benefits Of Offshore Banking For Expats?
It is true that offshore banking has sometimes been associated with tax avoidance schemes which give it a bad name. However, offshore banking for expats can have many benefits, even if there are no tax savings. Expats by definition work away from their home country and will therefore tend to earn in one currency whilst...
HMRC Targeting British Expats
HMRC, the UK tax authority, is working to ensure British expat taxpayers continue to pay tax on their UK affairs. It recently released new figures that demonstrate its increased co-operation with foreign authorities overseas, leading to a considerable rise in levels of expat tax collected. In 2017 HMRC made 1,006 requests to overseas tax...
British Pensioners Could Face £10bn Being Wiped From Pension Pots
According to an analysis conducted by financial advisory consultancy, Hoxton Capital Management, the average pension pot of over-65 Britons living abroad has reached £210,000. In volatile years, they report, currency market fluctuations removed as much as 20% from British pensioners’ spending power. Based on the amount of British citizens aged 65 and over living in...
US Expats Resent Continuing US Tax Requirement
Greenback Expat Tax Services’ 2018 US Expat Opinion Survey,based on input from over 3,800 expats, highlights the unpopularity of the requirement for US expats to file US taxes while living abroad as well as concerns about their representation in the politics back at home. Greenback report that 67% of US expats do not believe there...
Meeting The June Deadline: A Guide For Expats Who Have Never Filed
The United States is one of just a few countries that employ lifelong tax reporting requirements for its citizens. So, many US expats are stunned when they find out that they are required to file annual US tax returns – regardless of how long they have lived abroad. Below is a quick reference guide to...