Personal Finance Issues For Expats In France
France has a reputation as a high tax jurisdiction and while President Hollande was in power, some wealthy French nationals chose to move to the UK and Portugal, enticed by their fiscal sweeteners. But France can be a tax efficient place to live for retirees, providing you understand the tax implications of your specific situation...
US Offshore Voluntary Disclosure Program To Close
The US IRS has announced that the Offshore Voluntary Disclosure Program (OVDP) will close in September 2018. The OVDP was set up to allow US expats with potentially serious offshore compliance issues to avoid criminal prosecution and cap any exposure to penalties. The IRS indicated that the reason was the ‘significant decline in the number...
4 Ways US Expat Taxes Have Changed, And How To Prepare
US Expat Taxes have been affected by significant changes to the American tax system between 2017 and 2018. Some of the changes are made annually, like alterations to tax brackets, deductions, and personal exemptions, though others were distinctive, like the sweeping tax reform that was passed at the end of the year. This article has...
Can I Use Split Year To Reduce My Tax Liability On Return To The UK?
We are returning to the UK after 20 years in Dubai. My husband has taken redundancy and we were hoping that his salary plus end of service benefit was going to be received and transferred to the UK before our return, unfortunately due to the slow cancellation of Visas etc this is looking less likely. ...
5 Tips For US Expats: How To Maximize Foreign Earned Income Exclusion
A US citizen living and working abroad can use the Foreign Earned Income Exclusion as a shield against US taxes. Here is how to maximize the value of the Foreign Earned Income Exclusion (FEIE) in 2018. This article has been written exclusively for Expat Network by American Expatriate Tax Consultants Qualifying for FEIE An individual...
Does My Employer Have To Deduct Tax In The UK?
I may be going to work offshore in Brunei on a 4 on 4 off rota. The money is tax free from Brunei but I have concerns as I will be going back to the UK in my time off. Is my employer obliged to pay the British tax? Jason Porter of Blevins Franks advises...
Where Am I Resident For Tax Purposes?
What is my tax status? I have been an expat since 1982 in the Falklands then the Philippines, apart from one year back in the UK in 1989. I believe I am not resident of the Philippines but a ‘tourist’. The Falklands is paying me a pension and the RAF is about to. Jason Porter,...
As An Expat, Why Do I Pay Tax On My UK Pension?
Are you tax resident in the UK? I have lived in Thailand for 12 years and am now 74. I have only been back to the UK once in that time so I consider myself non-resident in the UK. I have been paying UK tax on a private pension since the age of 66 though...
Do I Need To File A UK Tax Return As A Retired UK Expat?
I am a UK retired expat and left the UK in 2006 and have been travelling since then. I divide my time between Asia and Europe, no longer than 3 months in any one country at a time. I have not filled in tax returns, in that time, but am now looking to settle in...
Establishing Credit On Arrival In America
Establishing credit on arrival in America is vital. The lack of a credit score has implications in many areas as it restricts your ability to set up phone contracts, rent a property, sign up utilities, obtain a credit card and many more key taks when arriving in the US to live. Creditworthiness does not easily cross...
Saudi Arabia And UAE Introduce 5% VAT
The Middle East has long been associated with tax-free living, but from January 1st United Arab Emirates and Saudi Arabia 5% VAT on most goods and services. The introduction of VAT follows the recommendation from the IMF that oil-exporting countries in the Gulf introduce taxes as one way to raise non-oil revenue. Forbes reports that...
British Expats And The Statutory Residence Test
Tax residence is not an issue that most of give much thought to. As a British taxpayer you are subject to tax on your worldwide income and any capital gains unless you are not UK resident. So when you spend all or part of the year abroad the issue comes in to sharp relief as...