How UK Inheritance Tax Affects Expats
One of the most important financial tasks you have as an expatriate is to plan how and to whom you will leave your assets. It can be a complex process, involving inheritance taxes and succession law of more than one country, but it is vital to have a solid ‘estate plan’ so your estate is...
New UK Tax Allowance Could Benefit Expat Homeowners
In the 2015 UK summer budget Chancellor George Osborne introduced his ‘family home allowance’, increasing the inheritance tax threshold to a potential £1m, and possibly benefitting expats By Jason Porter Inheritance tax is considered one of the most unfair taxes in the UK. So the fact that most family homes will now be exempt...
Buy-To-Let Property Faces Higher Tax Charge
Among some important changes to the way property transaction in the UK are taxed is a raid on buy-to-let investments.
Can I Send Money Back To The UK Untaxed?
Am I right in thinking that, as long as fewer than 90 days is spent in the UK in a tax year, then overseas earnings may be repatriated to the UK without attracting UK tax? Am I also right that these repatriated earnings may NOT be used for investment in individual savings accounts (ISAs)? Adam...
Expat Landlords To Get Lower Tax Relief
The way income from renting out property in the UK is taxed is changing dramatically. Make sure you are fully aware of how this could affect you…
Do Holidays Count Towards Residence?
Someone who looks after my affairs has told me that days on holiday overseas are not classed as working, so these days are counted as being in the UK. This means I can spend much less time back in the UK if I want to remain non-resident. Is this correct? Adam Thompson, tax manager of...
Don’t Renounce Your US Citizenship Yet
While filing US taxes can be confusing, cumbersome and downright frustrating, renouncing your citizenship isn’t always the answer. Before you race down to your local US embassy, take a look at five reasons you may not want to hand over your passport. 1. Renouncing isn’t free In years past, the State Department charged a...
New UK Income Taxes May Affect Expats
The way income from dividends, savings interest and renting out property is taxed is changing dramatically in the UK. Make sure you know how you may be affected. Read more
Contractors: Check Your UK ‘Umbrella’ Set-Ups
Contractors are being urged to check if their ‘umbrella’ or personal service company arrangements now fall foul of UK tax law. Read more…
Ten US Tax Tips For Americans Living Abroad
There are an estimated 8.7 million Americans living overseas and more than half fail to file their US tax return each year. Perhaps they don’t know they need to file or, more likely, it’s too overwhelming to attempt. But we are here to tell you that it doesn’t need to be this way. Follow these...
U.S. Expats: How To Handle Delinquent Tax Returns
US citizens and residents living abroad are still required to annually file a US tax return and pay taxes on their worldwide income. US taxpayers, who have not filed US tax returns each year, are considered delinquent and can face potential civil and criminal penalties from the Internal Revenue Service (IRS). By Anthony N...
US Expats: Learn About The Statement Of Specified Foreign Financial Assets
In an effort to curb tax dodging by United States citizens with foreign assets, Congress passed The Hiring Incentives to Restore Employment Act. The act imposes a new reporting requirement for foreign financial assets, in addition to the requirement of filing an FBAR. The new law applies to specified persons with specified foreign financial assets which...