If you have lived abroad or are planning to work or move abroad for a significant period of time, or you have moved to the UK from overseas, then you may have already heard residence and domicile used fairly interchangeably. …
Expat Tax
Taxes Through The Ages
The process of taxation has been imposed on billions of taxpayers for many years, but for how long? Let’s take a step back in time and see how taxes have changed throughout the ages.
Taxation in Ancient Egypt?
That’s right! …
10 things you need to know about expat taxes
-
Check you qualify as an expat
You might be wondering what we mean, but this is by far one of the easiest ways to get caught out. Qualification via the Physical Presence test requires you to be physically present in
Do US Citizens Working Abroad Pay Taxes
In short – yes. If you’re a US citizen or resident alien, your worldwide income will be subject to income tax, regardless of where you reside. The rules for filing income, estate and gift tax returns are in general the …
How PFIC strategies are affected by currency fluctuations
The ongoing saga of Brexit is causing economic repercussions throughout the UK. From business uncertainty to concerns about trade and product availability, one of the biggest impacts so far is the sharp decline in the pound’s value.
And when it …
Tax Fairness for Americans Abroad Act Update
In late 2018 Congressman George Holding, US Representative from North Carolina, introduced a bill called the Tax Fairness for Americans Abroad Act of 2018 just before the Congressional holiday recess. The bill, also known as, H.R. 7358. This bill …
Expat Taxes FAQs
Here are some frequently asked questions to help you get to grips with expat taxes and how to remain compliant. Remember, if you’re unsure of your obligations, always check with a qualified tax advisor.
Do I have to file
…Filing taxes as an American in the UK – US Expat Taxes explained
As an American living in the UK, you will find yourself in the unenviable situation of needing to file both US and UK tax returns. A complex affair, we believe it’s vital for taxpayers to have an understanding of their …
IRS Amnesty Programs
An Amnesty Program provides qualifying taxpayers with an opportunity to avoid penalties and fees by coming into compliance. Typically, such programs require delinquent taxpayers to pay back an agreed lump sum which, once paid, forgives certain tax liabilities accrued from …
New IRS Relief Procedures for Certain Former Citizens
New procedures from the IRS are now in force. The Relief Procedures for Certain Former Citizens were announced on 6 September 2019. They allow a certain class of former US taxpayers, who have abandoned their citizenship, an opportunity to become …
