Individuals who are living in the UK and hold their assets in a US revocable living trust will, in many cases, be required to register their trust with HMRC’s Trust Registration Service before 1 September 2022. New rules mean that …
Trust
Coronavirus Aid Relief and Economic Security (CARES) – Recovery Rebate
The recovery rebate is an automatic tax-free payment to help with financial situations, with the amount available being dependant on the filing status of the individual:
- $1,200 to those married filing separate or single
- $2,400 to those married filing jointly
Inheritance tax for non US citizens
Whilst resident and non-resident aliens may reside in the US indefinitely, upon their death, their estates may face unforeseen deductions as a result of estate tax and gift tax. It is because of this that careful and timely planning is …
5 Issues for UK Resident Beneficiaries of US Trusts
When a US person moves to the UK they can bring with them connections to US personal or family trusts that lead to significant UK tax issues and tax bills. We frequently come across US expats who are UK resident …