Approximately nine million people from the United States live overseas. This figure was released by the Department of State in 2016 as the closest estimate at the time. The number increases constantly, and the total number of US expats is …
US Tax
3 Tax laws US expats need to know
For US citizens wanting a long-term change of scenery, the UK is a popular destination. However, thanks to a complex US tax system that taxes its citizens and green card holders when they live and work in different countries, it’s …
The mismatch in UK and US taxation of rental property income
Changes to the UK taxation of rental property are increasing the taxes on an individual’s rental and for US persons, taking the UK and US tax treatment further apart. The UK will now only allow limited tax relief for mortgage …
The US taxation of a mortgage foreign exchange gain
For US tax payers living overseas, the redemption, re-arrangement or capital repayment on a mortgage that is not denominated in USD can result in gains being realised and US tax becoming due with their Federal tax return. This is because …
Expatriation: More Americans renounce US citizenship but why?
A record number of Americans renounced their US citizenship last year, what we call expatriation, but should this be surprising, as more and more US persons find out about their filing obligations and the complexity involved. I suspect the greater …
