- Individual Tax
- US Tax Overview
- UK Tax Overview
UK Individual Tax Services
We prepare UK tax returns to HMRC for expats living in the UK and for anyone else who needs to submit a UK tax return.
First steps for US tax advice in UK jurisdictions
In order to establish what your tax obligations and liabilities are, it is first necessary to examine your status as resident or non-resident or domiciled or non-domiciled in the UK.
There are three statutory tests that will help you to determine your residence; fully explained on our rules of UK residency page:
- Automatic overseas test
- Automatic residence test
- Sufficient ties test
Domiciled or non-domiciled, either way, plan ahead
For US citizens who are non-domiciled it is important to coordinate tax planning in factoring in UK and US tax legislation. Early advice and planning can help to significantly reduce overall taxation and UK non-doms can often minimize their UK tax exposure. Income, capital gains and inheritance taxes will all be affected.
Significant changes have been introduced for individuals claiming UK non-dom status as recently as 6th April 2017. We review regulatory changes regularly and you can read more about non-domiciled status here.
It’s not just double taxation anymore
Most expats have long been aware of the risk of double taxation on their income and assets in both the UK and the US. It is important to remember that the United States has a network of tax treaties with many different countries, all of which also need to be kept in mind. With the advent of the Common Reporting Standard and other international cooperation, it is important to reduce exposure to double taxation by getting the best possible US tax advice in UK and around the world.
Getting up to date, once and for all
After navigating residency and domicile status as well as international tax treaties, HMRC wants you to voluntarily disclose any other tax obligations and get compliant and up to date.
Launched in September 2016, the Worldwide Disclosure Facility (WDF) is HMRC’s current scheme for taxpayers to come forward about unreported offshore tax liabilities. WDF is designed for taxpayers who need to disclose any UK tax liabilities that relate to offshore income or assets.
How can we help?
We can assist with the following:
- Preparation of UK income tax returns for UK residents and non-residents
- UK arrival and departure tax planning
- Dealing with HMRC with regards to your tax affairs
- UK non-dom tax planning
Contact our UK office for tax advice and planning, to answer any of your questions and to get further information about current regulations and any upcoming updates.
Did you Know?
Fact SevenThanks to FATCA banks must disclose their American account holders to the IRS or local tax authority.
Fact SixThe IRS is actively looking for non compliant US persons.
Fact FiveIt takes an average of 16 hours to do IRS Form 1040.
Fact FourThere are over 500 IRS tax forms.
Fact ThreeSince 1916, illegal income has been taxable.
Fact TwoUS persons must file tax returns no matter where they live and work.
Text One7 million Americans abroad
only 500,000 compliant