Picture a street of rainbow-coloured houses. On one side of the road is a British tax inspector with one rulebook; on the other side of the street an American tax inspector with another rulebook. Each house in the street represents an investment product or ‘tax wrapper’. Each tax inspector’s has different rules so looks at […]
A Tale of Two Taxmen: How the UK and US View Tax Wrappers Read More »
New documents published by Mcgrathnicol linked to the liquidation of Brite Advisors Pty Ltd (these are listed below) begin to outline some actions that beneficiaries will soon have to complete. To provide some guidance on what a beneficiary should expect, we have attempted to summarise the documents. From the documents provided, beneficiaries have several essential
Actions on beneficiaries for Brite Adviser liquidation Read More »
Labour’s first budget warns of pain ahead, so here is an outline of the current inheritance tax and capital gains tax regimes that are under the spotlight With the Labour government’s first budget looming after we return from summer holiday’s there is much speculation (and dread) about the government’s long-promised tax reforms. Speaches of pain
What could some of the budget changes be in Oct 2024? Read More »
In this case study, we provided assistance with US inheritance paperwork to the niece of a beneficiary, who had to navigate a dizzying array of unfamiliar financial terms, how to handle an individual retirement account (IRA) inheritance, and forms for inheriting a US annuity that was issued by a US Mutual. Background Information Personal/Financial Situation: The client
Case Study: Navigating Complex US Inheritance Paperwork for a UK Beneficiary Read More »
With a batch of updates in the past couple of weeks, we thought an outline of what had occurred may be helpful, as lots of documents have been added to the Recievers website. Importantly, a distribution framework was submitted to the Court on 8/9th August, and we summarise what this means as it is the
Cash distribution plans and client statements for Brite Advisors Read More »
Introduction to the August Reflective Series As we enter the quiet and holiday month of August, a time when many take a break from the hustle and bustle of daily work life, we find ourselves pausing to look back on our journey. It was a cold January in 2014 when our firm first opened its
Growing into Our Teenage Years Read More »
Navigating retirement savings can be complex, especially for individuals who have worked or lived in both the UK and the US. This article will compare Self-Invested Personal Pensions (SIPPs), Individual Retirement Accounts (IRAs), and 401(k) plans, focusing on age-related and inheritance considerations. We’ll address common questions that may arise for Americans residing in the UK
Restricted Stock Units, or RSUs, are shares of stock that are granted to employees by US companies. With many American companies with UK subsidiaries, it’s common for stock awards to be part of the remuneration of employees. US-based employees sometimes transfer to work in the UK, so how are they taxed for those receiving these
RSU awards for employees and financial advice Read More »
This case study explores how an individual with substantial cash holdings in various accounts consolidated their funds into one platform to achieve better returns, avoiding the low interest rates and fees associated with traditional bank and stockbroking accounts. To consolidate cash savings into a single platform offering better returns than traditional banks and avoid the
Case Study: How One Individual Maximised Cash Returns by Consolidating Funds Read More »
This case study examines how a business owner effectively took profits from their company while simultaneously saving for retirement through both company contributions and personal contributions from a secondary PAYE job. Personal/Financial Situation: The client is a business owner who also holds a secondary job where they are paid through PAYE. They wanted to take
Case Study: Strategic Retirement Planning for a Dual-Income Business Owner Read More »
ISA Season. Open Shares ISA Online. Accepts US UK Citizens. More details.
