Managing a US-based 401(k) or IRA pension plan as a non-resident is not always straightforward, especially when nearing retirement or wanting an optimal plan to fund it. If you previously worked in America, moved from the USA to work overseas and settled in the UK, you’ve probably built up pensions in the USA and UK. […]
UK Financial Advisor for Your 401k / IRA US Pension as a Non-US Resident Read More »
For US citizens residing in or dual nationals living in the UK, maintaining tax compliance with IRS requirements can be confusing. IRS law states that US citizens (even if they live abroad) must report their worldwide income and disclose certain financial assets. This checklist has been compiled to guide you through finding the IRS tax
IRS Tax Filing Guide for U.S. Citizens in the UK Read More »
Understanding 401(k) Plans: Key Insights for US and UK Expats A 401(k) is America’s most commonly used defined contribution retirement plan. A defined contribution plan allows employees to save for their retirement through tax-deferred contributions. That means that an employee can transfer a fixed portion of their salary (before taxes) into the 401(k) plan while
US Pension (401k) when living in the UK Read More »
This case study explores how a US person, married to a British man and living in the UK, successfully set up ISAs for their children despite initial online reading suggesting it was impossible due to their Children holding US passports. The couple wanted to start saving for their children’s future through ISAs but were previously
Case Study: How a US-UK Family Secured Their Children’s Financial Future with ISAs Read More »
Are you an American living in the UK, dreaming of owning your first home but struggling to find the right saving strategy? The Lifetime ISA (LISA) might be the solution you’re looking for. This innovative financial product is designed to help savers accumulate funds in a tax-efficient manner while also offering attractive bonuses for long-term
How Americans Can Use a Lifetime ISA (LISA) to Save for Their First Home Read More »
Discover how contributing to your pension could be more affordable than you anticipate, thanks to the benefits of tax relief. The government generously provides a basic rate tax relief boost on your contributions, making your pension investment stretch further. For individuals under 75 and residing in the UK for tax purposes, this means significant savings.
Pension Tax Relief Calculator: Maximise Your Savings Read More »
The calculator breaks down the complex U.S. tax reporting rules into manageable questions, making it easier for you to understand your obligations without needing to navigate the intricate IRS guidelines. We have tried to simplify but individual circumstances and important and tax rules may change before we can update this calculator so its guidance only,
Calculator to answer “Do I need to report my ISA to the IRS?” Read More »
In the intricate world of cross-border finance, U.S. taxpayers residing in the U.K. often grapple with the complexities of leveraging Individual Savings Accounts (ISAs) for their financial advantage. Here are some of the common questions we hear/ This guide sheds light on the critical considerations and potential pitfalls of using ISAs for U.S. citizens in
ISAs for U.S. Taxpayers in the U.K: A Comprehensive Guide Read More »
