Most US citizens and long-term residents (green card holders) are subject to tax in both the US and the UK. Year-end tax planning is therefore something that has to be considered twice, in the battle to minimise global taxes.
In most cases, UK tax is higher than the equivalent US rate, but that is not always the case and so it is always worth taking specific advice before taking any action. Notwithstanding that, some things that are sensible for UK taxpayers are less appealing for a US taxpayer.
For the complete guide on UK tax year–end planning, please click here.
US clients and contacts will have received a tax planning memorandum in December with a reminder of what should be considered before the end of the US tax year, while the deadline has now passed it will prove useful for next year. If you did not receive that, please see here.
How we can help
Buzzacott's 50-strong Expatriate Tax Services team of dual-qualiﬁed US and UK tax advisors can guide you in making decisions that work in both the short- and long-term, while avoiding pitfalls and unexpected consequences.
For further guidance and advice tailored to your situation, please speak to your usual Buzzacott contact or:
Expatriate Tax Services
T | +44 (0)20 7556 1207
E | firstname.lastname@example.org