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2017/18 UK year–end tax planning for US individuals.

As we draw to the close of the current UK tax year, Buzzacott’s Expatriate Tax Services team have pulled together the key tax points that US individuals should consider.

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:

Martin Scullion

Director

Expatriate Tax Services    

T | +44 (0)20 7556 1207

E | scullionm@buzzacott.co.uk

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We know how both systems work from the inside, out. Talk to us about how best to manage your income, reduce liability and pay the correct local tax. We’ve had the pleasure of supporting many internationally mobile workers through pivotal stages in their lives from our London office. Buzzacott’s Hong Kong team looks after US and UK nationals living across Southeast Asia.

  • UK tax advice
  • US tax returns for UK-residing American citizens
  • UK tax returns for non-UK residents with UK source income
  • UK tax advice about UK statutory residency rules
  • Pre-departure/arrival planning, including assignment structuring
  • Inheritance tax advice

Help with US tax services

  • Tax advice: foreign tax credit optimisation, deductions, tax-efficient investments and pension planning
  • US Federal and State income tax returns (corporate, partnership, trust and non-US pension reporting for UK-resident US citizens)
  • Foreign bank account reports
  • US estate and gift tax returns
  • Back year returns (including reasonable cause statements)

We work hand-in-hand with our Global Mobility team who can advise you on managing an international workforce. And you’re welcome to share your queries with Buzzacott’s other specialists, from HR to financial planning. Thanks to our membership of the PrimeGlobal international association, we can also connect you with trusted experts worldwide who deliver the same quality of service you expect from us.