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How does a trust become a US problem?

Global mobility is on the increase with more and more organisations moving towards globally integrated operation models in an effort to develop, retain and attract the best talent. Here, we look at the lifecycle of an expat.

Last updated: 31 July 2018

At Buzzacott we are no exception to this trend and over the years we have increasingly expanded our offering to the benefit of our clients and our people. In fact, 2013 witnessed one of the biggest changes to our firm – we broke our near 100-year-old tradition and opened Buzzacott’s first office overseas in Hong Kong.

Practicing what we preach, we relocated Partner Carlo Gray and Senior Manager Ishali Patel to Hong Kong to lead this new venture of Buzzacott. Supported by the resources of the 50-strong Expatriate Tax Services team in London, Carlo and Ishali have now been expats in Hong Kong for over two years where they help others like themselves overcome the challenges that a global assignment can bring.

Based on Buzzacott’s expertise and their own experiences, here we’ve given a brief overview of the different stages of the lifecycle of an expat and what businesses and employees should be aware of.

How we can help

Together, Buzzacott’s Expatriate Tax Services and HR Consultancy teams help employers managing an internationally mobile workforce handle a multitude of individual wants and needs, as well as providing expert advice on tax and compliance risks. Whether you are in need of specific tax, HR or general global mobility advice, please get in touch to see how we can help.

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Take the pressure off your in-house resources by adding our team to yours. We offer joined-up tax and payroll solutions, plus HR support for relocating employees and their families. You can lean on our global mobility team throughout. The better we know you, the more practical and personalised our advice can be.

How we can help

Wherever you are based, our dedicated experts can guide you and your staff through the maze of local liability and legislation. We can support you with:

  • Residency reviews, including arrival and departure briefings
  • Preparation and review budgets for relocation and living expenses
  • Preparation of financial statements on employees’ reportable income
  • Social security certificate of coverage applications
  • US and UK tax returns and compliance 
  • Liaison with HMRC or the IRS on your behalf 
  • FATCA and CRS advice
  • Payroll compliance including year end/monthly payroll requirements
  • Payroll reporting and structuring (to avoid double taxation)
  • Shadow payroll in countries such as the US
  • Planning for exits and completion

While our primary focus is in the US and UK, we can draw on our membership of PrimeGlobal and collaborate with over three hundred independent public accountant firms around the world, which allows us to provide advice on a global scale.

Our HR specialists can ensure your globetrotters make stress-free transitions and hit the ground running by:

  • Arranging employee induction plans and cultural business coaching
  • Advising relocating partners and spouses on business/medical insurance
  • Reviewing secondment contracts for complicity with UK law
  • Supporting individuals and internal HR teams with employees throughout their assignment

Download this useful resource

The life cycle of a global assignment

Video: Making a success of your international assignments through expat agreements

Read more…

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