Boris Johnson has made a commitment to provide £25bn for NHS England, approximately £5bn for healthcare in the devolved nations and £5.3bn for social care. To raise these revenues, two taxes are being raised: National Insurance (NIC) – National Insurance contributions will be going up by 1.25% for individuals both […]
An update Since the US Presidential election nearly a year ago, there has been a lot of noise surrounding tax proposals and in particular, tax increases for US taxpayers. The most recent tax act is a draft legislation produced by the Ways & Means Committee on Monday, 13 September 2021. […]
Tax vehicles. They may not be the most exciting topic in the world but when employed correctly they can be an important tool in your wealth planning strategy, equally, if they’re mismanaged, they can result in unnecessary tax consequences. As an American overseas, if the disparity between tax vehicles on […]
Following a successful democratic election joint with the monetary stimulus, tax reform has been a hot topic. With the introduction of the ‘For the 99.5% Act’, we have the first glimpse of the potential changes on the horizon. It is key to note this is the first iteration of the […]
As one deadline passes, another approaches at least that is the case for American citizens living in the UK. Just as you exhale after the US deadline, it’s time to begin considering end of tax year planning for your UK tax affairs before 5th April. We’ve put together a non-exhaustive […]
“What do you think is going to happen to Capital Gains Tax?” This is currently the first item on the agenda in every client meeting. The second item, “And what should I do?” Something which is top of mind for all clients, becomes even more complicated for US citizens living […]
Selling a property in the UK In the UK, individuals benefit from Principal Private Residence (PPR) relief. This allows individuals to sell their main home and pay no capital gains tax, assuming a few conditions on occupation are met. Unfortunately, the Americans amongst us have another set of rules to […]
What does the UK and US mortgage process look like? Both the UK and the US operate under a highly regulated system with a broadly similar approach in relation to the assessment of an individual or entity looking to acquire residential real estate. Professional advice and guidance should be sought […]
Embarking on a life lived outside of your home country is an enormous undertaking. From applying for visas to moving and settling in, there are many things to be considered. As an American, moving abroad gives rise to a unique set of challenges by having to file a US tax […]