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US Expat Tax: Don’t Lose Your Passport!

If you are an American have seriously delinquent tax debt, IRC 7345 authorises the Internal Revenue Service (IRS) to certify that to the State Department. The department generally will not issue or renew a passport to you after receiving certification from the IRS.   Upon receiving certification, the State Department may revoke your passport. If th ...

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US Expat Tax Deadlines You Need to Know

We are quickly approaching the first of several US tax deadlines – and as an American abroad, it’s time to begin preparing to file your US expat taxes. Since your reporting and filing requirements can be a bit more complex while living abroad, being prepared well in advance can set your mind at ease when it comes to staying compliant with the IRS. By David McKeegan Here are the most important dead ...

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Tax And Residence Rules For British Expats

You can still be liable for UK income tax even if you think you are safely non-resident. Make sure you pass the statutory residence test, writes Iain Yule. The UK’s statutory residence test is a welcome development after the old system, say advisers at expat specialists Blevins Franks, and provides much more certainty. However for more complicated cases it can still be rather complex and it is imp ...

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Better Late Than Never For US Taxes

When moving abroad, there are many logistics to consider – one of which is your US tax obligation. Occasionally, though, US expats find themselves in a situation where they haven’t filed a tax return – whether it’s because they were unaware of the deadline or perhaps didn’t know they needed to file. Luckily, there are ways to catch up on late expat taxes – here’s what you should know. By David McK ...

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Saudi Arabia To Tax Money Sent Abroad

The Saudi authorities are considering a tax on remittances by expats. By tightening the rules on employees sending money abroad the Saudi government aims to raise revenue. It is considering plans to impose a tax of up to 6 per cent on money sent out of the country by expats. New rules may also limit the level of remittances to a percentage of earnings, as the Kingdom looks for new ways to raise re ...

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Brexit And Expat Tax – New Service

A new service aims to offer expert tax advice at a time when expats and non-UK domiciles are digesting what ‘Brexit’ could mean for them. Over the coming months and years, this demand is likely to increase as more detail emerges on the potential legislative changes.   Tax planning for expats and non-UK domiciles has become increasingly complicated. There is increased scrutiny of people’s tax ...

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Beware The UK Stamp Duty Hike

From 1 April 2016, the UK taxman introduced a new higher rate of stamp duty which applies to the acquisition of a ‘major interest’ in an additional residential ‘dwelling’. So beware if you are buying property in the UK. A ‘major interest’ is defined as a freehold or leasehold interest, says Adam Thompson, tax manager at expat advisers The Fry Group.. A ‘dwelling’ is essentially a home but also lan ...

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Brexit And Workers Going Abroad

Following the UK referendum in June, there is considerable uncertainty surrounding how the vote to leave the EU will affect employers and employees who work internationally. While nothing is certain at present, says Anne-Marie Welch of tax specialists RSM, there are a number of tax issues to consider for UK employers who are either sending employees on international assignments or hosting incoming ...

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US Expats: Get the Facts Ahead Of The FBAR Deadline

With just a few days to go until the Foreign Bank Account Reporting (FBAR) deadline, you’ll want to make sure you’re aware of the requirements of this important US Treasury form. Here’s everything you should be aware of.   Breaking Down FBAR The FBAR, also known as FinCEN Form 114, is the form you use to report your foreign bank account information to the US Treasury, if you meet the filing t ...

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US Expats: Remember June Tax Deadlines

June is a very important time of year for US expats. Your expatriate tax return is officially due this month, along with your Foreign Bank Account Reporting (FBAR), if you meet the filing threshold. Here are the facts you should know so you can be prepared as the deadlines approach.   US Expat Taxes As you’re probably aware, as a US citizen, you’re required to file taxes on your worldwide income e ...

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