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Topic: Taxes- who to use?  (Read 1300 times)

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Taxes- who to use?
« on: January 19, 2017, 09:23:18 PM »
Hi I'm an American expat in the UK. I have lived here for 9 years- 8 of which i was a stay at home mom. I now work part time and my British husband and I are starting his petition for us to immigrate back to the US.
I have received a few crazy expensive quotes for filing my taxes for the last 3 years of tax returns, as we will need these for our Visa.
My question is... I have found a company called Jeffe & Co International Tax consultants. they are a tiny fraction of the cost other lawyers have quoted me. Has anyone ever used them? How can i find out if they are legit?


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Re: Taxes- who to use?
« Reply #1 on: January 20, 2017, 07:13:45 PM »
Drop Bright!Tax an email. They specialize in this area, aren't expensive, and claim to offer a comparable service to the 'big 4' accounting firms.

Edited to remove self-promotional links
« Last Edit: February 03, 2017, 09:59:00 PM by Leah »
Disclaimer: Works for spammylink.pleasereportthispost


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Re: Taxes- who to use?
« Reply #2 on: January 21, 2017, 09:14:09 AM »
While I have never heard of Bright Tax here in the UK; most UK based individuals who do not feel confident handling their own tax returns will want to check that any proposed tax adviser is qualified with at least one professional accounting or tax professional body in the UK as well as in the United States so that they know that the adviser is adequately regulated in the UK and handles every day many of the complexities of the foreign aspects of the United States tax system.  Indeed, more broadly, for most UK based individuals there are often considerable advantages in having a UK based adviser who can jointly advise on both US and UK tax issues and (possibly) handle both sets of tax returns in the UK.

These include:
1.   The client and the adviser being located in the same time zone.
2.   Client documents and workpapers being held outside of the United States; which many people perceive as providing additional protection in the event of IRS audits.
3.   Advisers outside of the UK are unable to offer the protections to clients provided by the UKs Proceeds of Crime Act, which requires all tax professionals offering services in the UK to be regulated and supervised for anti-money laundering protection purposes.  Here in the UK it is a criminal offence to offer tax advice unless the adviser is supervised. Quite unlike within the UK, there is no requirement for mandatory regulation of tax advisers in most of the United States. 
4.   The fact that although there are roughly one million paid tax professionals within the United States, that there are naturally only very few amongst these who understand enough about the US reporting of foreign based taxpayers.
5.   Most tax advisers outside of the UK are not bound by the UK ethical standards that govern UK qualified advisers; which set out fundamental principles of integrity, objectivity, competence and care, confidentiality and behaviour (http://www.tax.org.uk/professional-standards/professional-rules/professional-conduct-relation-taxation).
6.   The opportunity in the unlikely event that things ever go wrong to get issues addressed through a supervisory body that is closer to the client than an adviser located several thousand miles away.
« Last Edit: January 21, 2017, 09:15:25 AM by guya »


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Re: Taxes- who to use?
« Reply #3 on: February 03, 2017, 03:28:03 PM »
Im using Bright Tax this year and just finished 2016 taxes today and couldnt be happier as the price was only $379. I used Greenback to get compliant and some years after that. Only thing is Green back raised their fees to $480 this year hence why I am using Bright Tax.


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Re: Taxes- who to use?
« Reply #4 on: February 03, 2017, 04:20:09 PM »
Be aware that here in the UK it is a criminal offence to offer tax advice unless the adviser is supervised. Quite unlike within the UK, there is no requirement for mandatory regulation of tax advisers in most of the United States. 


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Re: Taxes- who to use?
« Reply #5 on: February 16, 2017, 03:57:37 PM »
Im using Bright Tax this year and just finished 2016 taxes today and couldnt be happier as the price was only $379. I used Greenback to get compliant and some years after that. Only thing is Green back raised their fees to $480 this year hence why I am using Bright Tax.

Hi McLovin,

I emailed Bright!Tax yesterday and received a quote.  Just curious what you thought of their service?

I have also received a quote from Taxes for Expats - both companies say they specialise in US tax returns for expats.  I am thinking of going with one of them if I cannot get a UK based company, so I am curious to hear about your experience.

Thanks


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Re: Taxes- who to use?
« Reply #6 on: February 16, 2017, 05:22:17 PM »
Here in the UK it is a criminal offence to offer tax advice unless the adviser is supervised. You will want to check with any possible adviser who is their supervisor for the purposes of UK anti-money laundering rules. It is likely to be a professional body.

There are many excellent dual US/UK qualified tax advisers in the UK; who will understand how one optimises between US and UK tax rules to one's best advantage.


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Re: Taxes- who to use?
« Reply #7 on: February 21, 2017, 10:53:24 PM »
Can anyone suggest a UK based person who can do both at a reasonable price? Mine may be complicated by the fact that my wife might continue to work for US firms from there once we move in June for my new job there.

Thanks
« Last Edit: February 22, 2017, 05:52:03 PM by mrken71 »


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Re: Taxes- who to use?
« Reply #8 on: February 22, 2017, 04:28:44 PM »
Does anyone know whether £360 per year (including VAT) is a reasonable rate for an accountant (in London) to charge to file my US taxes? For whatever it's worth, I'm filing as married filing separately. Many thanks!
« Last Edit: February 22, 2017, 04:31:56 PM by minxy »
Priority spouse online visa application submitted: June 26 2014
Biometrics appt & sent off application: July 8
Application & docs arrived in Sheffield: July 11
Confirmation email from Sheffield: July 15
Decision email: Aug 18
Visa received: Aug 19
Moved to UK: Aug 22 2014
FLR(M) granted at premium service centre: April 20 2017


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Re: Taxes- who to use?
« Reply #9 on: February 22, 2017, 05:54:16 PM »
Does anyone know whether £360 per year (including VAT) is a reasonable rate for an accountant (in London) to charge to file my US taxes? For whatever it's worth, I'm filing as married filing separately. Many thanks!
That wouldn't be a bad rate back in the States, so I assume it's a good rate there. Does that person do both? Can you provide contact details?


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Re: Taxes- who to use?
« Reply #10 on: February 22, 2017, 06:51:19 PM »
That wouldn't be a bad rate back in the States, so I assume it's a good rate there. Does that person do both? Can you provide contact details?

Sure, I sent you a PM with the details.  :)
Priority spouse online visa application submitted: June 26 2014
Biometrics appt & sent off application: July 8
Application & docs arrived in Sheffield: July 11
Confirmation email from Sheffield: July 15
Decision email: Aug 18
Visa received: Aug 19
Moved to UK: Aug 22 2014
FLR(M) granted at premium service centre: April 20 2017


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Re: Taxes- who to use?
« Reply #11 on: February 22, 2017, 06:54:56 PM »
Thanks. I got it.


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Re: Taxes- who to use?
« Reply #12 on: February 23, 2017, 09:19:36 AM »
Does anyone know whether £360 per year (including VAT) is a reasonable rate for an accountant (in London) to charge to file my US taxes? For whatever it's worth, I'm filing as married filing separately. Many thanks!
It sounds really cheap, bearing in mind the accountant has to pay for software, continuing education, insurance and computer costs (plus other overheads). Is the accountant qualified in both the US and UK? If so with which professional bodies? How many years has the practice existed?


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