Hello
Guest

Sponsored Links


Topic: UK & US Financial Advisors?  (Read 1127 times)

0 Members and 1 Guest are viewing this topic.

  • *
  • Posts: 2898

  • Liked: 163
  • Joined: Feb 2007
  • Location: Biggleswade
UK & US Financial Advisors?
« on: August 15, 2009, 05:07:19 PM »
Hi all,

Anyone know of a good financial advisor with knowledge of US & UK investments and taxes?  I'm the USC, living in the UK, shortly to be married to a UKC, and I need to get some advice regarding money matters.  For example, I have no idea if it'd be better to keep contributing to my US IRA or to open an ISA in the UK, and that's just one question out of many.

Any suggestions appreciated.

Carl


  • *
  • Posts: 114

  • Liked: 0
  • Joined: Aug 2006
Re: UK & US Financial Advisors?
« Reply #1 on: September 04, 2009, 03:56:48 PM »
This is a tricky subject as tax professionals aren't qualified as investment advisors. But you could try

http://www.britishamericantax.com/

Now to your question. Firstly you need to know your UK residency status to decide what's best to do, but investing in a UK ISA might not be a good deal as the IRS doesn't recognize it's UK tax free status and you'll have to pay US tax on any gains and interest. If you declare income on your US return you can contribute to the IRA, but I'm not sure how the UK would handle that. The whole field of retirement savings is highly complicated.

One simple investing truth for US citizens living in the UK though. Don't invest in UK based collective investments like mutual funds and unit trusts as the IRS has nasty tax rules for those.


Sponsored Links