Hello
Guest

Sponsored Links


Topic: Questions for a Tax Newbie, do I need to file this year?  (Read 1493 times)

0 Members and 2 Guests are viewing this topic.

  • *
  • Posts: 69

  • Liked: 0
  • Joined: Oct 2014
Questions for a Tax Newbie, do I need to file this year?
« on: February 08, 2016, 04:36:23 PM »
Hello all,

I'm a US citizen and got married in August last year to a UK citizen, I've been in the UK since June 2015 (and off and on as a student before that).

I've never filed for taxes before as I've never earned enough, and last year I had no income.  I've just started working part-time, though that contract will be up soon, hoping I'll get a full time job starting in March. 

So what, if anything, do I need to file?  I know I will need to fill out an FBAR because for *one* day last year I had about $10,000 in my UK bank account (just over, depending on the exchange rate).  What should I do in regard to taxes and healthcare?  Obviously I would file separately. 

Break it down nice and easy for me please, I find it all a bit overwhelming.  Thanks in advance! 
USC
Tier 4: Sept 2011-Jan 2013
First met: January 2012
Started Dating: 9 April 2012
Tier 4: Sept 2013-Jan 2015
Became engaged: 10 January 2015
Fiancee visa received: 1 June 2015
Flight booked!


  • *
  • Posts: 1912

  • Liked: 58
  • Joined: Apr 2008
Re: Questions for a Tax Newbie, do I need to file this year?
« Reply #1 on: February 08, 2016, 05:42:18 PM »
Hello all,

I'm a US citizen and got married in August last year to a UK citizen, I've been in the UK since June 2015 (and off and on as a student before that).

I've never filed for taxes before as I've never earned enough, and last year I had no income.  I've just started working part-time, though that contract will be up soon, hoping I'll get a full time job starting in March. 

So what, if anything, do I need to file?  I know I will need to fill out an FBAR because for *one* day last year I had about $10,000 in my UK bank account (just over, depending on the exchange rate).  What should I do in regard to taxes and healthcare?  Obviously I would file separately. 

Break it down nice and easy for me please, I find it all a bit overwhelming.  Thanks in advance!

On your contract did you get a paycheck and and was UK income tax and National Insurance Contributions taken out or were you paid as a contractor...ie with no withholding?


  • *
  • Posts: 69

  • Liked: 0
  • Joined: Oct 2014
Re: Questions for a Tax Newbie, do I need to file this year?
« Reply #2 on: February 08, 2016, 06:34:55 PM »
National Insurance was taken out but not income tax as I didn't meet the threshold for it, though my first paycheck was only for 2 weeks of work.  My next one will have a full month.
USC
Tier 4: Sept 2011-Jan 2013
First met: January 2012
Started Dating: 9 April 2012
Tier 4: Sept 2013-Jan 2015
Became engaged: 10 January 2015
Fiancee visa received: 1 June 2015
Flight booked!


  • *
  • Posts: 1912

  • Liked: 58
  • Joined: Apr 2008
Re: Questions for a Tax Newbie, do I need to file this year?
« Reply #3 on: February 08, 2016, 06:55:00 PM »
National Insurance was taken out but not income tax as I didn't meet the threshold for it, though my first paycheck was only for 2 weeks of work.  My next one will have a full month.

OK that makes things easier for you as you won't have to bother filing as a sole proprietor in the US and probably won't have to file a UK self assessment. That assumes you don't have a lot of US source income and gains.

You might look into extending the filing deadline for your US taxes so that you qualify as a bona fide foreign resident and then you can use the FEIE or you could just use the UK tax that you've paid as a FTC on your US taxes.......either way you'll probably end up with little to no US tax to pay.


  • *
  • Posts: 4206

  • Liked: 777
  • Joined: Nov 2012
  • Location: Eee, bah gum.
Re: Questions for a Tax Newbie, do I need to file this year?
« Reply #4 on: February 08, 2016, 09:25:44 PM »

I know I will need to fill out an FBAR because for *one* day last year I had about $10,000 in my UK bank account (just over, depending on the exchange rate).   

For FBAR reporting the official exchange rate to use is that published by the Treasury for December 31st, 2015

https://www.fiscal.treasury.gov/fsreports/rpt/treasRptRateExch/currentRates.htm

The rate to use is $1 = 0.675 GBP ( 1 GBP = $1.481 )
« Last Edit: February 08, 2016, 09:27:18 PM by durhamlad »
Dual USC/UKC living in the UK since May 2016


  • *
  • Posts: 69

  • Liked: 0
  • Joined: Oct 2014
Re: Questions for a Tax Newbie, do I need to file this year?
« Reply #5 on: February 11, 2016, 05:10:38 PM »
Thanks for the feedback.  Should I file for that extension by the April deadline or June?
USC
Tier 4: Sept 2011-Jan 2013
First met: January 2012
Started Dating: 9 April 2012
Tier 4: Sept 2013-Jan 2015
Became engaged: 10 January 2015
Fiancee visa received: 1 June 2015
Flight booked!


  • *
  • Posts: 69

  • Liked: 0
  • Joined: Oct 2014
Re: Questions for a Tax Newbie, do I need to file this year?
« Reply #6 on: February 29, 2016, 02:55:48 PM »
*bump*

Sorry to bump this but I just need to check:
Is there anything I need to file for the April deadline, or is filing for the extension due in June?

Just to recap:
I had no earnings last year, but I moved to the UK in June and married a British citizen in August 2015.  So far this year I've earned less than £1000.  Are there any forms I need to fill out by April, or is it all June?

Thanks again!
« Last Edit: February 29, 2016, 02:56:53 PM by pocketdem »
USC
Tier 4: Sept 2011-Jan 2013
First met: January 2012
Started Dating: 9 April 2012
Tier 4: Sept 2013-Jan 2015
Became engaged: 10 January 2015
Fiancee visa received: 1 June 2015
Flight booked!


Sponsored Links





 

coloured_drab