Ok, reading the previous thread on the 401K subject made me want to try a slightly different one.
I am a US Citizen with a partner (UK citizen currently living in the UK) in the UK and plan to move to the UK in April of '06. I will be employed and payed through a UK entity of a global company. This would be a long term move (at least 5 years), though depending on the job, I may be working outside of the US and UK a good portion of the time. I figure that I have a good opportunity to do some tax planning.
My first question is on 401K. Does it make sense to leave the 401K rolled over into a qualified investment though I may not work in the US again? Am I correct in assuming I can't roll that over into the self directed pension schemes in the UK without incurring penalties at least in the US? Would on option be to withdraw the money in the US, keep it in the US but not move the money to the UK?
The second is that the plan is to take the equity from the sale of the house here in the states (a significant amount) and use that to invest in primary residence in the UK. What sort of taxes and liabilities will I incur by doing this?
For tax purposes in the UK, does anyone know if the new domestic partnership registration that will go in effect nationally in December of '05 have any tax advantages for us, where I am a US citizen and my partner is a UK citizen? I know the immigration laws and rules well, but taxes haven't been my forte...
Thanks,
Kit