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Topic: Contributing to 401k/IRA and UK taxes  (Read 1020 times)

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Contributing to 401k/IRA and UK taxes
« on: June 23, 2009, 09:34:37 PM »
Hi, just wondering whether anyone has been contributing to their US IRA/401k while living and working in the UK? And if so, does it help in terms of UK taxes? Thanks!


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Re: Contributing to 401k/IRA and UK taxes
« Reply #1 on: July 02, 2009, 06:50:56 PM »
I think you can only put money into an ISA if  you pass a minimum threshold of US earned income. Interest income doesnt count. So if you are paid in £ in the UK, that does not count as US earned income, and will restrict your ability to put money into an IRA.


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Re: Contributing to 401k/IRA and UK taxes
« Reply #2 on: July 02, 2009, 07:28:10 PM »
I would have thought putting money into a private IRA (i.e. not one associated with one's job) is irrelevant of income?  So if I win the lottery today, quit working for life, wouldn't I still be able to put the $5,000/year into my Roth IRA?  (Assuming, of course, that I still qualify income-wise to utilize a Roth IRA.)
Moved to London February 5, 2010


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