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Topic: UK/US tax preparation and financial advise  (Read 1157 times)

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UK/US tax preparation and financial advise
« on: October 07, 2015, 10:45:41 AM »
I am an American citizen who has lived in the UK for over 6 years now. I was just granted UK citizenship in May and have received my British passport also.
 
I am looking for an accountant/lawyer who can advise me on taxation issues involving a dual citizen and also help with tax filing. Also, I am planning to buy property in the next 12-18months and had some questions about that and how it effects tax and whether buying in the US vs UK has any advantages.

I have filed basic 1040’s since being here but may not have done them correctly. For example, I haven’t filled out any FBARs.



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Re: UK/US tax preparation and financial advise
« Reply #1 on: October 07, 2015, 12:50:08 PM »
I am an American citizen who has lived in the UK for over 6 years now. I was just granted UK citizenship in May and have received my British passport also.
 
I am looking for an accountant/lawyer who can advise me on taxation issues involving a dual citizen and also help with tax filing. Also, I am planning to buy property in the next 12-18months and had some questions about that and how it effects tax and whether buying in the US vs UK has any advantages.

I have filed basic 1040’s since being here but may not have done them correctly. For example, I haven’t filled out any FBARs.

If you are already UK resident and paying tax on an arising basis, then taking UK citizenship will probably not change your tax situation. FBARs are only necessary if you have more than $10k in your foreign accounts. If you want help there are a number of firms that advertise on this website (like Greenback tax and Taxesforexpats). Here are some smaller ones that will probably give you a more personal service, but I imagine cost more.

http://britishamericantax.com
http://www.americantaxreturns.co.uk/
« Last Edit: October 07, 2015, 12:51:20 PM by nun »


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