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Topic: New joiner  (Read 517 times)

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New joiner
« on: January 05, 2018, 01:51:25 AM »
I'm Alastair, a married and retired dual national currently resident in Southern California and planning to return to UK in 2018 to be near to family and Europe.

I found the website very useful in thinking about US-UK tax issues.  Thank you!  I have been seeking professional advice from UK-based accountants with knowledge of US and UK tax laws, but it is super expensive, as you probably know.

The web discussions indicate that the tax on a resident's company pension and IRA distributions will only be in the UK.

I was not clear about which state will tax my US social security income.

Discussions have shown me that my Roth IRAs will continue tax free in the UK as in the US.

I'm wondering whether to divest of all real property and investments here in the US totally prior to moving back, or to take gains and pay the tax in the US before moving but continue to hold investments here but with a fresh cost basis.

Further, I'm going to have to understand the Estate duty rules (effectively, there is no estate duty in the US) but I can work on that when I am living in UK. 

Lastly, I am wondering what it is going to be like to return to one's country of birth after a 30 year absence.  Fortunately, we have been coming and going every year and read the British press regularly.  We are going to miss Southern Californian weather and friends for sure!

Thank you for this website, I think it is a great help for prospective movers!

Happy New Year, everyone!


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Re: New joiner
« Reply #1 on: January 05, 2018, 04:15:03 AM »
Hi Alastair, welcome! ;)
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.

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Re: New joiner
« Reply #2 on: January 05, 2018, 08:30:31 AM »
Welcome Alastair!

Best if you post your tax questions in the tax board.  We have some wonderful experts who can help but are unlikely to read them here.

Have you figured out the visa?  As you mentioned "we".  :)

I've only had one big move - to the UK about 8 years ago.  But I've studied expatriation and repatriation.  You'll likely experience some reverse culture shock returning to the UK.  And I'm sure it'll come as no surprise that life will have "moved on" in the last 30 years and Scotland will be very different to when you left.

Look out for Nan.  She recently moved to Glasgow after living in Southern California.  I think she is adjusting quite well.  :)

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Re: New joiner
« Reply #3 on: January 06, 2018, 09:05:54 AM »
Hey, did I hear someone take my name in vain?   ;)

Welcome Alistair!  Scotland is great. (And it's not on fire, just damp!)  Generally where in SoCal?

Social Security is taxable in the UK only. Thank goodness. The tax treaty is a godsend. As mentioned above, there are some good tax experts here who can offer you more advice on your other tax issues.

Good luck with the move!

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