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Topic: Us pension and investment income  (Read 953 times)

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Us pension and investment income
« on: August 25, 2020, 02:46:38 AM »
Hi,

My wife and I are considering retiring to UK from WI. I have citizenship in both countries.

We plan to keep some of our Investments in the US (stocks we don’t want to sell etc.) and will also both have pension income from prior US jobs.

I assume/hope this US income will not be double taxed but can’t figure out which country it will actually be taxed in, and in which country relief will be given?

Any advice and/or links to explanations much appreciated. All my searches led to explanations about how UK income would be taxed,  not the US income.

i know any UK income i


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Re: Us pension and investment income
« Reply #1 on: August 25, 2020, 09:04:16 AM »
Have you read the Double Taxation Agreement?

https://www.gov.uk/government/publications/usa-tax-treaties

Foreign tax credits prevent double taxation but in general both countries tax worldwide income and the DTA defines which country is the primary taxation authority. For example I have US private pensions which are taxed in both countries and I use foreign tax credits to reduce the taxes paid in the US. I know someone who has a US government/State pension and that is only taxed in the US but his US SS is only taxed in the UK.
Dual USC/UKC living in the UK since May 2016


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