Chorlton

I know, I should I've done a six stretch and still havent got it. WHat are the downsides to having it - the tax returns? anything else? Did anyone regret not getting their USC?

Jerseygirl

Make sure you keep your options open...that's what I say. That way you can always return if you wish. Never say never.

TruBrit

it'll be an 8yr stretch for me when i head back and i will not be getting mine...no advantage in my case. i know of many others that have not naturalised. only you know if you ever want to live back in the usa permanently again.

Leeds_Lass

Chorlton I've just started the USC process and there's a good chance I'll end up back in the UK. The only downside I could think of, after thinking it through pretty well, was that every year you have to submit a tax return to Uncle Sam. Now, I'm not very well clued up on the whys and wherefores but I do know that you are protected by some tax agreement thingie between the UK and the USA that if you earn up to a certain amount ($80k?) you won't be double taxed. There's a brilliant thread somewhere on this board that goes into detail pretty well about a US citizen's responsibility to file their tax return if living abroad but of course I can't find it now I need it :curse:.

Other than the pain in the bum of filing the tax return, I can think of no other downside. You're not required to give up your UK citizenship and (more knowledgeable members *coughElviracough* please correct me if I'm wrong here) I don't think there is a "waiting" period after you get the USC where you have to stay in the US.

Dave_Was

I think that you're right that the taxes are the biggest implication of getting US citizenship, especially if returning to the UK.

As well as the regular year to year earnings, I would also look into what the situation is with regard to other tax issues. For example, inheritance, gifts, estate planning, opening a business, etc.

I've just got my green card so it's a long way away before I can even apply.

Good luck.

Leeds_Lass

Found it! this link you might have to scroll down for the discussion about tax returns etc., but the OP raises some great points about returning home from the US so it's worth a read imo.

USAGypsies

We went home last Christmas for what we believed at the time to be our return, however we did a 180 and are now back here to get our USC'ships before we go back to the UK to live.... IF we go back to live.... (just need to check which way the winds blowing)!


Regarding the whole tax filing subject. Let's just say we moved back home to the UK after getting our USC'ships and we didn't bother to file tax returns in the USA.... then what? Does anyone know what would happen??

Jerseygirl

Do you remember what happened to Al Capone?

USAGypsies

ermmmmmm...... actually, no

Sally Redux

Alcatraz.

scrubbedexpat097

He died of heart failure...............it shocked him so much when he was arrested for tax evasion

Sally Redux

In England

Jerseygirl

Here you go:

http://en.wikipedia.org/wiki/Al_Capone

Although he was probably America's most notorious person in the day...the Feds couldn't pin anything on him. In the end the IRS nailed him for tax evasion.

scrubbedexpat097

The man from the VAT came knocking on his door......

USAGypsies

LOL I've been educated! Seriously though, surely not every single naturalized US cit that leaves the USA files tax returns.
I'm wondering this though... if the wife is a uscit and a britcit and the husband is just a britcit and the wife didn't work, would she have to declare the husbands uk income on her us tax return?