Investments, PFICs , HMRC etc.
Has anyone solved the problem of investing in the UK as a US Citizen? I had to sell my investments when I moved back, so I'm earning basically nothing in my savings at the moment. I have spoken to someone at Creative Planning which I think was Thun Financial and they have ways to invest without falling foul of the various US vs. UK tax rules. Has anyone used them or similar with success? I wish I could open an ISA but apparently DO NOT OPEN AN ISA lol.
Laura |
Re: Investments, PFICs , HMRC etc.
I have not looked into investing outside the USA because of the PFIC consequences. Before leaving the USA I moved all our investments into a US brokerage that supports overseas customers. Just this week I opened a new ETF and moved some money into it. The brokerage even accepts a UK mobile phone for receiving login security codes.
Hopefully someone with better knowledge than I will come along with some suggestions. |
Re: Investments, PFICs , HMRC etc.
I am a dual citizen, OH is a permanent resident of the US. When/if we manage to move back to the UK, his residency will lapse but I will hold both citizenships. I was told (by a US accountant, so possibly wrong) that the best basic approach from a tax perspective was for me to own any US-based stocks/funds/accounts as the US citizen, and for OH to own any UK or other non-US-based ones. That's all once we are based in the UK though.
Would be interested to hear from someone with better knowledge too. |
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