Professional advice on moving back for retirement
#1
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Joined: Jan 2021
Location: Buffalo New York
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Professional advice on moving back for retirement
Hi all, im a 58 year old British person living in US since 2007 on a green card. Missing the UK terribly now and plan to retire in 2022 when im 60 and return to U K. I have qualified for SS over 40 credits and will have UK pension, i have investments in the US and would like to get some professional advice on the process, investments, US SS, banking, US citizenship if necessary. Can anyone recommend a firm that can help?
many thanks
many thanks
#2
Re: Professional advice on moving back for retirement
Kieran Lynch of Lynch Accountng in Crewe. We use him for Canadian and UK tax, but I believe he also handles US tax too. Might be worth an equity. Good luck with everything.
#3
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Re: Professional advice on moving back for retirement
Why are you looking for US citizenship if you are thinking of moving back to UK and retiring?
Unless you think you might want to spend months in the US in the future getting US citizenship seems an unnecessary move?
Unless you think you might want to spend months in the US in the future getting US citizenship seems an unnecessary move?
#4
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Re: Professional advice on moving back for retirement
I agree. It is expensive being a USC living overseas, being taxed on worldwide income regardless of where you live. The OP will still get his SS as a non-citizen and it will only be taxed in the UK.
#6
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#7
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Re: Professional advice on moving back for retirement
#8
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Re: Professional advice on moving back for retirement
I'm a bit confused. I'm also on a green card and hope to retire and move back to the UK in about 2023. I had assumed that you would still be liable for exactly the same overseas tax whether you become a US citizen or not. I had assumed that if the bulk of one's money was coming from the States then one would be better off becoming a citizen just for security reasons. Am I wrong?
I haven't decided yet whether to take out citizenship, but was planning to . . . would I be better off staying on a greencard?
I haven't decided yet whether to take out citizenship, but was planning to . . . would I be better off staying on a greencard?
#9
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Re: Professional advice on moving back for retirement
I'm a bit confused. I'm also on a green card and hope to retire and move back to the UK in about 2023. I had assumed that you would still be liable for exactly the same overseas tax whether you become a US citizen or not. I had assumed that if the bulk of one's money was coming from the States then one would be better off becoming a citizen just for security reasons. Am I wrong?
I haven't decided yet whether to take out citizenship, but was planning to . . . would I be better off staying on a greencard?
I haven't decided yet whether to take out citizenship, but was planning to . . . would I be better off staying on a greencard?
#10
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Joined: Jan 2021
Location: Buffalo New York
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Re: Professional advice on moving back for retirement
Thank you everyone for your responses. Regarding GC we have to give that up when we move back as far as im aware. My concern is that ill be in the UK for several years before im eligible for US SS. Im wondering how thats going to work in practice, these are not the easiest people to get help from. Do i have to give up my SSN, in which case how do you even go about applying? I also thought we are luable for US taxation just simply because claiming SSN? Am I overthinking this
#12
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Re: Professional advice on moving back for retirement
Thank you everyone for your responses. Regarding GC we have to give that up when we move back as far as im aware. My concern is that ill be in the UK for several years before im eligible for US SS. Im wondering how thats going to work in practice, these are not the easiest people to get help from. Do i have to give up my SSN, in which case how do you even go about applying? I also thought we are luable for US taxation just simply because claiming SSN? Am I overthinking this
https://uk.usembassy.gov/u-s-citizen...eral-benefits/
send a message to them here, which is what my wife and I used in applying for Medicare last year.
https://uk.usembassy.gov/u-s-citizen...email_enquiry/