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Tax Advisor recommendations?

Tax Advisor recommendations?

Old Jul 5th 2021, 8:05 pm
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Question Tax Advisor recommendations?

Hi Everyone,

Myself and my wife are looking to move back from the US to the UK after 24 years . Our kids have left home and our parents aren't getting any younger...

We are US citizens now, which I guess has pros and cons.

Does anyone have any recommendations for accountants/advisors who could help us prepare?

Thanks
Steve
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Old Jul 6th 2021, 9:03 am
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Default Re: Tax Advisor recommendations?

Here is some useful info.

State taxes after moving to UK

Before leaving there are some financial things you can do such as:

rolling your 401k to an IRA with a brokerage that supports overseas customers. This is a non taxable event.

convert any mutual funds in taxable accounts to their equivalent HMRC Reporting ETFs. This may or may not be a taxable event.

create an online SS account and check your earnings record. You can easily access your SS account from the UK but it is difficult to set up for the first time from the UK without a US phone number or address.


You may also look into topping up your NI contributions. If you can get Class 2 contributions for back years while working in the USA it is cheap as chips and well worth the investment. Plenty of us also paid some Class 3 contributions as we approached retirement age as even that is a good investment in my opinion.

Topping up NI Contributions

Last edited by durham_lad; Jul 6th 2021 at 9:19 am.
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