US UK Cross border Tax expert
 

Hi,

I was hoping someone might be able to recommend a US UK cross border tax expert.

My situation is as follows:
- Resident in the US since 2008, GC since mid 2013
- UK citizen, wife is American
- UK property (currently rented), owned & principal residence 1996 to 2008, rented 2008 to present, substantial equity
- US property, owned since mid 2013, substantial equity (due to renovation & market price appreciation)
- Planning to move back to UK January 2017
- Not currently working, hopefully have a job offer for a role starting in January in UK :fingerscrossed:
-Meet all financial requirements for spouse visa

Other
- US property unlikely to sell before year end
- Ultimately want to sell the UK property in London sometime in 2018.
- No trusts, etc
- Need to be able to travel to US for business in 2017 and after

Thank you for any recommendations and advice.

L

Re: US UK Cross border Tax expert
 

This is a useful thread with good discussions and links to sites with tax pros.

http://britishexpats.com/forum/usa-5...dation-868962/

Re: US UK Cross border Tax expert
 

Dont know about USA but guess it is simila to Canada. We were advised to sell before we left. I would do it now even if you have to rent for a year. Move back into UK house. We had to pay capital gains on all assets worldwide but not on Canadian house. It gutted us having to part with so much money but is unavoidable. I would work out which house has the bigger gain.

Re: US UK Cross border Tax expert
 

It will make things less complicated if you realize all your capital gains before you move to the UK and this will also allow you to scrub your finances of things that might be troublesome as a UK resident....ie non-reporting funds held outside US retirement accounts. You should also look at how you will file taxes as you have a US citizen spouse. The recommendation is usually to do this separately if you are not a US citizen or resident.

A connected item is your US residency status. If you intend to move back to the UK permanently then you will be giving up your green card and should go through the process of renouncing it with the State Dept and making sure the IRS knows you are an NRA; look up I-407 and form 8854. If you retain the green card you will continue to have to file US taxes and will run the risk that it will be taken away. You might also look at getting US citizenship so that you and your spouse can move more freely together.

As far as tax people go, two to try are Liz Zitzow at

http://britishamericantax.com/

and David Trietel at

http://americantaxreturns.com