amancalledsun

Hi guys,

Hope you're all well.

Last year in May I moved back to the UK from the US after 6 years. I came back and set up a Ltd company and have continued to work for mainly US clients, although some UK ones also. I did make one last trip to the US in September to sort out a few bits over there and came back again in October. I then formally abandoned my green card in Jan 2020, I still don't have confirmation of this though.

I am now faced with the task of sorting out my taxes for the US and wondering if anyone had any insight into who gets what? I seems that my US accountant isn't too clued up on the matter and i'd feel a little more comfortable knowing that we're doing we're doing it correctly.

He is saying that I should just file to the US my income for the months that I was there in 2019. Does this sound correct?

On the other hand my accountant in the UK is saying i'd likely have to tell the US my full years income, then tell the UK when the time comes and whatever I have been taxed in the US will come off the UK tax bill.

Also, on the case of the FBAR. I have made a few deposits via Transferwise into my UK account and a couple of my bank accounts hold over $10,000. Does this matter at this point as I have left anyway? Do I need to tell them about my Ltd company here too?

Any input would help greatly!

Pulaski

So long as you had a green card you are liable for taxes on your world-wide income, so your British accountant is correct - file for the whole of 2019 in the US. You may be allowed to deduct money earned in the UK, and subject to taxation in the UK, during the later part of 2019, but I don't know enough to be sure of that.

If you still held a green card into 2020, even by one day, you will also need to do a US tax return for 2020.

amancalledsun

Pulaski— you're a star. As usual. Thanks.

Pulaski

You're welcome.