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Search: Posts Made By: durham_lad
Showing results 1 to 25 of 1000
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Forum: Moving back or to the UK
Apr 22nd 2024, 9:12 pm
Replies: 3
Views: 362
Posted By durham_lad

Re: US 401K, HK MPF and UK employer pension

For sure when she takes 401k distributions they will have 30% withholding by law and she will have to file a non-resident US return to reclaim some or all of it back. Lump sum distributions will only...
Forum: USA
Apr 22nd 2024, 9:03 pm
Replies: 10
Views: 1,331
Posted By durham_lad

Re: Moving back to the UK , do I go for dual citizenship

Back in 2015 we opened an HSBC US account which supports UK addresses and phones and does not use a phone number for security verification codes. Since then they have closed that option except for...
Forum: USA
Apr 19th 2024, 7:15 am
Replies: 3
Views: 395
Posted By durham_lad

Re: FinCEN Report 114 strange response

I just checked and my wife and I submitted our Fincen reports in February and received the usual receipt notices.
Forum: Moving back or to the UK
Apr 17th 2024, 7:52 pm
Replies: 18
Views: 3,844
Posted By durham_lad

Re: US Social Security Moving Back to UK

Yes, and if you are resident in the UK then only UK taxes, it is not taxed by the IRS.
Forum: The Trailer Park
Apr 16th 2024, 1:54 pm
Replies: 50
Views: 4,884
Posted By durham_lad

Re: Wise.com - New verification Process

This morning I just did a transfer of over $30k using the Wise app and no questions asked, the money arrived in my UK bank seconds later.
Forum: USA
Apr 15th 2024, 7:16 am
Replies: 6
Views: 514
Posted By durham_lad

Re: Form 8606 - Part 1 missing

Yes, you pay tax on the gains which is why it is important to file the 8606 correctly. In our case we converted our IRAs to Roths after 15 years of making contributions when we retired. Roths were...
Forum: USA
Apr 15th 2024, 7:12 am
Replies: 10
Views: 707
Posted By durham_lad

Re: What to do with primary home before moving to US?

That is exactly what we did, moved back to England after retiring. We had sold our house shortly after moving to Texas and certainly no regrets in doing so.
Forum: USA
Apr 13th 2024, 7:35 am
Replies: 6
Views: 514
Posted By durham_lad

Re: Form 8606 - Part 1 missing

+1

I think we made our first IRA contribution around 1995 and kept up with IRA contributions and 8606 filings every year until we retired in 2010. There is an 8606 per person if you are married...
Forum: USA
Apr 12th 2024, 4:36 pm
Replies: 6
Views: 550
Posted By durham_lad

Re: Pension Lump Sum - Aviva

That seems really sloppy by Aviva. I make UK bank to bank transfers regularly and the first time I add a payee my bank compares the sort code, account number and account name of the recipient and...
Forum: USA
Apr 9th 2024, 7:12 am
Replies: 17
Views: 1,249
Posted By durham_lad

Re: No bank account without address // Cannot rent without a bank account

We moved over about the same time and did the same as you. Although it was a big megacorp transfer and they were extremely helpful they did not assist with getting SSNs for my wife and children who...
Forum: USA
Apr 8th 2024, 6:39 pm
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

I agree completely and was not surprised that after they caught him trying to pass through the USA on his way to Mexico in 2006 on his UK passport that the IRS had him firmly in their sites. I read...
Forum: Moving back or to the UK
Apr 8th 2024, 3:21 pm
Replies: 7
Views: 582
Posted By durham_lad

Re: Which cities in UK is the best for meeting Indians?

Here is a decent piece on some of the best places for Indians to settle.

https://www.profee.com/articles/top-places-to-live-in-the-uk-for-indians
Forum: Moving back or to the UK
Apr 8th 2024, 7:00 am
Replies: 20
Views: 2,126
Posted By durham_lad

Re: Experience/advice moving back to UK

Great news, I find the NS&I to be a great place to put savings but hadn’t realized that you no longer need to be UK resident to open an account.
Forum: USA
Apr 6th 2024, 10:14 pm
Replies: 17
Views: 1,249
Posted By durham_lad

Re: No bank account without address // Cannot rent without a bank account

You can open a Wise USD account with debit/ATM card from the UK as well as using your UK bank and credit cards until you get settled.
Forum: USA
Apr 6th 2024, 3:53 pm
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

And he was royally screwed between 2006 and 2016 while he caught up on US taxes.
Forum: USA
Apr 6th 2024, 3:36 pm
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

That article is 2 years old and possibly one of the reasons for Sunak losing the leadership race to Liz Truss that month. By the time Truss was ousted a few weeks later his wife had started paying UK...
Forum: USA
Apr 6th 2024, 2:01 pm
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

I could be wrong but I don’t believe she has changed her status, she is simply paying taxes by choice as if she was not a non-dom, she hasn’t gone through that HMRC flowchart of questions and changed...
Forum: USA
Apr 6th 2024, 1:27 pm
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

it is more common than you may think. A number of members of the House of Lords are non-doms and a few years ago they modified the rules to say that if you are a non-dom then you can’t cast votes in...
Forum: Moving back or to the UK
Apr 6th 2024, 10:41 am
Replies: 7
Views: 582
Posted By durham_lad

Re: Which cities in UK is the best for meeting Indians?

My wife and I spent 4 years living in Bradford and 6 years living in Leicester. Both had large Indian & Pakistani populations but we preferred Bradford because it is very hilly and in or close to...
Forum: USA
Apr 6th 2024, 7:31 am
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

Don’t confuse marginal tax rate with net, (effective) tax rate. The average worker in the UK pays around 23% tax on their gross income. I paid 20.6% of my gross income last tax return but that is on...
Forum: The Trailer Park
Apr 5th 2024, 3:55 pm
Replies: 50
Views: 4,884
Posted By durham_lad

Re: Wise.com - New verification Process

I understand.

But you still could have your Wise account linked to your pension provider and your UK bank listed on your Wise account so that you only have to do one login, to your Wise account,...
Forum: USA
Apr 5th 2024, 3:50 pm
Replies: 16
Views: 1,243
Posted By durham_lad

Re: Do you really want to move to Florida?

I wondered the same thing but being gay in Florida must be very intimidating so I understand why you mentioned it. The ban on abortion after 6 weeks was also recently upheld by Florida’s Supreme Court
Forum: USA
Apr 5th 2024, 7:11 am
Replies: 35
Views: 1,843
Posted By durham_lad

Re: Rishi Sunak held Green Card for 6 years as MP

With a net worth of £700m I would think he can afford decent tax accountants. Rich world problems.
Forum: The Trailer Park
Apr 5th 2024, 7:05 am
Replies: 50
Views: 4,884
Posted By durham_lad

Re: Wise.com - New verification Process

The way I have it set up requires only one sign-in and I would have thought that the OP could do the same, however, having it paid directly to his foreign bank is best if the UK company managing his...
Forum: The Trailer Park
Apr 4th 2024, 9:23 pm
Replies: 50
Views: 4,884
Posted By durham_lad

Re: Wise.com - New verification Process

I have been very pleased using Wise and have it linked to my US pension account for bringing the money over.
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