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Search: Posts Made By: Aoi
Showing results 1 to 25 of 65
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Forum: Moving back or to the UK
Sep 8th 2022, 9:41 pm
Replies: 15
Views: 1,300
Posted By Aoi

Re: Arranging tax for 401k/IRA

About 6 years ago I wrote to HMRC and received a reply which is quoted here:

‘A partial distribution is not considered to be a lump sum payment it would be treated as a pension payment for UK...
Forum: Moving back or to the UK
Sep 8th 2022, 4:52 am
Replies: 15
Views: 1,300
Posted By Aoi

Re: Arranging tax for 401k/IRA

This is my understanding assuming you are UK resident and not a U.S. person:

It’s safer to submit form W8-BEN with every distribution request than hope that they search the file for a W8-BEN...
Forum: Moving back or to the UK
Sep 8th 2022, 3:07 am
Replies: 15
Views: 1,300
Posted By Aoi

Re: Arranging tax for 401k/IRA

In my opinion, Partial Distributions, Regular Income, and RMDs are not 'Lump-Sum Distributions'. The IRS definition is here:
Topic No. 412 Lump-Sum Distributions | Internal Revenue Service (irs.gov)...
Forum: Moving back or to the UK
Sep 4th 2022, 6:29 am
Replies: 14
Views: 2,237
Posted By Aoi

Re: US Pension Lump Sum Early Withdrawal

I am not an expert. This is my understanding:

Article 17.2 will apply if you tick the box on the Retirement Distribution Request form for ‘’Lump sum distribution of total vested balance’.
...
Forum: Moving back or to the UK
Aug 21st 2022, 6:18 am
Replies: 13
Views: 917
Posted By Aoi

Re: Transporting puppy to UK

About ten years ago our dog travelled accompanied from Houston:

To Frankfurt on Lufthansa in the cabin (total weight of pet and carrier must be less than 8 kg)
Hotel in Frankfurt
Tapeworm...
Forum: USA
Mar 19th 2022, 7:12 am
Replies: 5
Views: 3,282
Posted By Aoi

Re: ISA Offering US Domiciled UK Reporting Funds/ETFs

The HMRC list of reporting funds is here:

https://www.gov.uk/government/publications/offshore-funds-list-of-reporting-funds

To find out whether a platform supports a fund copy the ISIN into the...
Forum: USA
Mar 18th 2022, 1:15 am
Replies: 5
Views: 3,282
Posted By Aoi

Re: ISA Offering US Domiciled UK Reporting Funds/ETFs

UK reporting status may not be necessary if the ETF is in an ISA or SIPP tax wrapper. You can search for ETFs here:

https://www.justetf.com/uk/

Expanding ‘Fund Domicile’ reveals no US...
Forum: USA
Feb 14th 2022, 6:06 am
Replies: 6
Views: 1,409
Posted By Aoi

Re: 401k for returned Brit

I agree with post #2.

I kept a US bank account open to deposit the distribution checks I received. A US bank account would also be needed to receive regular payments. The funds can be transferred...
Forum: USA
Sep 19th 2021, 3:45 am
Replies: 13
Views: 1,872
Posted By Aoi

Re: Rental funds from UK home - transferred directly to US

This might be difficult, expensive and unnecessary.

You can do the UK and US tax returns separately, taking the tax treaty into account.

HMRC gets first dibs on UK rental income. There is no...
Forum: USA
Sep 19th 2021, 2:10 am
Replies: 13
Views: 1,872
Posted By Aoi

Re: Rental funds from UK home - transferred directly to US

Allowing the managing agents to hold back the tax is more work for the agent. You still need to complete UK tax returns to pay the right amount of tax. I cannot recommend a tax agent but you could...
Forum: USA
Sep 18th 2021, 10:25 pm
Replies: 13
Views: 1,872
Posted By Aoi

Re: Rental funds from UK home - transferred directly to US

The CPA's advice is wrong. Having the rent transferred directly across to your US account will not avoid UK tax liability.
https://www.gov.uk/tax-uk-income-live-abroad/rent

It is usually best to...
Forum: Moving back or to the UK
Aug 31st 2021, 12:27 am
Replies: 4
Views: 1,636
Posted By Aoi

Re: Best Way to Redirect Mail US>UK

I used US Global Mail to forward my post for about 1 year after leaving Houston in 2015. There were no problems.

https://www.usglobalmail.com/
Forum: Moving back or to the UK
Jul 25th 2021, 6:28 am
Replies: 7
Views: 1,781
Posted By Aoi

Re: Stamp Duty

The Statutory Residence Test (SRT) allows you to work out your UK residence status for a tax year:

https://www.gov.uk/government/publications/rdr3-statutory-residence-test-srt

Stamp Duty Land...
Forum: Moving back or to the UK
May 30th 2021, 4:29 am
Replies: 34
Views: 4,271
Posted By Aoi

Re: Moving back to UK - Pet Relocation HELL

It may not suit you, but some years back our pug travelled accompanied from Houston to Frankfurt in the cabin on Lufthansa (weight less than 8 kg including lightweight carrier). Tapeworm treatment...
Forum: USA
Apr 25th 2021, 5:00 am
Replies: 5
Views: 891
Posted By Aoi

Re: US Tax return for minimal interest

Assuming that you are a ‘nonresident alien’, Article 11(1) of the UK/US tax treaty states:

1. Interest arising in a Contracting State and beneficially owned by a resident of the other...
Forum: USA
Apr 6th 2021, 4:55 am
Replies: 24
Views: 7,382
Posted By Aoi

Re: Intercompany transfer to Houston

I’m not saying that US taxes are not lower than UK taxes but the comparison is not as simple as it might appear.

Contributing £5k of the £55k into a pension would keep the income in the 20%...
Forum: USA
Apr 5th 2021, 4:16 am
Replies: 5
Views: 1,126
Posted By Aoi

Re: Moved back to UK and filing 2020 US Tax Return

taxact.com supports Dual Status tax returns.
Forum: USA
Apr 5th 2021, 4:03 am
Replies: 24
Views: 7,382
Posted By Aoi

Re: Intercompany transfer to Houston

It depends how much they want you and how keen you are to go. If the rent is say $2k per month, ‘$90k including accommodation allowance’ leaves $66k after rent, which is less than you get in the...
Forum: Moving back or to the UK
Dec 27th 2020, 6:03 am
Replies: 3
Views: 1,632
Posted By Aoi

Re: Company transfer US>UK (returning UK citizen)

Should be: '31 days in the current year, and;'

Refer to:
Taxation of Dual-Status Aliens | Internal Revenue Service (irs.gov)...
Forum: USA
Oct 27th 2020, 11:27 pm
Replies: 6
Views: 4,066
Posted By Aoi

Re: 401k now what?

A non-resident alien cannot claim the standard deduction.

https://www.irs.gov/individuals/international-taxpayers/nonresident-alien-figuring-your-tax



I have not found a definition of 'lump...
Forum: Moving back or to the UK
Oct 13th 2020, 2:27 am
Replies: 11
Views: 2,593
Posted By Aoi

Re: 401k 30% tax withheld? Can I reclaim back in UK

According to the link below 'A lump-sum distribution is the distribution or payment within a single tax year of a plan participant's entire balance from all of the employer's qualified plans of one...
Forum: Moving back or to the UK
Jun 8th 2020, 9:21 am
Replies: 4
Views: 1,434
Posted By Aoi

Re: Taxation Confusion When Returning to UK From USA

I am not able to advise you further other than to suggest trying taxact.com. It has step by step guidance and support. It might enable you to do your US tax.
Forum: Moving back or to the UK
Jun 5th 2020, 5:33 am
Replies: 4
Views: 1,434
Posted By Aoi

Re: Taxation Confusion When Returning to UK From USA

I used taxact.com for a Dual Status tax return.
https://www.taxact.com/support/22211/2019/dual-status-taxpayer

Here is a page from the HMRC Capital Gains Manual about split-year treatment:...
Forum: Moving back or to the UK
May 18th 2020, 8:02 pm
Replies: 16
Views: 4,355
Posted By Aoi

Re: Moving back to the UK after 10 years

If you have less than 40 credits you can apply for benefits based on the Totalization Agreement between the United States and United Kingdom. You qualify for U.S. Social Security benefits (not...
Forum: USA
Apr 9th 2020, 10:20 pm
Replies: 11
Views: 1,884
Posted By Aoi

Re: Moving to US next year- uk property question.

This was correct last week. From 6 April 2020, the exemption was reduced to 9 months....
Showing results 1 to 25 of 65
 
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