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Nov 13th 2020, 2:51 pm
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

Great! In my example above then that would mean those 5 years of Class 3 AVCs are also not WEPable?​​

Does the salary amount earned at a particular location (e.g. while in US vs UK) factor into...
Nov 13th 2020, 1:59 am
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

This is an unexpected bonus :-) What's concerning me now is wondering about what else I've overlooked!



So wife should start claiming “spousal benefit” at FRA and, all things being well, I can...
Nov 12th 2020, 1:25 am
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

Back two months later with an update and more questions…

HMRC have now confirmed I can make Class 2 catchup payments - so good news! At the very least I’ll continue making Class 3 payments in...
Sep 7th 2020, 5:43 pm
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

Re WEP: This will not affect me for 10+ years during which time I expect a lot will change. For now then, my WEP strategy will be to take lump sums, as much as possible, out of any private schemes...
Sep 6th 2020, 10:59 pm
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

Thank you, this is really helpful. I spent some time with SSA WEP calculator today and confirmed that estimated 50% deduction.

I'm assuming WEP only applies to social security pension(s) from...
Sep 6th 2020, 4:14 pm
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

I meet all the Class 2 qualification criteria and, in fact, I have that very form from Newcastle HMRC team in front of me now. So once I have responded with that form I should expect to see those...
Sep 6th 2020, 3:47 pm
Replies: 55
Views: 7,846
Posted By Fionn

Re: USA to UK transfer Social Security to NI contributions

I have 10+ years of US and 8 years of UK contributions. If I make two years UK catch-up Class 2 (only £3.05/week approx!) voluntary contributions can I then in future independently claim UK and US...
Forum: France
Aug 14th 2019, 1:44 am
Replies: 4
Views: 1,110
Posted By Fionn

Re: Tax write-off on previous UK rental losses after move to France (Europe)

Thank you for your input.

I too suspected this was a little too complex for a short post to an Expat forum. As result, I ended up posting also to the UK Money Saving Expert forum where I got a...
Aug 12th 2019, 2:15 pm
Replies: 3
Views: 1,070
Posted By Fionn

Re: regular use of transferwise

+1

Whenever possible I always send a small 'tracer' transaction first to make sure all the account details are correct.
Aug 12th 2019, 2:13 pm
Replies: 0
Views: 489
Posted By Fionn

Tax - Recouping on UK property rental losses after moving from US to Eur (France

Hi,

I originally posted this in 'Europe' but really think I need the HMRC expertise that's in this forum.

I have accumulated rental losses of ~15k GBP on my UK property whilst living in US over...
Forum: USA
Aug 12th 2019, 1:50 pm
Replies: 5
Views: 1,139
Posted By Fionn

Re: Rule of thumb for WEP Windfall calculation

Thanks. Just want to confirm I follow...
The maximum impact on US SS payment is a reduction of approx. $500 per month?
More specifically, the US SS reduction is never greater than 50% of the other...
Forum: USA
Aug 11th 2019, 10:32 pm
Replies: 5
Views: 1,139
Posted By Fionn

Rule of thumb for WEP Windfall calculation

Hi,

I think I remember comment previously that impact of WEP roughly translates to a $1 US social security reduction for every $2 dollars in 'other' pensions and that the reduction maxes out at...
Forum: France
Aug 11th 2019, 10:18 pm
Replies: 4
Views: 1,110
Posted By Fionn

Tax write-off on previous UK rental losses after move to France (Europe)

Hi,

I have accumulated rental losses of ~15k GBP on my UK property whilst living in US over last number of years. I have been filing returns both with HMRC and IRS over this time. I am now in a...
Forum: USA
Apr 21st 2017, 1:07 pm
Replies: 26
Views: 1,531
Posted By Fionn

Re: Car buying advice - new or used? (NY state)

Thanks All, plenty to think about there.
Forum: USA
Apr 19th 2017, 5:41 pm
Replies: 26
Views: 1,531
Posted By Fionn

Car buying advice - new or used? (NY state)

Hi,

I need to buy a car in near future. Will be purchasing somewhere in upstate NY if that makes a difference.

Financing is not a problem. I'll have good options from my bank that I can compare...
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