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Search: Posts Made By: TerryGoX
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Forum: USA
Mar 25th 2024, 9:47 pm
Replies: 7
Views: 439
Posted By TerryGoX

UK State Pension Statement

I'm currently receiving my UK State Pension and would like to obtain an official statement of my payments that I can present to a bank. The deposits appear in my UK bank account, but I need a formal...
Forum: USA
Feb 8th 2024, 1:03 pm
Replies: 11
Views: 679
Posted By TerryGoX

Re: Interest on Wise Account and FDIC Insurance

But the question is on dollar accounts with Wise. The account has a US bank account number, the bank lists a New York address and they issue 1098INT so to me that looks exactly like a US bank...
Forum: USA
Feb 8th 2024, 1:13 am
Replies: 11
Views: 679
Posted By TerryGoX

Re: Interest on Wise Account and FDIC Insurance

I was wondering the same question and have decided not to include on FBAR - as the interest in dollar accounts is better, I transfer to dollars and thus my sterling balance falls below the $10000...
Forum: USA
Jan 31st 2024, 3:18 pm
Replies: 72
Views: 6,877
Posted By TerryGoX

Re: UK State Pension and US tax return

Patzy

I'll be interested in whatever response you get and I will be consulting with my own local accountant but suspect they will have no idea. I've looked at other threads on the topic

Here...
Forum: USA
Jan 26th 2024, 5:58 pm
Replies: 72
Views: 6,877
Posted By TerryGoX

Re: UK State Pension and US tax return

I have just started to collect pension from UK and am classed as non-resident in the UK so they do not deduct tax - I am declaring all the income on US tax forms as required and will pay tax on it...
Forum: USA
Sep 20th 2023, 4:11 pm
Replies: 13
Views: 1,393
Posted By TerryGoX

Re: HMRC form 2002

That's very helpful DurhamLad - I did speak to HMRC who also suggested (without a great deal of conviction I might add) the service center address would be that for the IRS and not the HMRC. I did as...
Forum: USA
Sep 20th 2023, 4:07 pm
Replies: 24
Views: 2,368
Posted By TerryGoX

Re: AJBELL New terms and Conditions

I asked for clarification from AJBell and they sent this via email

I can confirm that this new rule is only for new business and does not affect ongoing accounts or transfers in.
Forum: USA
Sep 19th 2023, 4:53 pm
Replies: 24
Views: 2,368
Posted By TerryGoX

Re: AJBELL New terms and Conditions

That extra sentence about NEW accounts is not in the formal terms and conditions - it is ONLY in the email. I spoke to someone in AJBELL and they are having meetings about what they plan to do moving...
Forum: USA
Sep 19th 2023, 3:22 pm
Replies: 24
Views: 2,368
Posted By TerryGoX

AJBELL New terms and Conditions

I just received a set of new terms and conditions from AJBELL

This has been updated to include the condition

24.1 The account holder for a SIPP must be a UK resident for tax purposes at all...
Forum: USA
Sep 18th 2023, 2:32 pm
Replies: 13
Views: 1,393
Posted By TerryGoX

HMRC form 2002

I have to complete the HRMC 2002 form to gain a NT tax status and I have a few questions I hope someone has already worked out:

The Service Center address where your last tax return was filed
I...
Forum: USA
Aug 31st 2023, 12:20 pm
Replies: 45
Views: 6,554
Posted By TerryGoX

Re: UK Pension taxation for US Resident

On the issue of tax, my tax code is 1275L so I have 12750 pounds tax free - if I make a withdrawal, how does AJBell determine if tax should be withheld? If I take 2000 pounds, do they attempt to see...
Forum: USA
Aug 28th 2023, 9:24 pm
Replies: 6
Views: 1,206
Posted By TerryGoX

Re: UK SIPP - US Resident

thank you - AJBELL don't like using Wise as a bank but I dont have a UK bank anymore. Also. all investments are in pounds so there is that currency risk. I presume you have to live with those things
Forum: USA
Aug 25th 2023, 2:12 pm
Replies: 6
Views: 1,206
Posted By TerryGoX

UK SIPP - US Resident

I have a UK SIPP but resident/citizen in US. I cant speak to my provider as they will not deal with US resident so I need to move. I did move a smaller SIPP to AJBELL and now need to move a larger...
Forum: USA
Jun 28th 2023, 2:42 pm
Replies: 45
Views: 6,554
Posted By TerryGoX

Re: UK Pension taxation for US Resident

so, when I contact the HMRC, is this a central office or do I need a tax office that handles my individual case and if so how do I find that. I have a P85 from the IRS that states I am US resident, I...
Forum: USA
Jun 28th 2023, 2:26 pm
Replies: 45
Views: 6,554
Posted By TerryGoX

Re: UK Pension taxation for US Resident

That's very helpful, this is the question I have asked AJBell for 3 months now without a clear answer. They keep telling me to take it tax free as part of the 25% but that doesn't solve my long term...
Forum: USA
Jun 28th 2023, 2:11 pm
Replies: 45
Views: 6,554
Posted By TerryGoX

Re: UK Pension taxation for US Resident

That's correct which is why I want to use a small amount so I can start the process to get a NT status for future withdrawals.
Forum: USA
Jun 28th 2023, 1:58 pm
Replies: 45
Views: 6,554
Posted By TerryGoX

Re: UK Pension taxation for US Resident

I don't have a UK tax code and haven't since 1990 so I want to start the process of getting NT - taking a tax free amount does nt start the process and I am dealing with customer service to help me...
Forum: USA
Jun 28th 2023, 1:04 pm
Replies: 45
Views: 6,554
Posted By TerryGoX

Re: UK Pension taxation for US Resident

I am in a similar position. I plan to pull a small amount from a SIPP (1000 sterling) that should trigger a UK tax payment from which I can apply for the NT status. I have money in AJBell and they...
Forum: USA
Apr 26th 2023, 9:22 pm
Replies: 34
Views: 5,518
Posted By TerryGoX

Re: Being taxed on UK State pension

I requested a P85 from the IRS about 2 years ago - it s costs about $85. I applied and received my UK state pension but they immediately gave me a NT status. This seemed very easy and partly due to...
Forum: USA
Jun 4th 2022, 1:20 pm
Replies: 41
Views: 4,904
Posted By TerryGoX

Re: US/UK dual taxation treaty and pension income

What then is the use of paying $85 to get the 6166 form? The address in the P85 notes is the same as the one I sent my 6166 application to. I just started getting my UK state pension and they are not...
Forum: USA
Jun 3rd 2022, 6:43 pm
Replies: 41
Views: 4,904
Posted By TerryGoX

Re: US/UK dual taxation treaty and pension income

I am following with great interest - I have my copy of the IRS 6166 - which is rather curt and to the point - but on the P85 is asks for a stamp from the IRS as mentioned by Rowen123 - I cant imagine...
Forum: USA
Apr 12th 2022, 6:47 pm
Replies: 19
Views: 3,673
Posted By TerryGoX

Re: UK /US Tax Treaty and UK Government Pension

I've looked at that forum in the past and it is mostly/all about WEP and whether you can claim UK state pension and Social Security. As for taxes I have been told that UK state pension is regarded as...
Forum: USA
Apr 12th 2022, 6:33 pm
Replies: 5
Views: 1,121
Posted By TerryGoX

Re: Exchange rate and State pension

I have just started to receive my UK pension - I have 1 month paid so far and elected the monthly plan but I am paying into a UK account (Wise) as I have funds in a private pension also in the UK. I...
Forum: USA
Mar 3rd 2022, 6:32 pm
Replies: 34
Views: 5,518
Posted By TerryGoX

Re: Being taxed on UK State pension

Well, I'll keep you updated - as I said I have completed the IRS residency form and plan to send that and the HMRC form when it comes to pull funds from investments - I'll get some information next...
Forum: USA
Mar 3rd 2022, 6:18 pm
Replies: 34
Views: 5,518
Posted By TerryGoX

Re: Being taxed on UK State pension

Did you have a UK address? They checked my last known UK address which was 25 years ago which might be a factor
Showing results 1 to 25 of 36
 


 
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