Go Back  British Expats > Search Forums
Reload this Page >

Search Results

 
Search: Posts Made By: Neillc37
Showing results 1 to 25 of 101
Search took 0.09 seconds.
Forum: USA
May 30th 2019, 12:26 am
Replies: 47
Views: 5,364
Posted By Neillc37

Re: Anyone in, near, or once passed through Seattle?

Maybe go to the Mandarin Buffet in Redmond. I think the pigs trotters are awesome there plus you can get totally stuffed.
Forum: USA
May 29th 2019, 9:50 pm
Replies: 8
Views: 955
Posted By Neillc37

Re: Drawing down UK pensions and tax residency form

That's not what a tax specialist form HMRC told me. They rang me back earlier much to my surprise and told me they only change currently active pension streams mentioned in the forms. You have to do...
Forum: USA
May 29th 2019, 8:21 pm
Replies: 47
Views: 5,364
Posted By Neillc37

Re: Anyone in, near, or once passed through Seattle?

I was actually thinking about the desire to eat British bacon or sausages. So strong is this desire in some that a butcher was delivering British style back to one of the Microsoft buildings at one...
Forum: USA
May 29th 2019, 6:01 pm
Replies: 47
Views: 5,364
Posted By Neillc37

Re: Anyone in, near, or once passed through Seattle?

British pantry is expensive. I very rarely go there. I found it was just much easier to switch to the American food. Go eat prime rib at the outback (just closed in Kirkland so you have to go will...
Forum: USA
May 29th 2019, 5:25 pm
Replies: 8
Views: 955
Posted By Neillc37

Re: Drawing down UK pensions and tax residency form

By saying I want to be rid of the accounts I am saying we will empty them. Our biggest UK pension has a pitiful 28k in it. I plan to run them all down in a couple of years.
Thanks for the...
Forum: USA
May 29th 2019, 3:30 pm
Replies: 8
Views: 955
Posted By Neillc37

Drawing down UK pensions and tax residency form

Toward the end of the year I will be 55 and can start drawing down my UK private pensions. I finally want to be rid of my UK accounts and their hassles with the IRS.
If anyone has done this did you...
Forum: USA
Apr 19th 2018, 6:07 pm
Replies: 0
Views: 324
Posted By Neillc37

UK Endowment Policy Matures and Withholding tax

Hi,
I asked about this some time ago:

http://britishexpats.com/forum/usa-57/uk-withholding-tax-endowment-policy-893890/

Some said there was no withholding tax.
This was a policy that had...
Forum: USA
Dec 9th 2017, 1:39 pm
Replies: 5
Views: 914
Posted By Neillc37

Lump-sum 25% tax free UK pension distributions

I have argued in the past that a US resident could take something other than 100% (in a year) of their UK pension and get the 25% tax free element extended to US taxation via the treaty and the fact...
Forum: USA
Nov 11th 2017, 12:48 pm
Replies: 3
Views: 564
Posted By Neillc37

UK tax residency rules

Hi,
I have lived in the US for over twenty years. I have no home in the UK. I have no income in the UK. I am a dual US/UK national.
My father is sick and I may have to spend some extended time in...
Forum: USA
Mar 16th 2017, 7:01 pm
Replies: 18
Views: 1,855
Posted By Neillc37

Re: UK withholding tax on an endowment policy

Let me tell you the background. I had hired a tax lawyer for another issue. He recommended a CPA for me to do the tax prep part of the issue. That CPA expected my wife's endowment mortgage to be...
Forum: USA
Mar 15th 2017, 10:02 pm
Replies: 18
Views: 1,855
Posted By Neillc37

Re: UK withholding tax on an endowment policy

I am hanging my hat on the annuity section. This hardly matters though. If I am liable for UK tax the US government will pay it through the FTC.
Once again I want to know if there is withholding tax...
Forum: USA
Mar 15th 2017, 6:31 pm
Replies: 18
Views: 1,855
Posted By Neillc37

Re: UK withholding tax on an endowment policy

You guys are talking about stuff I didn't ask. I have had the plan analyzed. We think, under advise from a professional that the plan qualifies as life insurance in the US. An IRS agent got to see...
Forum: USA
Mar 15th 2017, 3:49 am
Replies: 18
Views: 1,855
Posted By Neillc37

Re: UK withholding tax on an endowment policy

I have no reason to think any UK tax has been paid on the account. I would expect a UK life insurance policy to pay no tax until it makes a payment.
Forum: USA
Mar 14th 2017, 9:37 pm
Replies: 18
Views: 1,855
Posted By Neillc37

Re: UK withholding tax on an endowment policy

The policy is with Pheonix Life. I paid to have the policy analyzed by an expert. I have their written statement on it and the IRS accepted my position earlier.
The analysis is just the two tests in...
Forum: USA
Mar 14th 2017, 6:09 pm
Replies: 18
Views: 1,855
Posted By Neillc37

UK withholding tax on an endowment policy

Does anyone know if there is a withholding tax in the UK on an endowment? My wife has one of these that pays out next year. Payout looks to be about $17k. No other income in the UK as even her bank...
Forum: USA
Sep 2nd 2016, 5:13 pm
Replies: 33
Views: 6,291
Posted By Neillc37

Re: Uk Pension for Green Card Holder - Can I move to SIPP

It's more complicated than this. When I delt with the IRS on my pensions they wanted to know if they were work related. So if you could pay into a plan absent work they won't consider it protected....
Forum: USA
Sep 1st 2016, 3:15 pm
Replies: 33
Views: 6,291
Posted By Neillc37

Re: Uk Pension for Green Card Holder - Can I move to SIPP

Aren't you opening yourself up to a world of hurt by saying you have a trust anyway? For example is your SIPP going to file 3520-A with the IRS because they have a US person owner? The cure would...
Forum: USA
Sep 1st 2016, 2:23 am
Replies: 33
Views: 6,291
Posted By Neillc37

Re: Uk Pension for Green Card Holder - Can I move to SIPP

How do you get to the point of declaring the SIPP a foreign trust when the primary requirement is that there needs to be a fiduciary who protects and conserves the money? Since it's self directed...
Forum: USA
Aug 13th 2016, 10:49 pm
Replies: 13
Views: 1,229
Posted By Neillc37

Re: Some more questions on SS and WEP

If you read the tax code for 401k and IRA you end up in the land of annuities. The terminology is a little strange. They say the following:

Employees contributions - these are after tax...
Forum: USA
Aug 12th 2016, 1:22 pm
Replies: 87
Views: 7,482
Posted By Neillc37

Re: US Citizenship: pros and cons?

Nobody mentioned the all important 'unlimited marital deduction'. A non-citizen spouse faces estate taxes on what is inherited from a dead partner.
If you ever look at estate planning and have saved...
Forum: USA
Apr 21st 2016, 7:41 pm
Replies: 1,632
Views: 362,039
Posted By Neillc37

Re: UK state pension and USA social security

This is the same for everything related to government. Have extra income, even tax free muni income and it will increase how much of your SS is taxable. Other pensions can reduce your SS because of...
Forum: USA
Mar 10th 2016, 12:48 am
Replies: 18
Views: 2,597
Posted By Neillc37

Re: Reporting distributions in UK PFICs

To give you some info to work with. A PFIC is a passive foreign investment company. It's a foreign company that derives much of it's income from passive investments (stocks, bonds etc) or has...
Forum: USA
Mar 10th 2016, 12:38 am
Replies: 18
Views: 2,597
Posted By Neillc37

Re: Reporting distributions in UK PFICs

How long have you owned the funds? How long have you been a US person?
Forum: USA
Mar 10th 2016, 12:22 am
Replies: 18
Views: 2,597
Posted By Neillc37

Re: Reporting distributions in UK PFICs

If the funds are in a SIPP wouldn't that vehicle match the 'primarily used for retirement' that's in the tax treaty? Then you wouldn't have to report the funds as PFIC. There is even an exemption...
Forum: USA
Mar 9th 2016, 7:01 pm
Replies: 18
Views: 2,597
Posted By Neillc37

Re: Reporting distributions in UK PFICs

In order to avoid sec 1291 he would need to make this election when he first purchased the funds or when he became a US person. Retroactive elections are not allowed.
If for example he elected mark...
Showing results 1 to 25 of 101
 


 
Forum Jump

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.