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Today, 9:19 am
Replies: 2
Views: 166
Posted By durham_lad

Re: Was anyone else apprehensive/conflicted about moving back?

We were a little apprehensive initially about leaving our 2 children behind in Texas and California but are so pleased now that we made the move back 4 years ago.
Today, 9:17 am
Replies: 3
Views: 119
Posted By durham_lad

Re: Filing USA and U.K. taxes

yes, you got the process right, we’ve been doing similar for the last few years. Before moving back I took my name off our joint accounts as my pensions are much higher than my wife’s, so wanted to...
Sep 17th 2020, 12:57 pm
Replies: 4
Views: 283
Posted By durham_lad

Re: New British bank account

There are other threads on this very issue this year so you may like to browse the forum for suggestions. A Transferwise borderless account will give a UK sort code and account number for you to use...
Sep 16th 2020, 12:28 pm
Replies: 6
Views: 329
Posted By durham_lad

Re: Topping up UK National Insurance before returning

It is very much an individual choice and individual circumstances. I thought my wife and I boxed clever with our contributions and once within the maximum of 30 years we made our move. We each paid...
Sep 15th 2020, 7:34 am
Replies: 6
Views: 329
Posted By durham_lad

Re: Topping up UK National Insurance before returning

Lots of threads on this and lots of folks have been doing this for many years.
Sep 14th 2020, 2:23 pm
Replies: 9
Views: 316
Posted By durham_lad

Re: WEP Guarantee

Thank you.

I use tax software to file each year and as the end of the year approaches I figure my taxes, then put in a theoretical sum for a conversion and see how much of it gets taxed. I then...
Sep 14th 2020, 7:49 am
Replies: 9
Views: 316
Posted By durham_lad

Re: WEP Guarantee

Congratulations on starting a Roth.

You usually cannot roll money out of a 403b while you are still working for the money that is providing the 403b but it is well worth asking.

There are zero...
Sep 13th 2020, 10:13 pm
Replies: 9
Views: 316
Posted By durham_lad

Re: WEP Guarantee

Here is a table from SSA that clearly shows the max WEP deduction against years of SS contributions and how it reduces to $0 with 30 years contributions.
...
Sep 13th 2020, 2:53 pm
Replies: 33
Views: 1,188
Posted By durham_lad

Re: USA to UK transfer Social Security to NI contributions

I’ll report back when she goes through this. If VCs are counted the same as years earned from work then WEP will definitely be a big hit.
Sep 13th 2020, 2:32 pm
Replies: 9
Views: 316
Posted By durham_lad

Re: WEP Guarantee

SSA website.

https://www.ssa.gov/benefits/retirement/planner/wep.html

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Sep 13th 2020, 10:33 am
Replies: 9
Views: 316
Posted By durham_lad

Re: WEP Guarantee

Yes, sort of, you are correct and I confess to not understanding exactly how it works. However WEP I believe only reduces SS by up 50% to the first bend point of the SS calculation, beyond that WEP...
Sep 13th 2020, 10:08 am
Replies: 33
Views: 1,188
Posted By durham_lad

Re: USA to UK transfer Social Security to NI contributions

If you are resident in the USA then what you say is exactly right. That is the normal state of affairs for all residents of the USA that receive SS, if your worldwide income is greater than $25k...
Sep 12th 2020, 7:42 am
Replies: 52
NHS
Views: 2,579
Posted By durham_lad

Re: NHS

We can always get a same day appointment if we call between 8 and 8:30am. A couple of years ago my son hurt his wrist so I drove him 4 miles to our nearest walk-in centre where he was seen within 15...
Sep 11th 2020, 4:06 pm
Replies: 52
NHS
Views: 2,579
Posted By durham_lad

Re: NHS

Being dual US/UK citizens my wife and I have to file taxes in the both the US and UK which means I get to see the exact amount of US tax we have to pay before the foreign tax credits are applied. I...
Forum: USA
Sep 11th 2020, 3:49 pm
Replies: 16
Views: 675
Posted By durham_lad

Re: yet another pension question! - unusual UK pension situation

Definitely above my pay grade, I would be contacting a dual US/UK qualified tax preparer as suggested above. In reading mrken's article link I see that the OAP is only taxable in the UK which is...
Forum: USA
Sep 11th 2020, 3:22 pm
Replies: 7
Views: 520
Posted By durham_lad

Re: UK Self assessment/tax software

Doing it online yourself is probably very doable. I help my wife's sister do her taxes online each year. She had never had to do self assessments until after her husband died. Her FA told her she...
Forum: USA
Sep 11th 2020, 3:06 pm
Replies: 11
Views: 542
Posted By durham_lad

Re: US Tax Advisors - Recommendations Wanted

If you are a retiree then you won’t have any earned income so won’t be paying FICA or Medicare tax which is only deducted from earnings, not pensions. Generally speaking if it is reported on a W2...
Sep 10th 2020, 9:03 pm
Replies: 14
Views: 594
Posted By durham_lad

Re: Moving back to the UK after living abroad over 5 years

That was irrelevant in this case as she said she was not born in the UK but was born to UK parents and she was in possession of a valid British passport. Her birth certificate would not have helped.
Sep 10th 2020, 8:41 pm
Replies: 14
Views: 594
Posted By durham_lad

Re: Moving back to the UK after living abroad over 5 years

I went and watched that section of the program and the problem Elizabeth was having is that she was returning with nowhere to go to, no family to stay with, and asking to be housed and looked after....
Sep 10th 2020, 11:04 am
Replies: 14
Views: 594
Posted By durham_lad

Re: Moving back to the UK after living abroad over 5 years

+1

My wife and I returned after 29 years away, just showed passport on entry, no questions asked. We had other things to do such as register with the NHS since the system including NHS numbers had...
Forum: USA
Sep 9th 2020, 2:54 pm
Replies: 11
Views: 542
Posted By durham_lad

Re: US Tax Advisors - Recommendations Wanted

The only thing I would add is that to stop PAYE from being taken from my UK pensions I filed IRS form 8802 from within the USA. This has the IRS certify that you have been a tax paying US resident,...
Sep 7th 2020, 8:05 pm
Replies: 33
Views: 1,188
Posted By durham_lad

Re: USA to UK transfer Social Security to NI contributions

A Roth is not included at all in the WEP calculation.

It depends on the State pension. Many State jobs paid into SS and many did not. Have a look at one of your W2s and if there is no FICA paid...
Sep 7th 2020, 6:05 pm
Replies: 33
Views: 1,188
Posted By durham_lad

Re: USA to UK transfer Social Security to NI contributions

with some countries such as Canada, NZ and Australia then once you start drawing OAP it is frozen. Most other countries, including the USA and EU countries, it goes up each year as it does in the UK....
Sep 7th 2020, 3:35 pm
Replies: 33
Views: 1,188
Posted By durham_lad

Re: USA to UK transfer Social Security to NI contributions

I had direct debits set up and paying NI contributions from my U.K. bank several years before we moved back to England.

When I say I have 2 UK company pensions, they are each lifetime monthly...
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