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Search: Posts Made By: jbrown
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Sep 19th 2012, 9:39 pm
Replies: 267
Views: 16,310
Posted By jbrown

Re: Inflation has dropped in the UK to just 2.6%

Inflation has been much stickier than anyone expected and I wouldn't bet on it continuing downwards. For example, there's going to be upwards pressure on food in the coming months following the...
Sep 2nd 2012, 10:15 pm
Replies: 37
Views: 3,902
Posted By jbrown

Re: Will I need to pay tax?

The so-called 91-day rule (91 days per year averaged over 4 years), but it's just a guide. In any case, a major shake-up will likely happen next April:
...
Jun 25th 2012, 10:28 am
Replies: 10
Views: 6,937
Posted By jbrown

Re: 1040c Sailing/Departure permit

My accountant essentially said the same thing. I didn't file and I haven't had any issues to date. You can't file retrospectively, because it's a departure permit. Technically, you could have issues...
Jun 24th 2012, 4:37 pm
Replies: 10
Views: 6,937
Posted By jbrown

Re: 1040c Sailing/Departure permit

The advice I received from my accountant (confirmed by another) was that, while this is a requirement in theory, it isn't necessary in practice. If you forget to file, there is no need to file...
Apr 25th 2012, 9:46 pm
Replies: 20
Views: 2,705
Posted By jbrown

Re: No double dip recession.

Yes, and many of the things that are being cut now will cost a lot of money to reintroduce later. If borrowing doesn't stick to plan and growth remains weak, the UK could lose its AAA pretty quickly...
Mar 17th 2012, 12:21 pm
Replies: 14
Views: 1,765
Posted By jbrown

Re: How do you know...........

That's it, simply. You can rationalize about what you have overseas versus in the UK - and no doubt, on paper, it might not make sense to not return - but, ultimately, England is "home." For me also.
Forum: USA
Mar 13th 2012, 4:40 pm
Replies: 26
Views: 5,252
Posted By jbrown

Re: Tax return FBAR question

I think you may have missed my point. I don't disagree with you. Some of the responses to this thread left me wondering whether people thought that a transfer of $10k+ (or any other amount) was a...
Forum: USA
Mar 13th 2012, 3:21 am
Replies: 26
Views: 5,252
Posted By jbrown

Re: Tax return FBAR question

In case it isn't obvious to some people, it's perfectly fine to make legitimate transfers of any amount (and by legitimate, I mean transfers on which the appropriate taxes have been or will be paid)....
Mar 3rd 2012, 9:24 pm
Replies: 4
Views: 1,440
Posted By jbrown

Re: UK/US taxes

If you're talking about earned income from employment (as opposed to investments etc.), you can probably take the Foreign Earned Income Exclusion (somewhere north of $90k):
...
Mar 3rd 2012, 3:27 am
Replies: 50
Views: 24,080
Posted By jbrown

Re: Getting a mortgage in the UK after being non-resident

The rule of thumb it 2-3 years of accounts for a direct application, but a sizable deposit can offset a shorter period of records. If you go through a specialist contractor mortgage broker, the...
Feb 29th 2012, 12:37 am
Replies: 18
Views: 7,640
Posted By jbrown

Re: Tax implications for moving money back

While the risk exists, I think it's one of those risks that needs to be placed in perspective. Ultimately, the ~2%+ saving over a bank rate is easily worth the unquantifiable, but very small, risk,...
Feb 28th 2012, 4:08 pm
Replies: 16
Views: 2,081
Posted By jbrown

Re: Kids Passports expired, travelling in just over 24 hours! Help

Yes, and the difficulty is that it could also lead to questions about how they left the US on expired passports.
Feb 28th 2012, 3:47 pm
Replies: 16
Views: 2,081
Posted By jbrown

Re: Kids Passports expired, travelling in just over 24 hours! Help

My thoughts too. I would use the UK passports to leave (even though strictly not allowed), but return on valid US documents, whether that means an emergency document or renewed passports via the...
Feb 28th 2012, 5:05 am
Replies: 16
Views: 2,081
Posted By jbrown

Re: Kids Passports expired, travelling in just over 24 hours! Help

It is illegal and, therefore, obviously a bad idea. A steep fine at minimum. You should be able to get an emergency travel document either here (24hrs might be pushing it though) or at the U.S....
Feb 27th 2012, 12:11 pm
Replies: 8
Views: 3,072
Posted By jbrown

Re: Emerging info; HMRC and ISA'a for USC's in UK

Indeed, that occurred to me as soon as I'd posted, but I thought I'd leave it there in case :D

Stocks and shares ISAs are definitely less attractive in the context of a US tax return.
Feb 25th 2012, 2:57 am
Replies: 8
Views: 3,072
Posted By jbrown

Re: Emerging info; HMRC and ISA'a for USC's in UK

This is probably related to FACTA. The US is increasingly requiring foreign banks to enter into disclosure agreements. Who advised you that no US tax was due? Income from UK ISAs and SIPPs are...
Feb 17th 2012, 12:15 am
Replies: 10
Views: 1,661
Posted By jbrown

Re: returning from non-EU country

You should check if there's a totalization agreement with the UK. For example, US SS contributions can be counted towards UK contributions:
...
Feb 13th 2012, 1:39 pm
Replies: 20
Views: 2,705
Posted By jbrown

Re: No double dip recession.

Avoiding technical recession isn't much to celebrate, really. There are mixed economic signals coming out of the UK, but at least they've been more positive recently. Let's hope the austerity...
Jan 31st 2012, 1:38 am
Replies: 6
Views: 1,422
Posted By jbrown

Re: Opening an ISA

I dare say you could open one if you had an address to use, from a purely mechanical point of view. Certainly, there's no requirement to close an ISA when you stop becoming UK resident for tax...
Jan 31st 2012, 12:45 am
Replies: 6
Views: 1,422
Posted By jbrown

Re: Opening an ISA

I'd forget about this if you're a U.S. resident for tax purposes. In that case, you're taxable on your worldwide income, and ISAs are not tax-free under IRS rules. One of the many differences in the...
Forum: USA
Jan 29th 2012, 3:58 am
Replies: 22
Views: 2,981
Posted By jbrown

Re: Question regarding FATCA (8938) for US citizens with foreign bank

FWIW, it applies to anyone resident for tax purposes that meets the FACTA requirements (e.g. in the year of departure from the US), not just US citizens and LPRs.
Forum: USA
Jan 29th 2012, 12:45 am
Replies: 22
Views: 2,981
Posted By jbrown

Re: Question regarding FATCA (8938) for US citizens with foreign bank

Your description is a little unclear TBH, and you'd do well to get professional advice.

However, my understanding is that the FACTA provision applies to tax years after 2010 which means the...
Jan 24th 2012, 11:11 pm
Replies: 33
Views: 4,081
Posted By jbrown

Re: Bank Account in the UK

I can give you an example. I'll be working in the UK for my own Ltd company from April this year, invoicing a US company (in USD). I'll be resident in the UK on arrival. Due to the offset in the US...
Jan 24th 2012, 3:22 am
Replies: 3
Views: 528
Posted By jbrown

Re: Capital Gains Tax

As I said, I'm not 100% sure of the UK rules but, since it was your primary residence, I don't think you'll be exposed to CGT in the UK if the house is sold while you're resident in the UK (or...
Showing results 1 to 25 of 70
 


 
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