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Search: Posts Made By: durham_lad
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Forum: USA
Jul 4th 2019, 8:36 am
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

Yes, you can receive both and you can have the US SS paid directly into your UK bank account.
Forum: USA
Feb 21st 2019, 10:31 am
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

don’t ask, don’t tell :)

when end you look up your record you may find you have been credited for years in full time education or part time work you forgot about. I was amazed to find 2 full years...
Forum: USA
Feb 20th 2019, 1:36 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

That is also my understanding

https://www.gov.uk/new-state-pension/how-its-calculated
Forum: USA
Jan 24th 2019, 2:25 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

That is the cost of Class 3 NI contributions for the tax year 2018/19 (52*£14.65)

https://www.gov.uk/voluntary-national-insurance-contributions/rates
Forum: USA
Jul 10th 2018, 6:05 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

My wife and I registered online with HMRC a few years ago to see our NI record and pension estimate.

https://www.gov.uk/government/organisations/hm-revenue-customs

you probably need to create a...
Forum: USA
Apr 20th 2018, 7:06 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

I used to use HiFx and was very happy with them and the rates I got but a few years ago I got an email from them apologizing that they had made a business decision to terminate all accounts for US...
Forum: USA
Mar 18th 2018, 2:06 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

Great information, thanks, particularly since I was born in 1955 so your example is very pertinent to me. I have 23 years of significant earnings, and with a couple of UK private pensions I expected...
Forum: USA
Jan 8th 2018, 5:39 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

There are also deductibles and coinsurance payments to pay when you have treatment under Medicare Part A. Add on the cost of flights and accommodation and it becomes fairly expensive. If you are...
Forum: USA
Jan 7th 2018, 4:04 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

If you don’t take up Medicare you don’t get assessed a penalty but if you later decide to sign up then it is more expensive. This is to penalize folks who don’t have Medicare because they are healthy...
Forum: USA
Jan 1st 2018, 7:26 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

From discussions I have seen you can calculate the OAP sum you get from work as opposed to voluntary contributions. e.g. OAP received is £150/week based on 30 years of contributions of which 15 years...
Forum: USA
Jan 1st 2018, 6:44 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

It can also be challenging (sorry, couldn’t resist).

You are right of course but HMRC have made it simpler from 2017 on, they used to only tax 90% of foreign pensions but now they tax it all.
...
Forum: USA
Jan 1st 2018, 2:12 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

We are US/UK citizens living in the UK and the US Social Security is not taxed in the USA but is taxed in the UK. On the 1040 in the US return it is reported but is not taxed, in the UK it is...
Forum: USA
Jan 1st 2018, 7:44 am
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

The W9 is for US Citizens resident abroad. Our bank in the UK also had us complete a W9 since they are FATCA compliant reporting on their US citizen customers. The W9 gives the business permission to...
Forum: USA
Dec 31st 2017, 9:23 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

I am in a similar position, dual UK/US citizen living in UK. My IRA is with Vanguard and Vanguard had me complete and send in a W9 so that they do not automatically withhold US taxes when I make...
Forum: USA
Feb 27th 2017, 2:24 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

Thanks for the update findthespot, I'm pleased to hear that it is all working out well for you. I agree with you that the chances of getting a call back to your UK number are very slim. I expect...
Forum: USA
Jan 27th 2016, 1:48 am
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

Exactly :lol:

We are just starting our 7th year of retirement, after retiring at age 55, and it certainly beats the bejeebers out of working.
Forum: USA
Jan 26th 2016, 9:03 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

It's not surprising that nun and the OAP are correct about where to enter a foreign private pension.

I had a look in the TurboTax support forum and found the following that confirms that a ...
Forum: USA
Jan 26th 2016, 8:00 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

Another reason to not bother and simply report it on line 21 :)
Forum: USA
Jan 26th 2016, 6:45 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

So does he invent a PAYERS Federal ID number? What code does he put in for box 7?

Nun, do the IRS instructions give some guidance on how to enter the numbers on line 16a and b? Using Turbotax it...
Forum: USA
Jan 26th 2016, 4:04 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

The 1099-R is a US tax form and UK institutions don't produce them, regardless of whether or not tax is withheld.

As others have said you need to report it on your US tax return as income.

I...
Forum: USA
Jan 23rd 2016, 7:23 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

You are welcome. My SS will be WEP'ed when I take it but by wife will be able to claim spousal SS at 50% of my WEP'ed amount, assuming the rules are the same in 7 years time.
Forum: USA
Jan 23rd 2016, 6:55 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

The WEP applies to the person who earned the US SS so I do not believe your friend will not be subject to her spousal SS being reduced by WEP. See Lansbury's post just above where his spousal SS is...
Forum: USA
Oct 20th 2015, 7:12 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

Good luck, keep us updated.
Forum: USA
Oct 18th 2015, 4:05 am
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

I would think so as that is how it normally works for annuities in the USA, and that is how it also works for IRA withdrawals. Both are reported on a 1099-R which shows the total amount paid in the...
Forum: USA
Oct 9th 2015, 4:34 pm
Replies: 1,632
Views: 357,745
Posted By durham_lad

Re: UK state pension and USA social security

"Spin" indeed will be needed to increase the burden on SS at this time.

I don't see it being possible to apply to Expats. I'm receiving one UK private pension now and will begin receiving a 2nd...
Showing results 1 to 25 of 74
 


 
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