Maltoo

thanks Jeff.

fatbrit

Well he's supposed to file for a good few years even if he doesn't have citizenship when he returns to the UK because he has held residency for so many years.

Maltoo

I realize that but unlike me he will not have to file for the rest of his life unless of course he becomes a citizen before we move.

fatbrit

His ties to the US must be pretty strong if he's got a non-expiring GC.

The US tax burden is more a paperwork exercise than a substantial cost since a large sum is exempt, and then the US/UK tax treaty cuts in to save him if he goes beyond that.

It's not at all unusual for folks to return to the UK, then find it has changed too much over the intervening years, and home is actually back in the USA. It's a hassle if he needs to redo the immigrant visa. And you've also got a dual citizen child I presume, which is another strong reason for naturalizing.

Some useful thoughts here for ya: http://britishexpats.com/wiki/Pros_a...US_Citizenship

nun

That requirement has changed for US citizens and long term PRs. After expatriation there is no requirement to file on worldwide income, only on US source income as long as you are up to date with your taxes. If your net worth is greater than $2M you will have to mark-to-market everything over $600k and pay the tax.

nun

Choosing whether to take US citizenship is a serious and complex decision, but it will make your financial life a lot more complicated, probably mean you will be paying tax advisors and worrying about taxes for the rest of your life and essentially bar you from some foreign investments. But having it will also mean you can easily return to live in the USA and probably sleep a bit easier if you have US assets and SS.

fatbrit

Cheers for new info. Please change wiki entry if you think it is wrong.


Certainly is. I merely suggest informed consideration.