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questions about taxes

questions about taxes

Old Feb 14th 2007, 5:15 am
  #1  
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Default questions about taxes

Hi,

I have recently moved to California along with my wife. We are on L1/L2 visas. We have rented out our house in the UK.

I have questions about the taxes for temporary residents in the US. I know that tax returns need to be filed here and in the UK since we have rental income. Do the accountants in both countries need to collaborate with each other?

How have others done this, have you used a company which has offices in both countries like H&R block, or are they done independently?

Also I understand that we also need to submit a P85 form in the uk, is this correct?

Thanks in advance

rk164
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Old Feb 14th 2007, 12:37 pm
  #2  
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Default Re: questions about taxes

Originally Posted by rk164 View Post
Hi,

I have recently moved to California along with my wife. We are on L1/L2 visas. We have rented out our house in the UK.

I have questions about the taxes for temporary residents in the US. I know that tax returns need to be filed here and in the UK since we have rental income. Do the accountants in both countries need to collaborate with each other?

How have others done this, have you used a company which has offices in both countries like H&R block, or are they done independently?

Also I understand that we also need to submit a P85 form in the uk, is this correct?

Thanks in advance

rk164

Don't recommend H&R. Try finding an accountant who either works for one of the big 8 e.g Deloitte or I am sure in CA, there are international accountants. Check out the CPA website http://www.aicpa.org/default.aspx
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Old Feb 14th 2007, 3:34 pm
  #3  
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Default Re: questions about taxes

there have been plenty of threads with various answers if you do a search.

P-85 that's to let the inland rev know your non resident in the UK and to claim any taxes back...
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Old Feb 16th 2007, 2:01 am
  #4  
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Default Re: questions about taxes

Bob's right, P85 is the first thing you should do. I am certain that you won't need an accountant with international experience or anything like that. You could probably do just a good a job on your own with something like TurboTax Premium (is good for business and has a great section on foreign earnings)

Save the money, it's better in your pocket than anyone else's
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