questions about taxes
Feb 14th 2007, 5:15 am
#1
Just Joined
Thread Starter
Joined: Mar 2006
Posts: 29
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
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
Feb 14th 2007, 12:37 pm
#2
time for a cuppa?
Joined: Feb 2007
Location: center of ohio
Posts: 349
Re: 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
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
Feb 14th 2007, 3:34 pm
#3
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
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...
P-85 that's to let the inland rev know your non resident in the UK and to claim any taxes back...
Feb 16th 2007, 2:01 am
#4
Pain in the Butt
Joined: Mar 2006
Location: Newark, DE
Posts: 286
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
Save the money, it's better in your pocket than anyone else's
