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Yank in UK thinking of moving back to US w/family

Yank in UK thinking of moving back to US w/family

Old Mar 6th 2013, 9:40 am
  #91  
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Default Re: Yank in UK thinking of moving back to US w/family

Originally Posted by lizzyq
That is only the maximum tuition fees for university. Hall of residence costs will be on top of that (£3.5k to £5.2k at Manchester depending on choice)

Lizzy
Well, yes. Just as living costs for the US will be on top of the tuition fees.
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Old Mar 6th 2013, 1:21 pm
  #92  
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Default Re: Yank in UK thinking of moving back to US w/family

Originally Posted by lizzyq
That is only the maximum tuition fees for university. Hall of residence costs will be on top of that (£3.5k to £5.2k at Manchester depending on choice)

Lizzy
That's still decent. You think the $25-60K a year in the US is all inclusive? Only in some places, but that's mostly just tuition too.

Still, got the whole of the EU where your UK student loans will cover you and you can go to top uni's in France, Netherlands, Germany, Belgium etc, etc for 2-3K a year and study in English :/
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Old Mar 6th 2013, 1:23 pm
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Default Re: Yank in UK thinking of moving back to US w/family

Originally Posted by Bob
That's still decent. You think the $25-60K a year in the US is all inclusive? Only in some places, but that's mostly just tuition too.

Still, got the whole of the EU where your UK student loans will cover you and you can go to top uni's in France, Netherlands, Germany, Belgium etc, etc for 2-3K a year and study in English :/
I was just adding in the info as it is always better to know as much about the costs as possible. I don't know how UK uni accommodation costs compare to those in the US, but they still have to be included in the overall budget.

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Old Mar 6th 2013, 1:50 pm
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Default Re: Yank in UK thinking of moving back to US w/family

I can't help you with the moving to CA part of the discussion, but a few things to consider:

I would ask some questions to your accountant, you seem to be paying a lot more tax than you need to.
If you have a ltd company, is your wife a shareholder too?
Do you realise that if you can show HMRC your earnings are not consistent, you won't have to pay 50% of your previous years tax bill on account?
If your accountant set up a PAYE scheme for your ltd company, you could potentially pay tax 'at source' and would not need to be paying all these large lump sums.

I haven't seen your books, so "your mileage may vary" as they say, but I would at least investigate these avenues.

Also just as a reference figure for you, in the SouthEast a junior web developer would be somewhere in the £30k area as a ballpark figure.
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Old Mar 6th 2013, 8:02 pm
  #95  
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Default Re: Yank in UK thinking of moving back to US w/family

Originally Posted by md95065
...Tax treaties between the UK and the US mean that you probably won't end up having to pay anything to the IRS but that does not mean that you don't have to file a return.
Thing is, the OP mentioned earnings close to the $100K mark, that's above the threshold, so he probably did have tax due in those years of earning that kind of money. It's what, something like $93K now? But it was a lot lower than that 6 years ago.

The IRS are good about back filing taxes when nothing is due. They might be a bit more worrisome if there was a tax payment due though, now with interest and potential fines on top.

It is something that needs squaring away.
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Old Mar 6th 2013, 8:38 pm
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Default Re: Yank in UK thinking of moving back to US w/family

Originally Posted by Bob
Thing is, the OP mentioned earnings close to the $100K mark, that's above the threshold, so he probably did have tax due in those years of earning that kind of money. It's what, something like $93K now? But it was a lot lower than that 6 years ago.

The IRS are good about back filing taxes when nothing is due. They might be a bit more worrisome if there was a tax payment due though, now with interest and potential fines on top.

It is something that needs squaring away.
and of course there's also the dreaded FBAR...
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