Our Stepping Stones series usually focuses on the challenges faced by Americans moving to, or living in, the UK. However, in this chapter we instead focus on the British friends, family members, employees and acquaintances of Americans, who might be dealing with a move to the US. Here's what you need to know about tax, visas and wealth management, if you're a Brit moving to the US. Step one: Pre-immigration planning - visas, residency and current investments. Step two: Planning while in the...

When thinking about marriage or divorce, tax probably won't be one of the first things that spring to mind. But as a US citizen living in the UK, different life stages like these can come with added complexity. Here's what you need to know about marriage and divorce, from the US/UK tax, financial planning and legal experts. Step one: Pre-marriage planning – prenuptial agreements, US filing status and transfer taxes. Step two: Marriage – financial planning options, remittance basis, asset...

As a US citizen living in the UK, without any pre-arrival and up-to-date planning around your investments and pensions, you could be exposing yourself to a higher than necessary combined US/UK tax bill. Here's what you need to know about pensions and investments, from the US/UK experts. Step one: Reviewing the current situation - the remittance basis of taxation, creating a financial plan and investment solutions. Step two: Planning for retirement - long term objectives, cashflow planning,...

We all know the saying about death and taxes - both are unavoidable. But as an American in the UK, there's planning you can do throughout your lifetime to secure your financial future. In this episode our US/UK experts have shared the key tax and legal need-to-knows around estate and inheritance tax: - Step one: Planning now - current tax exposure, the US lifetime allowance, residence and domicile. - Step two: Estate planning for life - the Nil Rate Band (NRB), gifting, Potentially Exempt...

There’s no on-size-fits-all for setting up a business, especially for US citizens in the UK. The cross-border US/UK rules are as complicated as can be and you might find yourself the CEO of your own nasty tax bill. Subpart F, Check-The-Box, PFICS, GILTI – we’ve unjumbled the jargon with advice to build you up, not knock you down. Our experts discuss the tax and legal steps for US citizens setting up a UK business: - Step one: Choosing the right structure - check-the-box and S.962, personal...

Be it a penthouse in The City or a cottage in the countryside, as a US citizen buying property in the UK, you’re exposed to a whole roomful of potential tax complications. But with a bit of planning, you can save yourself a small shed-load of tax. This episode opens the door to the UK property market, with the need-to-knows for acquiring your next home. Our experts discuss the tax and legal steps for US citizens: - The UK property market - Step one: Becoming a homeowner – the legal process,...

Finding your way around a new place takes time, patience and (ideally) a helping hand. Sure, you can buy a map – but a clued-up local will definitely get you further. Think of this episode as your personal guide to the complex US/UK landscape, and get your ducks in a row so that when you cross the pond, a nasty tax bill doesn’t follow. Our experts discuss the key tax and legal steps for US citizens when planning a move to the UK, including: - Step one: Applying for a visa – choosing the right...