Sunday Times articles- UK. taxation.

[floridapete]

The Sunday Times Money section has two front-page articles today regarding tax matters for overseas home owners. Whilst some of this is directed at owners of homes overseas who live (maybe retire) overseas much of the stuff also applies equally to people who own an overseas property as a vacation home or as Temporary Workers in the USA on E2 or simlar non-immigrant visas, since they are not Legal Permanent Residents of the USA.

In fact, it seems, that even if you live or work overseas, that does not divorce you from UK tax considerations regarding your family and any heirs back home.

I have often wondered how the UK tax authorities view the tax-status of UK citizens in the USA, say, on non-immigrant visas who, even after some years of living there, are still 'temporary' as far as the US system is concerned ? Therefore, their place of domicile is still regarded as being the UK by the US system and by the UK tax man.

See: http://business.timesonline.co.uk/article/0,,8214-2350417_1,00.html

also see:http://business.timesonline.co.uk/article/0,,8214-2350369,00.html

Anyone have any authoritive information on this ?

[Ron]

Thanks for sharing.


This is a subject we should all read and find as much information on as possible.

Taxation is just like immigration, does not make sense , confusing and blows your mind. Excellent subject to bring to our attention and we should all do our homework and share

[Susie]

Hello Peter

Thanks again for sharing such important information

One of our members wife is a well known CPA and will be offering to help to our committee.

I will bring this matter up with her and hopefully will be able to share knowledge

[floridapete]

Hello Peter

Thanks again for sharing such important information

One of our members wife is a well known CPA and will be offering to help to our committee.

I will bring this matter up with her and hopefully will be able to share knowledge

With due respect to whoever the CPA lady may be ..........this is a UK tax matter and, unless she is also a qualified UK tax accountant, up to date with all that's happening in latest UK tax law, it is unlikely that she will be able to advise you all on your UK liabilities in the event of inheritance, capital gains etc. being due.

So you really need to get a UK tax specialist to advise you properly on this matter.

I was happy to bring this matter to your attention - as I felt that it was of great importance and concern to people out there who may not even know that such UK tax liabilities may be lurking to catch the unwary !

I will continue to look out for items which I feel may be of interest to your group.

[Grumpy]

Hello Peter

Good and important post we should all read for our own benefit

You are right,

I think we could all benefit from someone who is a UK and USA qualified accountant

Does anyone know of one?

[Kitty]

Hi

Very interesting reading

Thanks for sharing

[dhandaulat33]

Hi, I'm looking to do a business management degree at university in about a year and a half's time, but I am unsure about which ones I should take a look at as so many units’ offer business courses. I'm a standard A-Level student (Predicted A's and B's), which rules out the elite, and I don't want to be more than a couple of hours from home (live in Leicestershire), which rules out Scotland, Wales and anything below London. Any recommendations will appreciate.

[tracifrost]

Hi Florida pete, nice to see you again !:)

[McSporran]

Hi Traci,

You're not seeing him again (thankfully ;) )...his article was posted in 2006!

[tracifrost]

oh my god!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!:rofl: :rofl: :rofl: :rofl: :rofl: :confused: :confused: :confused: :confused: :confused: :) :) :) :) :) :( :( :(
thats twice ive done this now!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:
what am i like:confused: :confused: :rofl: :rofl: :rofl:

[tracifrost]

He did seem like quite a nice chap though:confused:
id just joined the forum and he suddenly went

[McSporran]

id just joined the forum and he suddenly went

And thats why you thought he was a "nice chap" :D :D :D ;)

No - each to his own....but lets just say he wasnt my cup of tea!!!:D

[Susie]

Hi Florida pete, nice to see you again !:)

Hi

Not sure Peter is back as this is an older thread. I do need to speak with him as I have not done for so long