US Taxes for Americans in UK: Understanding Your Tax Filing Responsibilities

Though moving to the UK can give an extraordinary new start for any American citizen, it does not mean that US tax duties come to an end. It may be confusing for Americans to file their taxes from abroad because although Americans do have to report their worldwide income to the IRS-even when working and paying taxes in the UK- the two countries may have different ways of handling tax rules.

Understanding US taxes for Americans in UK

For Americans in the UK, US Taxes for Americans in UK can involve much more than simply reporting a salary. Any income obtained through self-employment, savings, and investments must also be reported. Green Card holders have similar obligations regarding their filing.

The good news is that paying taxes in the UK doesn't automatically mean you'll have to pay taxes again in the US. There may be options available for tax relief, including the Foreign Earned Income Exclusion and the Foreign Tax Credit which could decrease double taxation. However, both rules must be followed and taxes and income claimed accurately.

US Taxes for Americans in UK

Some taxpayers may also have to report overseas bank accounts and assets. If any of these form-filling duties are missed, the IRS could take action regardless of whether tax is owed or not.

Get Expert Help With Your US Tax Returns

When you need to prepare US tax returns from the UK it is essential that you know a little about both tax systems. US Global Tax is the specific firm that can help with this situation. Located in London, this agency provides US tax and UK tax services to the Americans who live abroad.

Their staff consists of Enrolled Agents who are authorized to represent the taxpayers in front of the IRS and therefore they know exactly what to do to help you. They will be guiding you personally based on the income level which you have and the tax you are being dealt with.

Make Your Tax Filing Less Stressful

You don’t have to face the stressful process of filling out tax forms all by yourself. Seeking advice from a tax professional will help you identify the information that should be included in your tax return, get familiar with tax reliefs available to you, and take appropriate actions before filing your tax return.

US Global Tax provides affordable, personalized tax services for US Taxes for Americans in UK and US citizens living worldwide. Get in touch with the US Global Tax team today to schedule a complimentary consultation.