This document provides information and advice for Americans living in the United Kingdom regarding wealth management and financial planning tailored to their needs and tax situation. It outlines key phases and milestones Americans may experience during their time in the UK, from initially preparing to move to settling in permanently. It emphasizes the importance of understanding both UK and US tax rules as assets and income can be liable to taxes in both countries. Effective planning is recommended to help live the life you want without unexpected taxes disrupting financial plans. Contact information is provided for those seeking a printed guide or advice.
Mwita Ayubu anauliza na kueleza
“ KWA NINI NCHI ZA ASIA MASHARIKI AU ASIA MASHARIKI YA MBALI ZIMETUPITA KI-MAENDELEO”,
Twaweza pia kujifunza jambo kwa kuuliza swali hilo kwa nini tu maskini? Kutoka PP presentation hii niliyotumiwa na rafiki yetu mmoja.
Mwita Ayubu anauliza na kueleza
“ KWA NINI NCHI ZA ASIA MASHARIKI AU ASIA MASHARIKI YA MBALI ZIMETUPITA KI-MAENDELEO”,
Twaweza pia kujifunza jambo kwa kuuliza swali hilo kwa nini tu maskini? Kutoka PP presentation hii niliyotumiwa na rafiki yetu mmoja.
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4. Prepare for greater complexity.
Become a bookkeeping black belt for two masters.
5. Nothing is simple.
Assets that cross the pond are potentially liable to taxes.
» Small things can trip you up, like that U.S. credit card.
» Marry a Brit, if you must. Careful about co-mingling funds.
6. Prepare for culture shock.
It’s more than ‘football’ vs. ‘soccer’ – from slang to celebrities to food.
» Ordinance maps are great for ardent hikers.
» Lester maps will take you off the beaten path.
Maybe use a Boris Bike to get there.
7. Settling In
“If it not be now, yet it will come–the readiness is all.”
– Hamlet
8. Knock, Knock! It’s HMRC!
It could be Year 7. Or Year 8.
» File US & UK taxes simultaneously.
» Prepare your US portfolio accordingly.
9. Time to learn the lingo.
» PFICs, ISAs, and SIPPs – the basic menu for savers in the UK.
» Add Foreign Tax Credits to your lexicon.
10. Kids and your health.
» UK dentists aren’t all that bad. Really.
» UK vs. American style schools.
19. Burleigh House | 357 Strand | London WC2R 0HS
+44 (0) 207 043 0455 | enquiries@masecopw.com
MASECO LLP trading as MASECO Private Wealth is authorized and regulated by the Financial Conduct Authority in the UK and is a Securities
and Exchange Commission Registered Investment Adviser in the USA. The Financial Conduct Authority does not regulate tax advice.