OUR SERVICES
We offer tax services to a variety of individuals, such as employees, CEOs, retirees, private equity managers and everyone in between.
Most of our clients are UK based and a majority of those have a US tax consideration either by being a US tax resident via citizenship or greencard or splitting their time between the UK and US.
Health Check
It is important to check in on your tax circumstances via a health check from time to time.
This is particularly important for a new client or a client who has a change in circumstances.
This entails a full review of your current tax position with the aim of identifying tax issues and advising on improvements to make to either simplify or add efficiencies to your tax world.
This typically includes, but not limited to:
- Foreign Tax Credit utilisation
- Inefficient UK/US investment portfolio and how to optimise for tax purposes
- Passive Foreign Investment Companies (PFICs)
- Non Reporting Funds
- FIG Considerations
UK/US Reporting
We specialise in providing annual compliance from both a UK and US tax perspective.
We ensure that your global tax position (between the UK and the US) is optimised given the team assist with both filings. Being au fait with both sides of the Atlantic allows for a seamless experience between the two, allowing our clients to understand their position annually.
We also look to catch up with clients on an annual basis, so that we are in step with them going forward, rather than be reactive with our tax filing.
Reporting will include:
- Annual US Tax Returns including state tax return filing considerations
- Foreign bank Account reporting (FBAR) via the FATCA regime
- Annual UK tax compliance via self assessment
- Impact of FIG regime
- Tax guidance on an effective UK/US portfolio investments
- Carried interest and co-invest tax considerations to private equity individuals
Mobile Individuals
Movement to the UK, or to the US is always attractive for individuals.
We look to provide support ahead of any movement to ensure that our clients are fully aware of their tax obligations further to their new home and optimise their tax position where possible.
This will typically involve:
- Simplification and understanding of the host country tax environment
- Advantageous strategies to implement, avoiding tax pit falls
One off events
Some circumstances are unforeseen or can be planned, we look to help our clients with both.
By having a clear understanding of UK and/or US tax implications ahead of ‘one off’ life event (or indeed any event ) we give our clients the confidence and clarity to pursue their aims removing tax to the back of the consideration.
Examples of typical events:
- Lump sum pension withdrawal
- Investment into the UK or US as a non resident
- Sale of UK or US real estate, particularly if a non resident of either country.
- Expatriation from the US, the most significant decision a US citizen or greencard holder will make we look to ensure our client is fully aware of relevant impacts.
- Invitation to a restricted stock plan by your employer and implications in the event of having moved to either the UK or US.
Delinquent filings
If you are behind in either your UK or US tax filings, we can support on how to get your back on track.
Typically we find individuals were unaware of their US filing obligations as their citizenship was acquired through birth or parentage (otherwise known as “Accidental Americans”) or they have held onto a expired green card and not formally rescinded it or were simply unaware of the requirement of US person to file US returns even when living outside of the US. We are well versed in supporting our clients in this regard to help them get on track with current IRS approved programs, such as either the streamlined domestic or foreign procedures with the IRS.
We also support with any reporting via the worldwide disclosure facility with HMRC, getting clients on track and up to date with HMRC and remaining compliant in their filing going forward.
Clients of the firm are supported with HMRC and IRS correspondence, we provide client guidance on what they require and look to represent our clients where possible.