Many Americans who live in the UK know that managing finances in two countries is not always straightforward. From filing taxes on both sides of the Atlantic to estate planning and everything in between – it can be a complex process.
In London & Capital’s podcast for international Americans, Robert Paul, Partner in the US Family Office, and his panel of experts discuss the major issues that US expats need to navigate when living in the UK.
Subscribe now to our Podcast series ‘A United Approach’ for unprecedented insights into how you can navigate the complexities faced by US expats in the UK.
SERIES 1 EPISODE 1 | MOVING TO THE UK
Robert Paul, Partner in the US Family Office spoke to Steven Bostock, Partner at Mishcon de Reya and James Murray, Director at Frank Hirth about the process for Americans moving to the UK. If you don’t have time to listen to the whole podcast, we have summarised their discussion below.
Despite the weather, the UK is a popular destination for American expats. With an estimated 170,000 US-born residents, Great Britain has one of the largest populations of US citizens outside of their home country. The reasons for this are multiple. Weather excluded, the UK speaks the same language, is frequently the home of family connections, and perhaps even more importantly, boasts one of the world’s largest financial centres.
Moving abroad may seem simple on the surface, but in practice it is much more complicated. Apart from the mechanics of actually moving, there are two major hurdles that need to be overcome. The first, for those who do not hold British citizenship, is to gain the right to reside in the UK. The second is to develop a financial plan that ensures compliance with both the American and British tax regimes.
To read the entire article, visit The Cable