What we offer
At Simply US Tax we offer a wide range of services which can be tailored to fit your needs
Our experienced staff are able to provide a variety of services to ensure we can deliver our clients a complete solution for their needs. Our personal approach to understanding our clients’ requirements and working closely with them throughout their expat lives, combined with our professional expertise, results in long lasting relationships which often continue after clients have returned home. Explore the list of services we can provide, click on the link for more detailed information or contact us to discuss further.
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US Tax Return Preparation
The tax return preparation for US expats can be more complex than a ‘domestic; tax return, which often require additional ‘foreign’ forms to be completed. Many US based CPAs are unable to prepare these forms effectively. As part of our core compliance service we can prepare Federal, State and Local tax returns. We can also prepare form 1040-NR for individuals who are US non-residents and are required to file US tax returns.
US ITIN Services
Whether you need to apply for a new US Individual Tax Identification Number (ITIN), or if you need assistance in renewing your ITIN, we can help. We are IRS Certified Acceptance Agents for ITIN applications.
Foreign Bank Account Reporting (FBAR)
US citizens and Green Card holders are required to file the FBAR (form FinCEN 114) if they have non-US accounts and certain thresholds are exceeded. It is a separate form to your tax returns and the requirement to file should be reviewed annually. We can produce the forms and assist in the annual review.
Late Filing of Returns
Many Americans are not aware that they continue to have a US tax return filing requirement even if they do not live in the US, and as such it may be that they have not filed US tax returns for many years. The IRS provides a systems for such people to ‘catch up’ with their tax filings with reduced filing obligations. If this applies to you feel free to contact us to discuss further.
IRS Notices and Audits
As IRS Enrolled Agents, we are able to liaise with the IRS on your behalf. So you can rest assured that we can take care of IRS notices you receive, or have received, and handle any audits that may arise.
The UK is considered to be a ‘high tax’ country and Americans living in the UK often end up paying more in taxes than they would have if they earned the same income in the US. However, there are various reliefs and exemptions available (both in the US and the UK) that can help to reduce the impact. Careful planning is required to ensure Americans minimise their overall tax obligations.
Review of Prior Returns
If you believe there may be errors with previous tax filings, or if you want us to review the tax efficiency of those returns, please contact us and we can help.
Estimates & Projections
With the reliefs and exemptions available to Americans living in the UK it can become difficult to calculate tax liabilities and keep on to up the payments you need to make to the IRS and HMRC. We can help with the necessary estimates and help you to manage the process.
UK Self Assessment Preparation
In many cases, Americans living in the UK will not need to filed tax returns in the UK. However, you may need to if you are claiming certain reliefs of have income from certain sources. Should you need UK tax returns prepared alongside your US returns we can assist. Often it is best that both your US and UK returns are prepared by the same preparer to ensure information is reported accurately, efficiently and consistently in both jurisdictions.
UK Non Dom Advice
The UK tax rules for Americans and Green Card holders who are resident in the UK but not UK domiciled can be very beneficial. The practicalities of achieving these benefits can be quite involved and often requires that certain process are followed prior to transactions taking place. We can help you manage the processes and provide assistance in making the most tax effective decisions.
Our fees are agreed upfront with our clients and are customised to suit our clients’ budgets. We work closely with our clients to agree a fee that they are happy with. So whether your situation is complex or quite straightforward we can guarantee that you will receive a great value service. Contact us to receive your personalised quotation.
Areas of Specialism
Our areas of specialism include:
Foreign Tax Credits, Streamlined filing, Foreign earned income exclusion, Pensions, Expat Tax, US UK tax treaty, FBAR, FATCA, PFIC.
Foreign Tax Credits
Foreign Earned Income Exclusion (Form 2555)
Passive Foreign Investment Company (PFIC) reporting
Application of the US/UK tax treaty
Complex remuneration for Financial Service executives
Rental Properties (UK and US)
US K-1 Reporting
State & Local taxes
IRS, State and local authority notices and audits
Reporting of Partnership income (UK and US)
Foreign Bank Account Reporting (FBAR form FinCEN 114)
Reporting of Foreign Financial Assets (Form 8938)
Complex investments held through brokerage portfolios
Pensions – UK & US
UK remittance planning
UK Overseas Workday Relief
HMRC notices and audits
Bank account structuring
Tax Equalisation & Tax Protection