American UK Tax Solutions
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2025 US Tax Filing Season

The filing deadline for 2024 returns is 15 April 2025 for most people.  However, this is automatically extended to 16 June for those resident outside the US and the deadline can be further extended to 15 October.  The deadline for filing the FBAR is automatically extended to 15 October. Payment is due by 15 April even if a filing extension has been granted. The IRS will start accepting returns for 2024 from 27 January.

UK Autumn Budget 2024 And What It Means For Americans In The UK
Find out about the autumn 2024 UK budget  : Autumn Budget 2024

US and UK Taxes

Dealing with the tax system of one country can be frustrating enough, but when you have to deal with the tax systems of two countries it can become a real challenge!

The issues are often particularly acute for US nationals who move abroad because of their ongoing obligation to file US tax returns and their continuing liability for US taxation on their worldwide income.

The problems are exacerbated by the fact that the vast majority of tax advisers fully understand their home country’s system but generally have only a hazy understanding of overseas tax systems.  Unless you understand how both systems work, any tax planning you do to improve your position in one country may just make it worse in the other.

That is where we come in. Whether you are an individual or a business with a full understanding of both the UK and US tax systems, we are ideally placed to advise you not only on how to meet the obligations of the IRS and HM Revenue & Customs, but also on how to manage your tax affairs in order to minimise your tax bills and optimize your financial position. 

Top Tax Pitfalls for Americans

We've identified the top 5 tax pitfalls for Americans in the UK 
Find out about them here.

Contracting in the UK

Americans setting up their own Limited Company in the UK need to be aware of the US tax consequences and additional tax reporting requirements which include possible stiff penalties for failure to comply.  The recent US tax reform legislation has also had a major impact upon the taxation of foreign corporations owned by Americans.

Find out about: Contracting in the UK

​IRS Given Power to Revoke Passports

Late in 2015 President Obama signed into law the "FAST Act". This includes a provision adding section 7345 to the Internal Revenue Code. The law says that the State Department can revoke, deny or limit passports for anyone the IRS certifies as having a seriously delinquent tax debt in excess of $50,000.


Do you need to file a US tax return?

An overview of the UK tax system

Other filing requirements

Passive Foreign Investment Companies (PFIC)
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Non Filers: Bringing Your US Taxes Up To Date 

Many Americans overseas find out that they should have been filing US tax returns. In most cases they should be able to bring themselves back up to date without incurring any penalties.
Find out more about bringing your US tax affairs up to date here

Problems With Mortgages

Repaying a Sterling mortgage can give rise to unexpected tax liabilities

Reporting non-US financial Assets

Americans who hold financial assets outside the United States should be aware that they may need any to file form 8938 "Statement of Foreign Financial Assets".
 
Americans (and Green Card holders) living outside the US will need to file if their specified financial assets at the end of the tax year exceeded $200,000 if you are single or married filing separately or $400,000 if you are married filing jointly, OR if at any time during the US tax year, exceeded $300,000 for single or married filing separately, or over $600,000 for married filing jointly.

​Find out more here
American UK Tax Solutions is a trading name of Timothy Johnson Ltd a UK firm of Chartered Accountants.
 e-mail [email protected]   tel: +44 (0)20 3174 0640
8 Rhodesia Road : London : SW9 9EL : United Kingdom 
Company Registration Number: 07054106