UK Tax Returns

US Citizens and Greencard holders living in the UK, may also be required to file an annual UK Tax Return. Due to the minefield which is the UK/US Double Tax Treaty, it is important to obtain expert advice to ensure that your return is prepared correctly.

Unlike the US, not everyone needs to prepare a UK tax return, and indeed, HMRC are planning to change the whole tax return system and move over completely to a more streamlined and automated process of calculating your tax liabilities (that will consign paper tax returns to history). However, for the time being you may need to prepare a UK Tax return if:

  • You are self employed or a partner in a partnership
  • You are a company director
  • You have large amounts of savings or investment income
  • You have untaxed savings or investment income
  • You own land or property that is being let
  • Your household receives Child Benefit and you have income in excess of £50,000
  • You have sold or given an asset away (such as a holiday home or some shares)
  • You have a US pension
  • You have other income or gains from the US or other countries

Highly experienced taxation experts at Burton Sweet have access to the most current UK and US software and systems to complete any tax returns as efficiently as possible. And, whilst the advent of HMRC’s new digital tax system – Making Tax Digital (MTD) – is around the next corner, we welcome the chance to review and report on your likely tax liability at any time throughout the financial calendar. And, when MTD’s digital tax system is full in force, we will still be here to help you with preparing your submissions for your approval.

Need some advice?

To speak to an adviser about your US/UK Tax affairs, please call Rachel Finch, Director, on 01934 620011. Alternatively, you can send a message to the team now.