The Ultimate Tax Services For US Expats In London & UK
As an American living and working in London and or anywhere in the UK, you might get baffled by the US and UK tax processes. Even getting started can sometimes be overwhelming especially if it is your first time.
For serious matters like taxes, it is always best to get expert help. Xerxes Associates LLP offers comprehensive services when it comes to filing US Tax Return London and UK.
Our services include the following:
US Federal and State Income Tax Returns
We guide you to file a US Federal Return, and a possible State Tax Return, depending on your current personal situation. Our team of IRS preparers and Certified Acceptance Agents also assist you to comprehend the filing system of ITIN and FBAR. In turn, it lets you understand the necessary Federal and State applications you need to file for.
UK Self-Assessment Tax Returns
Get the significant and necessary knowledge regarding the UK tax return from our team of ICAEW Chartered Accountants. Our team works closely with in-house IRS-enrolled agents. They help you deal with the complexities of US and UK tax returns. Our experts explain to you the preparation process and work to provide the most optimal filing options.
Personal Tax Planning and Advice
While staying in the UK, there are some expenses connected to our personal lifestyles. It can also be your financial situation related to your personal business. We offer the best resources to understand your financial and tax situation and provide you with the most beneficial advice. Our team is available to assist you at your convenience.
FBAR and ITIN Assistance
For a US citizen, it is mandatory to file for the FBAR. Also, non-US citizens with a US spouse, who is willing to keep a report of US-sourced income through a US tax return can file it through the ITIN application. Be it the Foreign Bank Account Report (FBAR) form or the US Individual Tax Identification Number (ITIN) application, our team can assist you through beneficial advice and resources.
Company and Small Business Tax
A US-citizen operation, even a small business in the UK required to apply for statutory and tax filing. Our team also has ICAEW Chartered Accountants and they possess the expertise and experience necessary to deal with the complexities of the filing system. Guidance regarding entity selection, HMRC and companies house filing obligations is provided by our legal experts. US/UK statutory and tax compliance advice are also offered here.
Streamlined Filing Package
A late filing along with being abroad for at least 3 years can become overwhelming. The team of Xerxes helps you to get through the procedure of tax compliance with ease. For late filers, the process includes calculating the interest and penalties, along with profitable advice. This is done by filing with the IRS through the Streamlined Program. All these activities are completed with ease with the assistance of our experienced team.
CFCs, Form 5471 and GILTI
The IRS is strict when it comes to reporting US citizens owning shareholding in a Controlled Foreign Corporation (CFC). The penalties are severe for non-compliance with no statute of limitations. Our team of advisors offers tailored services to keep the situation in control from filing to ensuring compliance with the IRS.
Crypto Tax
There is a misconception that profit made by investing in crypto-currencies is excluded from taxation. Also, both the IRS and HMRC have noticed the popularity of cryptocurrency and its gains and prioritise that individuals are paying the tax for their crypto assets. Our team of Associates LLP includes chartered accountants and tax advisors that assist US citizens staying in the UK with legal advice for crypto taxes.
Conclusion
Not sure which service you need to fulfil your requirement regarding US Tax Return in London and the UK? Consult with our expert and experienced professionals online or in person at our London offices. We offer tailored services to clients across the UK as per their requirements and at their convenience.
Contact us if you have any questions or would like to chat about your requirements in a friendly, no-obligation manner.
