Xerxes Associates LLP have been preparing US taxes for Americans living in the UK for over 20 years. We are experts in all aspects of US tax procedures and we offer a professional, responsive and personalised service to all US and UK expats.

Every US citizen including Green Card holders (equivalent to a permanent stay visa) is required to file a US tax return every year. In addition to preparing individual US federal and state tax returns, Xerxes Associates LLP can also consider the tax efficiency of your funds, assets, savings and investments.

The ability for Xerxes Associates LLP to handle both UK and US taxes is important to our clients who have lived in the UK from a few days to a number of years. We are able to advise individuals on all matters related to taxable income from the US, UK and other parts of the world. Click here to view the full list of our packages and prices.

Tax filing requirements in the US do not stop just because you no longer earn income in the country. Citizens of the US are taxable on their worldwide income if they hold US citizenship. A US tax return must still be filed if you have an employment contract in the UK, but do not earn US income.

No matter how complex your US tax return is, Xerxes Associates LLP can assist you. We can even help if you have not filed for many years and want to get back on track. By taking advantage of the The Streamlined Tax Amnesty program, we can help chisel a route which is the best way for US citizenship holders in the UK to catch up on their US taxes.

Once you earn more than $12,400 USD as a single filer, you have to file a tax return. There is a threshold of $24,800 for married joint filers, and an additional threshold of $18,650 USD for heads of household. When your income exceeds the filing threshold, you’ll need to file a US 1040 Federal Tax return for that year, regardless of the currency.

Married couples filing separately need only earn more than $5 USD to file a US tax return. You must file a US tax return if you are married to a non-American and your worldwide income exceeds $5 USD. You still need to file taxes even if you do not work or earn an income.

You must file a US tax return if you are self-employed, or if your self-employment income exceeds $400 USD per year (in any currency from any country).

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Are you looking for US tax accountants and advisors in London or the UK?  View our fees and packages for UK and US tax return services.

Who Can Provide US Expats With Expat Accountant Service And Expat Tax Assistance?

Xerxes Associates LLP are expert specialist US & UK tax accountants and advisers based in London with over 10 years of valuable experience. As US and UK tax accountants, we offer a professional, responsive and personalised service to all US and UK expats.

What Is The Difference Between A Tax Adviser UK, Tax Consultant London & Tax Accountant London?

Essentially they are the same in respect of the core preparation service they all provide. As UK & US Tax Advisers and Accountants, Xerxes Associates LLP offer more than just the basic advisory and tax return preparation services. We also offer all of the required key services to expats in both the United States and United Kingdom.

What is an Expat Tax Advisor?

Living and working outside of your home country? Then you will probably need to submit an expat tax return. The easiest way to do so is to instruct a company which employs expat tax professionals like Xerxes Associates LLP.  If you live and work in the UK then you need to search for expat tax advice UK, for locally based specialists like ourselves to ensure the smooth processing of your tax returns.

How To File US Taxes And Tax Return From The UK?

It’s simple to file U.S. taxes in the U.K. with Xerxes Associates LLP. Our expat tax advisors are here to help. Here’s how to file your U.S. expat taxes.

• Head on over to our contact page and reach out to us. Alternatively, request us to call you by requesting a call back.
• Once we have confirmed which service package suits you best, we shall start to prepare your return.
• We file your return with the IRS and HMRC or as required.
• You can sit back knowing your taxes are taken care of.

As Tax Accountants London & Providers of Tax Advice London, Do You Offer Your Services To Expats Living Elsewhere?

We offer our services to all US and UK expats living anywhere including the whole of the UK, USA and other parts of the world.

What Is UK Expat Tax Advice?

You can still be liable to pay UK taxes even if you are not a UK resident. If you’re leaving the UK permanently or going to work abroad for at least one full tax year, you must inform HMRC. We can help with all your local and expat tax obligations and submissions.

Can UK Tax Specialists Also Help With UK US Dual Citizenship Taxes?

Yes! Taxes are imposed by the United States on its citizens regardless of where they live and how they earn their income. If you are a dual citizen living abroad, you might owe taxes to both the United States and the country where your income is earned. Contact us for more information.

What Are USA To UK Tax And Financial Services

These are core elements of the services Xerxes Associates LLP offer, including Tax Advice

Tax Planning and Tax Compliance Services ( i.e. US tax returns, UK tax returns and forms preparation).

Are Tax Advisors UK Or Those Who Offer Tax Return Services UK Regulated? 

As IRS Certified Acceptance Agents we are authorised to certify the required identification documentation for the purposes of applying for a US Individual Tax Identification Number (ITIN).

Do Xerxes Associates LLP Offer International Tax Advice For Individuals In The UK?

We have a team of experts and consultants that have experience in advising individuals on international tax matters. We are dedicated to providing our clients with custom-tailored services. No matter what your priorities and aspirations in business and life are, we will provide you with expert advice from local specialists. Due to the unique nature of your needs, our solutions are customised specifically for you.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Are you looking for US tax accountants and advisors in London or the UK?  View our fees and packages for UK and US tax return services.

What Is A FBAR And Who Needs To File One?

An FBAR form must be filed by all U.S. citizens, residents, corporations, partnerships, limited liability companies, trusts, and estates. The purpose of an FBAR is to notify a financial interest in a bank account including any type of authority over a financial account which is located outside the United States i.e. in the UK or any other country. Further information will be required before submitting the FBAR US tax form.

What Is Meant By PFIC Or Passive Foreign Investment Company?

PFIC (passive foreign investment company) is a corporation based overseas that exhibits either one of following two characteristics in regards to income or assets:

• An organisation’s gross income must be at least 75% passive, meaning derived from investments or other sources apart from regular business operations.
• Investments comprise at least half of the company’s assets and produce income through earned interest, dividends, or capital gains.

What Is The PFIC Tax Form 8621?

A shareholder of a passive foreign investment company or a qualified electing fund needs to file Form 8621 – please see above.

What Does Country Of Domicile Mean?

Domicile refers to the place where you maintain a permanent residence. In other words, your country of domicile is where you permanently reside. When you intend to remain in this place indefinitely, it becomes your domicile and you become its domiciliary.

What Is A US Expat?

American citizens who move and plan to stay in another country are called expats.

What Is The Equivalent Of The IRS In England?

The British equivalent of the Internal Revenue Service (IRS) is the HM Revenue & Customs (HMRC). The HMRC ensures that the taxation system is implemented and enforced effectively.

HMRC Or Her Majesty’s Revenue & Collections Is The Authority That Handles Tax Returns For The United Kingdom.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Are you looking for US tax accountants and advisors in London or the UK?  View our fees and packages for UK and US tax return services.

The IRS sends millions of notices to taxpayers every year. Reasons for sending these letters vary. The following list contains ten simple steps you should take when this notice arrives.

1. It shouldn’t be ignored. The IRS mostly sends letters and notices in connection with federal tax returns. The letter or notice will tell you why the contact has been made and give you instructions on how to respond.

2. Don’t panic! It is usually sufficient to respond to the notice in a simple manner.

3. Read the entire document carefully and completely. IRS letters usually contain specific instructions and information about what you need to do to resolve a particular question or problem.

4. Make sure you have filed your taxes. The purpose of these letters is typically to inform the taxpayer of a change or correction to their tax return. Compare the information in the letter with the tax return.

5. Don’t reply unless it’s absolutely necessary. This type of notice is usually informational and does not need a response. If you have to respond, you will be told exactly what to do in the notice. Do not reply unless the notice asks you to or if payment is required.

6. In the event that you need to respond, do so immediately. Despite your disagreement, you should reply. Write a response letter that explains why you disagree, and send it to the address listed in the notice. If the IRS needs more information or copies of documents to consider your position, make sure to include it. You will then need to wait a minimum of 30 days to receive an IRS response.

A date on the notice usually indicates one of three things:

– To preserve the right of appeal for the taxpayer;

– To ensure that the tax return is processed in a timely manner;

– Minimise penalties and interest;

7. Call only when necessary. The IRS usually does not need to be contacted in most cases. Before you call, ensure that you have the relevant tax return and notice at hand.

8. Your IRS letter may have arrived late. Whenever you receive a notice with a due date and the due date has passed or is too close, you should contact the IRS immediately to inform them of the late receipt and request an extension of time to respond. For overseas taxpayers with unreliable mail services, this is of particular importance. A one-month extension from the IRS is usually given right away, but you must contact the IRS to get one.

9. Please keep the notice. Make sure to keep a copy of all IRS notices and letters.

10. Need help from a professional? If you need professional tax assistance, notify the IRS that you have hired an accounting firm to assist you, and you would like time to allow your representatives to assess and respond on your behalf.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Are you looking for US tax accountants and advisors in London or the UK?  View our fees and packages for UK and US tax return services.

What are the most common reasons for not filing an IRS Tax extension?

– IRS may raise a red flag when you extend, increasing your audit risk
– I’m always late filing my tax returns
– I may be late in October as well if I file an extension.
– Everything I need for my taxes is in order, I just need to complete the tax forms.
– If I won’t use the extension, why file it?

No matter what the reasons are, they don’t matter, your tax return must either be filed on time or an extension must be sought.

Extending a deadline will postpone both the filing and payment deadlines. This is often misunderstood. The extensions will only extend the filing deadline, not the payment deadline.

The tax deadline for US citizens and residents residing inside the United States is April 15th, 2022. Filing a Form 4868, if you are unable to file by the deadline, will extend your tax return for six months until October 15th, 2022. To avoid late payment penalties, taxes must be paid by April 15th.

US Expats living in the UK have until June 15th, 2022, to file their taxes. US citizens living abroad receive an automatic extension of their tax deadline by two months. Filing Form 4868 can extend your deadline to October 15th, 2022, if you are unable to file your tax return by June 15th. To avoid any late-payment penalties, tax dues should be paid by April 15th.

It’s important to keep on top of the ever-changing tax laws, requirements and obligations, especially if you’re an expat who lives abroad in London, UK or elsewhere. Our experience allows us to provide effective solutions for almost any situation. We continue to investigate ways to help reduce your tax burden because at the end of the day, it all comes down to one thing; you’re entitled to keep what is yours! With our unique expertise in U.S. expat taxes, Xerxes Associates LLP shall ensure your interests are served correctly.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Is it necessary to file a 1040 if my income is below the Foreign Earned Income Exemption (FEIE)?

If the total income of a US citizen exceeds the standard deduction and exemption, you are required to file a US tax return. It is likely that there will be no tax due if the total income from foreign earnings falls under the FEIE limit, but a tax return needs to be filed in order to report the income and claim the exemption, since the relief is not automatic.

Even if all of my accounts are under the threshold of $10,000 (£7962.20), do I need to file an FBAR?

Possibly. If the total balance of all your non-US bank accounts combined is over $10,000 (£7962.20), an FBAR (Foreign Bank Account Reporting) is required. For example, if you have three accounts, each with a maximum balance of $4,000 (£3184.88), you must file. Whether or not this figure relates to the same funds that have been transferred between your accounts does not matter. All foreign bank accounts must be included in the FBAR, not just those that exceed the $10,000 (£7962.20) threshold.

My spouse is not a citizen of the United States, so does she need to file?

Not always. If they receive income from a US source, a spouse who is not a US resident has to file a US tax return. Being married to a US citizen does not obligate you to file US tax returns. A spouse in the US will simply need to file a ‘married filing separate’ tax return stating that their spouse is a non-resident alien who is not required to file taxes

What if I have missed years of filing my US tax return?

It’s never too late to file for past years. If US taxes are due, interest and penalties will continue to accrue until payment/submission, so it is best to resolve your affairs as soon as possible.

Exactly what is FATCA?

In the UK, many US citizens are being sent rather intimidating FACTA compliance packs from their UK (and other non-US) banks inquiring whether they have any connection to the US. FATCA regulations have brought about this.

In the US, a law called FATCA requires all banks and financial institutions to report to the IRS information about overseas bank accounts of customers who are US citizens or residents. The goal is to prevent tax evasion through offshore accounts.

US citizens who are behind on their US tax filing and foreign bank account reporting may find this very concerning. In addition to being a confusing and long form, the compliance packs sent by banks are also reported to the IRS who will be notified about accounts that are allegedly not disclosed.

The law is meant to go after very rich tax evaders rather than the average US taxpayer, but you should get caught up with US tax compliance sooner rather than later.

What is the cost to get my US taxes up to date?

We are very transparent about our costs and packages. Click here to view our current prices.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

From simple to complex situations, we work with taxpayers from all over the United States who live in London or other parts of the UK.

We at Xerxes Associates LLP make the process of filing US income taxes for expats living in the UK, seamless and refreshingly simple. We have certified tax advisors who are familiar with all the dynamics involved in being a US citizen overseas. For expat tax planning, you only need to get in touch with our experienced, friendly tax advisors to start the ball rolling. Despite difficult tax jargon, we strive to help you easily understand US expat tax laws and rules. You can rely on us for expat tax advice, in addition to having a personal relationship with you, we will also make it easy for you to file US income taxes from the United Kingdom!

Why use a Xerxes Associates LLP Tax Preparation Service?

Professional assistance with US expat tax returns is essential.  Because some situations are similar, there are so many “do-it-yourself” tax software providers for people living in the USA.  Americans receive standard tax forms from their employers and financial institutions, such as W2s and 1099s, and their numbers are plugged into a program designed for people in similar situations.

Every expat tax return, on the other hand, is unique since every country has a different currency, different types of retirement accounts, and different agreements with the United States.  Additionally, customers’ personal tax situation adds a layer of complexity that electronic software vendors are unable to handle effectively!

Data entry is a big part of filing a tax return, so we try to automate and streamline this process as much as possible while passing the savings along to you.  We can help steer you through expat tax engagements using our experience and professional judgement. That’s why you should work with us!

Failure to file a foreign bank account report or another international informational return could result in a $10,000 or more penalty.  You can also be denied foreign tax credits or exclusions if you use them incorrectly. We engage with our clients proactively on these issues and help to ensure that they understand what the IRS requires.  The best way to ensure that you stay on the good side of the IRS is to file a professional, accurate, e-filed tax return!

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Xerxes Associates LLP provides US expats living in the United Kingdom with a range of tax filing services to meet your specific needs. Whether it’s preparing your US tax return or advising you on UK tax implications, our London based team of dedicated tax experts understand the complexities of expat tax.

Citizens and permanent residents of the United States must file U.S. tax returns every year to report their worldwide income (over certain threshold amounts), whether or not they owe U.S. taxes.

Whether or not you spent time in the U.S. or received income from the U.S., you must still file your US tax return. Regardless of whether you earned all of your income in the UK or any other country, and paid taxes to HMRC (UK tax authority), you are still required to file a U.S. tax return.

Taking advantage of the various exclusions and credits you can claim is key to reducing your U.S. federal tax liability – and this is where Xerxes Associates LLP can help! We provide the following tax advisory services;

● US Federal And State Income Tax Returns
● UK Self Assessment Tax
● Expatriation Services
● Personal Tax Planning And Advice
● FBAR And ITIN Assistance
● Consultations
● Streamlined Filing Package
● CFC’s, Form 5471 And Gilti
● & More

U.S. clients living in the UK have been helped by our team of expat tax professionals to efficiently and effectively manage their tax responsibilities.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

As an expat living in the UK, you might be concerned that you have not filed your US taxes. The following reasons may encourage you to make tax compliance a priority.

– You must file US taxes even when earning income overseas.
– If you owe US taxes, it could cause problems for your passport renewal.
– The US Government has been unpredictable lately, particularly in matters of immigration, which adds to the uncertainty.

It is a common mistake for U.S. citizens living abroad including London to forget to file their taxes. Since the passing of the FAST Act in 2015, many US expats living in London and elsewhere have ongoing concerns about looming tax issues and the possibility of having their passport renewal compromised.

Xerxes Associates LLP has over 10 years of valuable experience in helping U.S. citizens living in the United Kingdom to get back into compliance with the IRS (and HMRC). To resolve your back tax issues, here are a few steps you can take.

– To establish compliance, note when you last filed your tax and determine the years you need to file to satisfy the “system. Six years is considered compliant.
– Check to see if you qualify for the Foreign Earned Income Exemption (FEIE) and Foreign Tax Credit (FTC).
– You may have to pay social security taxes if you are a self-employed employee working in the United Kingdom unless you are enrolled with HMRC in the UK and therefore could be exempt from paying the U.S. Social Security taxes.
– You must report any foreign bank account money held in excess of $10k with a Foreign Bank Account Report (FBAR).

Are you concerned about large amounts of owed taxes?

The good news is that livable payment agreements can be reached or settlements should be available to you.

Xerxes Associates LLP are expert and specialist US & UK tax advisers based in London with over 10 years of valuable experience. As US and UK tax accountants, we offer a professional, responsive and personalised service to all US and UK expats.

Take Advantage of our free introductory phone consultation – call us today and speak with a tax professional on the phone to discuss your situation before having us work on your case.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.

Strict US tax laws affect US expats living abroad and as a consequence employees and individuals need specialised advice from local tax experts such as Xerxes Associates LLP, to navigate US tax law minefields. Located in London, our US and UK tax advisors are ideally positioned to advise clients who are based in the UK or are US citizens living abroad.

Clients can rely on our team of experts to navigate the often complex interactions between US and UK tax systems.  With decades of top level experience handling US UK tax matters, you are in good hands with Xerxes Associates LLP.

Legislation such as the Controlled Foreign Corporation (CFC) rules was enacted in order to combat tax evasion. In many cases, these rules impede the ability of ordinary Americans who are living and working abroad. Our London-based US & UK Tax Advice team can assist you with structuring your non-US income in order to reduce the impact of these rules.

Families with US citizens or residents, or those with assets located in the US, might find providing for the next generation difficult. Our team provides expertise in multi-jurisdictional estate planning including advice to US citizens married to non-US citizens, property real estate investments, lifetime gifting, and UK ‘deemed domicile’ issues.

In addition to tax advisory services, Xerxes Associates LLP also provides individuals with a full range of US and UK individual tax compliance services. Our expert team of IRS preparers and Certified Acceptance Agents can help you clearly understand and correctly file all necessary Federal and State forms as required. We can also assist with further ITIN and/or FBAR applications.

Xerxes Associates LLP work closely with US and UK expats from all different backgrounds, circumstances and occupations as well as high-net worth individuals in order to help them through the complexities of US and UK tax compliance requirements (tax imposed on expatriates). If you have a query or would like a friendly no obligation chat about your requirements then please get in touch and we shall be happy to assist you.