Wow, look what Liz wrote in the American Expat Financial News Journal! Based on current market reports, she takes an in-depth look at what Americans selling their homes in the UK need to know about cap gains tax. Many American expats don’t know that they must pay capital gains tax when they sell their homes… Read More

Back in 2019, when the UK’s separation from the EU was a virtual certainty approaching implementation, we took a look at Brexit’s impact on the economy, including how it might alter the relationships between currency values. At that time, the GBP was still coming off of a low that had resulted from the certification of the… Read More

The global pandemic has affected people all over the world physically, emotionally, and economically. It has caused global economies to crumble and businesses to shut their doors forever. The resulting impact of this domino effect is that the average American family who was once financially stable, is now struggling to pay their mortgages and keep… Read More

In today’s post pandemic economy, taxpayers can use all the help they can get. The weakened economy and consumer unsurety have led to many workers filing for tax extensions this tax season. In fact, there has been so many tax extension requests already this year that the Internal Revenue Service has decided to delay the… Read More

  Just like the US, the UK is also a tax-intensive country. However, corporate taxation and capital gains are less taxed compared to the US. It is important for US citizens living and working in the UK to be fully informed about and compliant with the UK taxation system. An experienced UK tax specialist can… Read More

Understanding director’s loans is an important factor in today’s business world. What is a director’s loan and how does it affect your tax obligation? A director’s loan constitutes of any money that the director takes out from a company, which is not used to pay out operational expenses, dividends, or salaries. A director’s loan account… Read More

What Is The US Foreign Trust Tax? A foreign trust is a tax structure that allows the transfer of property from grantor (property owner) to another party called the trustee. The trustee is tasked to administer the property that will benefit a third party called the beneficiary. Under US law, any trust that is organized… Read More

Many US citizens have acquired Green Cards or Legal Permanent Resident status. However, questions arise when they relocate to the UK due to personal or career obligations. US Green Card holders have similar tax filing requirements as regular US citizens. They need to report income, regardless of where they live. They may be eligible for… Read More

Two of the hardest hit sectors in the UK by the COVID-19 crisis and subsequent lockdowns, travel bans, and business closures, are the hospitality and tourist sectors. A research study found that COVID-19 had cost the average small company almost £15,000 to date and 25% of these businesses are at risk of closing completely in… Read More

The UK’s new Job Support Scheme (JSS) will commence 1 November 2020, and last for a six-month period, or when the present furlough scheme ends. What does this mean to you as a foreign business owner and how does it affect your employees? The experienced tax specialists at British American Tax are here to answer… Read More