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Author: mtulett Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 351  
Subject: Re: Tax Implications: US Citizen in UK Date: 1/8/2002 9:49 AM
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Hi,

I am a Brit, and I came back from working in New York about a year ago so basically the opposite to you. From what I understand (although don't quote me on this!!) is that the country of residence takes priority for a given year and due to a tax treaty between the two countries you can only be taxed once (although you may need to pay it all and sort the mess out later to avoid fines as I have discovered) There is a method for calculating whether you are eligible to be taxed in each country depending on the number of days you were in the country in a given year, again not certain on the details.

I was told that the ISAs/PEPs I held when I went would not be taxed while I was in the US, but I was not able to start any more while I was a US resident. What the situation is when you take the proceeds from an ISA while you are not a UK resident is I don't know, sorry.

Bit vague, but I hope it helps

Matt

I had Andersen doing my tax returns and they were very expensive (luckily I wasn't paying) and I can't say I was impressed.
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