Domicile is a legal concept in the UK, which can determine how an individual’s foreign income should be taxed. An individual’s domicile is not necessarily the same as their country of birth or residence. There are three different ways an individual can obtain their domicile:Read More
EIS and SEIS are two tax relief schemes available to companies. Which scheme is most appropriate for your company can depend on the size of your business and what phase of growth the business is in.Read More
What is an FBAR (Foreign Bank Accounts Report)?
An FBAR is a report of all foreign financial accounts held by a US person, which (if required) should be electronically filed with the BSA annually. The US government introduced the FBAR in 1970 in an effort to tackle tax avoidance. In recent years, the FBAR has received more attention following the Foreign Accounts Tax Compliance Act (FATCA) of 2010 and the introduction of more severe penalties for failure to file.Read More
The Statutory Residence Test is used in the UK to determine the residency status of an individual. Whether an individual is a UK resident or not is an important factor in determining how their worldwide income should be taxed. There are three tests to determine the residency status of an indivudal:Read More
An Limited Liability Company (LLC) is a business structure that involves the combination of the pass-through taxation of a partnership or a sole proprietorship and the limited liability protection of a corporation.Read More
There are a number of different forms you may need to file and a wide variety of deductions and exclusions you must be aware of.Read More
As an American Taxpayer you can request a six-month extension to file your taxes.Read More