As an American living and working in London or anywhere in the UK, navigating the US and UK tax processes can be confusing. Starting out can be overwhelming, especially if it’s your first time.
When it comes to matters as serious as taxes, it’s always best to seek expert help. Xerxes Associates LLP offers comprehensive services for filing US Tax Returns in London and the UK.
Their services include the following:
FILING US FEDERAL AND STATE INCOME TAX RETURNS
They provide guidance for filing US Federal Returns and, if applicable, State Tax Returns based on your current personal situation. Their team of IRS preparers and Certified Acceptance Agents can help you understand the filing system for ITIN and FBAR, ensuring you file the necessary Federal and State applications.
FILING UK SELF-ASSESSMENT TAX RETURNS
The Xerxes Associates LLP team of ICAEW Chartered Accountants provides the essential knowledge you need for filing your UK tax return. Working closely with in-house IRS-enrolled agents, their experts help you navigate the complexities of both US and UK tax returns. They explain the preparation process and offer the most optimal filing options.
ESSENTIAL PERSONAL TAX PLANNING AND ADVICE
Xerxes Associates LLP understands that personal lifestyles and financial situations can impact tax obligations while residing in the UK. Their experts offer valuable resources to understand your financial and tax situation, providing you with the most beneficial advice. They are available to assist you at your convenience.
SUPERB FBAR AND ITIN ASSISTANCE
For US citizens, filing the FBAR is mandatory. Non-US citizens with a US spouse who wish to report US-sourced income through a US tax return can file using the ITIN application. The Xerxes Associates LLP team can assist you with valuable advice and resources for both the Foreign Bank Account Report (FBAR) form and the US Individual Tax Identification Number (ITIN) application.
ESSENTIAL COMPANY AND SMALL BUSINESS TAX
US-citizen businesses, even small ones in the UK, must fulfil statutory and tax filing requirements. Their team of ICAEW Chartered Accountants possesses the necessary expertise and experience to handle the complexities of the filing system. They offer guidance on entity selection, HMRC and Companies House filing obligations, as well as US/UK statutory and tax compliance advice.
EXPERT STREAMLINED FILING PACKAGE
Late filing while being abroad for at least 3 years can be overwhelming. The team at Xerxes Associates LLP assists you in navigating the process of tax compliance smoothly. For late filers, their process includes calculating interest and penalties, along with providing profitable advice. They facilitate filing with the IRS through the Streamlined Program, making these activities easier with the assistance of their experienced team.
CFCS, FORM 5471, AND GILTI
The IRS has strict reporting requirements for US citizens owning shares in a Controlled Foreign Corporation (CFC). Non-compliance can lead to severe penalties without a statute of limitations. Xerxes Associates LLP advisors offer tailored services to ensure compliance with the IRS, covering everything from filing to maintaining compliance.
There is a misconception that profits from cryptocurrency investments are excluded from taxation. However, both the IRS and HMRC have noted the popularity of cryptocurrencies and prioritise ensuring individuals pay taxes on their crypto assets. The Xerxes Associates LLP team include chartered accountants and tax advisors, providing legal advice on crypto taxes for US citizens residing in the UK.
XERXES ASSOCIATES LLP
If you’re unsure which service you need to fulfil your requirements for US Tax Returns in London and the UK, consult the Xerxes Associates LLP expert and experienced team of professionals online or in person at their London offices. They offer tailored services to clients across the UK, catering to their specific needs and convenience.
Contact Xerxes Associates LLP if you have any questions or would like to discuss your requirements in a friendly, no-obligation manner.
Phone: +44 (0)207 411 9026
Address: Warnford Court, 29 Throgmorton St, London, EC2N 2AT, UK