If this is your first time abroad and you’re getting excited about the opportunity of relocation to London you need to make sure that you’ve got your finances nailed down with your employer before you start packing.
Remember you have two years to apply for a tax refund, and a good tax expert can sort it all out for you and save you the possibility of civil charges for not paying tax in the US or criminal charges which you may be liable for if you have not filed a tax return after your relocation to London.
The details involved in keeping your finances and tax obligations under control can be challenging for many expats. If you’re one of the many Americans moving to London you’ll have to file two sets of returns and one of them is due right now.
There is another aspect of your relocation to London that you have to consider carefully even before you make the move across the pond. For Americans moving to London you have to get a professional to look into your tax affairs and advise you on different aspects of your employment and what it means for your tax returns back home.
There are number of additional expenses that you’ll have to consider when you’re moving to London. Part of the expenses of renting a London property is a council tax which is levied on all properties in the UK. There are different council taxes levied on different areas of London and it may be worthwhile to ask your London relocation agents about the amount of council tax you’ll have to pay in your area.