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.
When to file for tax in the UK?
You can get help from your London relocation services agents when you need to find a new home in a day, or even to open a bank account and get you settled after moving to London, but your taxes will always rest solely upon your shoulders. If you are planning your relocation to London you should consider using a tax expert who will be able to file both sets of returns for you. That may mean that you have to pay a little more and use a company who has an office in the United States and in London to be able to complete both sets of tax returns when they are due.
The tax year in the UK runs from April of any given year to April of the next year, which is almost the same as the USA, but, if you need to file a self assessment income tax return then you have to do it in October. Discuss how you will be taxed with your new employers before your relocation to London so you have a good idea of what will need to happen with your annual tax return.
Don’t think that just because you’ve left the US that you will be able to avoid paying taxes. Tax returns for expats living abroad is a complicated process and with the different deadlines, you don’t want to be spending the entire year planning for the next tax return due date. Even if you an accountant or have managed your taxes alone for several years, the laws surrounding tax on American citizens working overseas is much more challenging than usual, and you’ll want to get professional advice.
If you are completing your October self assessment forms you may want to consult with the online resources provides by the HM Revenue and Customs website after your relocation.