Looming large

Joshua Ashman provides guidance on what US expats living in the UK should know about the US taxation of UK SIPPs

For US expats living in the UK, the spectre of US taxation looms large due to the unique citizenship-based taxation system in the United States.

Unlike almost all other countries in the world, the United States taxes its citizens on their worldwide income no matter where they reside. As a result, UK residents with US citizenship must essentially navigate two systems of taxation simultaneously. This can have important tax and reporting implications.