US Citizen - Moving to UK - Tax Question

[minimermaid]

I am moving to the UK next Fall for work and plan to stay there for at least 3-5 years. My initial plan was to send half of my paycheck each month back to my brokerage account (Edward Jones held under a family address) and using that to pay off student loans/put money aside to purchase real estate or other investments.

From what I can tell, I shouldn’t have an issue with sending the money back to the US and using it to pay private loans. My question is more on the investment side as the UK doesn’t like US LLC’s and they are likely subject to double taxation.

From a tax perspective, has anyone had any experience as a US citizen living in the UK (as a tax resident) and owning real estate in either a LLC or companies (S or C)? I’m perfectly happy not taking a profit/income until I return to the US, but I know that the UK doesn’t look kindly on pass-through’s even if there’s no income.

 

[tunaofthedirt]

@minimermaid I think you should look into filing your UK taxes on a remittance basis. You won't be able to bring over any income into the UK (either via bank transfers or using a US credit card paid off via US bank accounts to pay for local UK expenses).

You'd essentially be looking to keep your US assets/income separate from your UK income. This way you won't be reporting your US income on your UK taxes. You will still need to report your UK income on your US taxes, but due to tax treaties, you wouldn't be double taxed.