Understanding director’s loans is an important factor in today’s business world. What is a director’s loan and how does it affect your tax obligation? A director’s loan constitutes of any money that the director takes out from a company, which is not used to pay out operational expenses, dividends, or salaries. A director’s loan account… Read More

What Is The US Foreign Trust Tax? A foreign trust is a tax structure that allows the transfer of property from grantor (property owner) to another party called the trustee. The trustee is tasked to administer the property that will benefit a third party called the beneficiary. Under US law, any trust that is organized… Read More

  Many US citizens have acquired Green Cards or Legal Permanent Resident status. However, questions arise when they relocate to the UK due to personal or career obligations. US Green Card holders have similar tax filing requirements as regular US citizens. They need to report income, regardless of where they live. They may be eligible… Read More

Two of the hardest hit sectors in the UK by the COVID-19 crisis and subsequent lockdowns, travel bans, and business closures, are the hospitality and tourist sectors. A research study found that COVID-19 had cost the average small company almost £15,000 to date and 25% of these businesses are at risk of closing completely in… Read More

The UK’s new Job Support Scheme (JSS) will commence 1 November 2020, and last for a six-month period, or when the present furlough scheme ends. What does this mean to you as a foreign business owner and how does it affect your employees? The experienced tax specialists at British American Tax are here to answer… Read More

There have been many questions regarding the Self-Employed Income Support Scheme. What it is and who qualifies for it are the two most popular. Keeping that in mind, the tax experts from British American Tax are here to answer these and any other tax-related questions you might have. Self-Employed Income Support Scheme Extension    … Read More

Recently, the IRS had an operational error occur at their Ogden Service Center. It seems that due to the COVID-19 crisis and subsequent shutdowns, any mail received by the IRS Service Center between March 13 and June 30, was not opened. Why is this important? Taxpayers who filed their Forms 1041 in June with balances… Read More

Late last year, a US Representative from North Carolina by the name of George Holding, introduced a new tax bill called ‘the Tax Fairness for Americans Abroad Act of 2018’, or H.R. 7358. What is H.R. 7358 and how does it affect you? We are going to take a closer look at the Tax Fairness… Read More

Am I Eligible for a Stimulus Check? By Liz Zitzow These are technically known as Economic Impact Payments. If you live abroad, you may be eligible. You are a US citizen anywhere in the world OR you are a non-US citizen who was physically resident in the US in 2018 or 2019 and also resident… Read More