ChatterBank1 min ago
An American coming back to UK - legal and finance questions.
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My brother was born a UK citizen but lives in America and is an American citizen. He has recently been widowed and wants to come home to retire. Would there be a problem with the Home Office. ? He has a small UK state pension and cash to buy a home and to invest. He so needs to invest to get the highest return to boost his income. Is an Annuity, the way to go ? I have found out about NHS stuff and that is OK. Will he be liable to pay tax on investments to USA or UK.. Does anyone know of any possible difficulties that might arise about his plans ? Any advice, extremely welcome.
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For more on marking an answer as the "Best Answer", please visit our FAQ.You pay tax under the regime of the country where you live, so your brother should pay tax in the UK. If he has income from the US then there are arrangements in place between the UK and US authorities to ensure that he does not get taxed twice.
Annuities are not generally thought to be the best ways to invest, but he should take proper advice from an expert, with whom he candiscuss all of all his financial details, needs etc.
I foresee no problem with a UK Citizen returning tto live in the UK
Annuities are not generally thought to be the best ways to invest, but he should take proper advice from an expert, with whom he candiscuss all of all his financial details, needs etc.
I foresee no problem with a UK Citizen returning tto live in the UK
I've been dealing with the Inland Revenue and Home Office quite a lot recently as we have expatriate employees where I work. If I were you I'd get your brother to phone the Home Office direct. They're very helpful and will advise which forms, if any, should be completed. Once in the UK he should also follow up with a call to the Inland Revenue to ensure he hasn't missed anything.
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