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Navigating Taxes as a US Citizen Living in the UK
Understanding taxes as a US citizen living in the UK can be complex due to dual tax obligations. The U.S. requires citizens to report global income, even while residing abroad. UK taxes may also apply, but tax treaties between the two countries help prevent double taxation. Key considerations include filing requirements, foreign earned income exclusions, and tax credits. Seeking advice from an expat tax specialist ensures compliance and helps optimize your tax situation. Stay informed to manage taxes effectively and avoid penalties.
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Understanding taxes as a US citizen living in the UK can be complex due to dual tax obligations. The U.S. requires citizens to report global income, even while residing abroad. UK taxes may also apply, but tax treaties between the two countries help prevent double taxation. Key considerations include filing requirements, foreign earned income exclusions, and tax credits. Seeking advice from an expat tax specialist ensures compliance and helps optimize your tax situation. Stay informed to manage taxes effectively and avoid penalties.