Hi,
I believe the US and UK have a receiprocal tax relationship - does anyone know how this works?
For example, taking a nice round figure, if someone from the UK earned or made 100,000 USD in the US would they:
- Pay tax on it in the US first, then bring the money back to the UK and pay any additional taxes here?
- Simply bring all the money back to the UK and pay all the tax here?
I have a feeling it is more likely the former where the US IR wants they cut and then, I assume, the UK simply takes the greater percentage. Hopefully, it is not a double high tax whammy as that would, I guess, be no different to the '70s when actors were leaving the country in droves?
Anyone know,
John.