Passive Foreign Investment Companies (PFICs) form part of the 1986 IRS tax reforms that closed loopholes being used to protect offshore investments from taxation. The 1986 tax reforms not only sought to close the loophole, but also to bring such offshore investments under US taxation and deter US taxpayers’ interest in such investments through punitive tax rates.
As with other financial decisions, Americans often have additional areas of consideration when purchasing a property in the UK.
Nobel Prize-winning economist Harry Markowitz is famed for the phrase 'diversification is the only free lunch in investing'. During times of market volatility, it is important to revisit the fundamentals of a diversified investment approach. George Fisk, Wealth Manager, discusses the importance of diversification and avoiding the noise created by the mainstream media.
Within the latest edition of the American in Britain magazine, Sindbad Fawcett, Senior Wealth Executive, discusses four key financial areas we believe you should consider ahead of the end of the US tax year.
After receiving lots of positive feedback over the years for our ’39 Steps to Smart Living in the UK’, we are pleased to announce that we have finally released our ’39 Steps to Moving to the US’! As we launch our latest guide, Tor Flonaes, Partner and Senior Wealth Manager, discusses some of the most common issues facing Brits moving to the US.