Planning for a Property Purchase as a US person in the UK
As with other financial decisions, Americans often have additional areas of consideration when purchasing a property in the UK. Within this whitepaper, we discuss these areas in greater detail.
Do you own PFIC investments?
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.