We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply
Inherited IRA Tax Implications
Comments
-
100% correct. This is HMRCs new interpretation.Bostonerimus1 said:
So is HMRC now using the Savings Clause to over-ride Article 17.2?Cook_County said:This is an area on which I advise professionally many times every month. I have also had numerous meetings with senior HMRC policymakers over the last dozen years. HMRC interpret the treaty as giving the right to the UK to charge tax, but with credit for the actual tax due in the US (not the 30% withheld). In essence file both US & UK tax returns, the UK will give a credit for any US tax payable.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards