Untangling the Atlantic Knot: Tax reporting and compliance for US citizens living in the UK

This is the story of Chris, a Brit, and Sam from the US. In this podcast we explore issues faced by this transatlantic couple including their businesses and their assets in a US to UK, cross-border context. Chris is a Brit.  He is the heir of a significant UK family business, specialising in high-end retail. The plan has always been for Chris to take over the family business. In preparation for Chris joining the family business, his parents have sent him to Harvard Business School, where he has been enjoying his classes and making fantastic contacts.  In fact, he has made the ultimate contact: Sam.  Sam is the child of a California real estate tycoon.  Whilst deciding what to do next, Sam has also been studying at Harvard Business School. Chris and Sam have fallen in love and want to get married.  In each episode, we will investigate a different aspect of the transatlantic legal issues that Chris and Sam face. Once settled in the UK, Sam quickly realises that they cannot easily escape the IRS.  As a US citizen, Sam must continue to report and pay taxes to the IRS.  But as a UK resident, Sam also needs to navigate the UK tax system.