Blick Rothenberg - US Tax Explained - Subpart F Income
Confused by how US tax rules might impact your business?
We look at how IRS and HMRC tax rules apply to a US citizen in the UK who owns a UK company.
Many entrepreneurs find the US tax rules to be an impenetrable web of acronyms, jargon, and technical detail.
Subpart F income is the US tax rule, designed to stop US taxpayers using non-US companies that have income from investments and any other passive sources. This can include interest, gains, rental and also catch certain personal service company income. Where a CFC has passive income, the US can tax the shareholder’s share of the income on them personally. This is Subpart F income.
The Blick Rothenberg US UK Private Client team specialise in helping people like yourself to navigate the US and UK tax rules, cutting through the confusion, translating some of the key terms, and helping you understand how these rules affect your business.
We aim to provide practical advice and prepare your US tax return filings to ensure that you comply with the increased reporting required by the IRS for US entrepreneurs.
In the video above and accompanying articles (on our website) we look at how these rules apply to a US citizen in the UK who owns a UK company.
Visit the US Tax Rules explained section on our website for more on CFCs and other tax considerations:
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