Forum Topic

Americans in Chiswick?

Hi,I wondered if there were any fellow Americans (dual citizen, non-UK domiciled or resident aliens!!!) who wanted to meet up once in awhile somewhere around Chiswick?  Partly it might be a fun way to meet people and have a little club.  The other thing is that maybe we can share information that would be relevant to us.  What got me thinking about this is the particular case of how income and/or lump sums from a UK personal pension fund is treated by the IRS.  It appears to me now that instead of being a tax efficient vehicle it is potentially a double tax situation.  It's not very clear what the treatment would be for pensions and also for ISAs.  We may be able to learn things from one another.  I'm certainly trying to figure it out.Maybe there are other things people have in common - who knows.  I'm just putting this out there.  If get any response to this post then I will suggest a time, date and venue (definitely a local pub) and the Chiswick American Club will be born.Thanks,JoePS  If there is already a Chiswick American Club please let me know!

Joe Wengler ● 4975d24 Comments

If you like real American beers(not the usual (Coors/Miller Lite muck)try the White Horse at Parsons Green.

Keith Iddon ● 4975d

Septics In Chiswick??Clear off back to South Ken. and St.johns Wood wence you came!!!!!Only joking ,enjoy the best place In London.....W4.

Pete Mayes ● 4975d

Hi JoeI'm one of those Yanks (meant affectionately) living in lovely W4.  From NY been in the UK 25 years (Chiswick 19 of those).  Would be interesting to meet up - I know 2 or 3 other Amercians here as well.The IRS situation gets really fun when you throw in Capital Gains on house/flat sales (by fun I mean scary).  Do PM me if you want to try and organise something.Jeannie

Jeannie Shapiro ● 4975d

Would also be interested in meeting up.

Leigh Gardner ● 4975d

Yes, count me in.

Holly Hodges ● 4974d

Hi,Great response!  Three confirmed as interested.How about 7:30 at The George IV on Wednesday March 27th.  I'll see if I can book the upstairs bit they use to screen the rugby.  Leave it to me to confirm the venue.So, if that time/place/date works please let me know and we'll try to get something scheduled in the diaries.Thanks!Joe

Joe Wengler ● 4974d

Hi Joe, I'd be interested too.  Are you still meeting on Weds at the George?

Sarah Dinsmore ● 4965d

Hi,I did speak to the George and they would be happy for us to reserve one or two of the oval tables at the back of the pub beyond the stairs.  However, I never agreed a date with them so will go down there today to see if Wednesday is ok.  They just need to check there are no big sports events that evening but I'm pretty sure that there aren't this week i.e. no Premiership or European football matches that night.  So, Wednesday the 27th is possible and I will come back this afternoon to confirm.  Thanks,JoePS  Just to get an idea of numbers please could anyone interested for this Wednesday reply so I can get a count?

Joe Wengler ● 4965d

Unfortunately can't make Wednesday evening (a bit difficult before the long weekend).  Have fun if you go ahead and would be interested in the next one. 

Jeannie Shapiro ● 4965d

In general, rule of thumb on lump sums from pensions especially final salary plans is:  if it isn't taxable in the UK, then it isn't taxable in the US. Although the US does have the power to override that treaty, if they decide to.  The override policy has a name which escapes me at the moment.  An ISA isn't recognised as a pension product by the US and therefore income is reportable.

Charles Campbell ● 4964d

Hi Charles. That is interesting and I hadn't heard that. Do you think that applies to personal pension plans?  Thanks.

Joe Wengler ● 4964d

I think charles was actually replying to the US & UK tax thread (it's above at the moment).

Micki Hawkes ● 4964d

Hi Joe,  I think it should apply as well, BUT don't take my word for it.  Be careful of a lot of misinformation on various forums if you google the tax treaty.  The UK/US pension treaty was changed in about 2003/4.  It can be confusing as the policy I spoke about is called "Saving Clause". It seems to negate the tax free treatment of lump sums.  My enquiries with an IRS represetative on the phone where we went through the treaty together resulted in him telling me "if not taxable in UK then not taxable in US" However, he further stated that there was a savings clause in the treaty. He gave me his IRS personal rep number and I wrote down everything he said which I have kept in my files.  I believe (which my accountant agreed with) is that the saving clause is a way the IRS can claim taxes on the lump sum if someone has been a bad boy like hiding money in UBS in Switzerland.  My entire discussion with the IRS revolved around a final salary pension plan based on the new rules from 2004.  I didn't touch on other plans so I would just call an accountant and see if they will answer a simple question without charging.  Some do, some don't. Hope to meet up at one of your meetings - at the moment, wednesday's are bad for me.

Charles Campbell ● 4964d

The only answer and it is archaic so do not disparage, is to do what Mr. and Mrs Burton did in the 60s.  Become Swiss citizens.  Sadly, being taxed too heavily is not only a UK and US problem.  But it is one that we should all consider.  Paying a "fair" share seems to be something that is not possible.  The working poor are taxed too heavily as well as the very wealthy.  No one wants to come up with an answer that is "fair" on either side of the pond

Jean Bennett ● 4964d

Joe, I've sent you a PM.

Holly Hodges ● 4961d

Hi Joe,My husband and I would be interested to join the next meetup - any plans thus far?  Kind regards,Sara

Sara Rigg ● 4941d

Sara, there's a Facebook group too: https://www.facebook.com/pages/Chiswick-American-Club/142898792547712

Holly Hodges ● 4941d

Thanks, Holly!  'like'

Sara Rigg ● 4941d

Bump for Chelsey....

Ann Williams ● 4891d

Watch for the next meeting on July 4th.  Are people around?Like us on Facebook.

Joe Wengler ● 4891d

Hi Joe. I'm around on the 4th. It would be great if you could post the details on the Facebook page.

Holly Hodges ● 4888d

I met the delightful Chelsey at the Bedford Park Festival today..i thought for a moment a Pamela Anderson lookalike contest was part of the Green Day activities..

bobby osborne ● 4888d

Bob, you are sooooo insightful, lovely to meet you. What a cracking day - Hampton Court this morning, Green day this afty. You guys have so much culture, the only cultures we have are grown in the lablove you allmwaaaaah

Chelsey bunn ● 4888d

Hi all! I hope you're well,I know this is several years later now... but my partner and I were wondering if a little American group had formed in Chiswick? If so we would love to meet!Thanks,Coralie

Coralie Bish ● 1986d