Monday, November 24, 2014

Boris Johnson, accidental American, says he will NOT pay the US tax on the sale of his home in the UK!


Until the US comes to value it’s citizens abroad, no gesture in the world is going to make an iota of difference. I believe for expats, big change is not quite ripe for happening. More people need to renounce. BoJo’s rebellion would certainly help, and to really drive their point home, ACA should have said Boris is morally right in flouting what they refer to as an immoral US law.
Boris Johnson becoming compliant then renouncing would sent the most effective message to the American public and lawmakers, that some people would pay anything not to be American under current law as it stands. Otherwise he’s just a ‘scofflaw’ to most.

The following is a direct report from this article, and reflects the typical feeling and response of a dual national United States citizen who has spent virtually no time living in the United States, yet is required to pay taxes. This is largely a policy question and many have argued law must change; see, Co-author. “Tax Simplification: The Need for Consistent Tax Treatment of All Individuals (Citizens, Lawful Permanent Residents and Non-Citizens Regardless of Immigration Status) Residing Overseas, Including the Repeal of U.S. Citizenship Based Taxation,” by Patrick W. Martin and Professor Reuven Avi-Yonah, September 2013.-
 http://thedianerehmshow.org/au...
Directly from article-
The prospective Conservative Parliamentary candidate, who was born in New York and holds a US passport, revealed his dispute with the US Treasury during an American radio phone-in while he was publicising his new book, The Churchill Factor.
His claims came after he was asked about renouncing his US citizenship, which the caller said was “very hard”, on National Public Radio.
Mr Johnson said: “I have to confess to you, that you’re right, it is a very – it is very hard, but I will say this, the great United States of America does have some pretty tough rules, you know.
“You may not believe this but if you’re an American citizen, America exercises this incredible doctrine of global taxation, so that even though tax rates in the UK are far higher and I’m Mayor of London, I pay all my tax in the UK and so I pay a much higher proportion of my income in tax than I would if I lived in America.
“The United States comes after me, would you believe it, for the – for capital gains tax on the sale of your first residence which is not taxable in Britain, but they’re trying to hit me with some bill, can you believe it?”
Presenter Susan Page then pressed him whether he would pay the bill, to which he said: “I think it’s outrageous.
“Well, I’m – no is the answer. Why should I? I haven’t lived in the United States for, you know, well, since I was five years old.
“I could but I pay – I pay the lion’s share of my tax, I pay my taxes to the full in the United Kingdom where I live and work.”

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