Tesco

A U.K. lottery account would be problematic with the US authorities. That’s definitely gambling.

There’s no negative rate with NS&I, your investment is 100% protected by the U.K. Government. I think you’re referring to speculative positive income, which is not gambling.

I believe its illegal for the USPS to circulate gambling mail, NS&I is 100% online though. You don't loose your stake, so wouldn't be viewed as gambling, as you have nothing to loose. You will need to file FinCEN114 and note as Securities. Also be mindful of IRS form 8938, as the thresholds fall dramatically when you move Stateside. You will need to look at your specific circumstances, (filling status). and then look at the specified balances to see if you need to file this form. It's a bit onerous, although once you study the process, its straightforward. Keep in mind that all FFI's need to be disclosed, to include pensions and annuities/life insurance polices with a positive balance/ surrender value, so it's your TOTAL foreign assets, (Non U.S.) that will dictate 8938 filing requirements. Unlike FinCEN114, there is no need to disclose POA & signatory authority accounts on 8938. FinCEN114 a Treasury form, more aimed to seek out money laundering. 8938 targets tax evaders (FACTA and the Hire Act) Report NS&I PB's on Schedule B also and use any 1116 passive FTC's you may have to offset U.S tax exposure. Like ISA's these wrappers and not tax efficient with the IRS.

Your tax filing obligations are generally the same wherever in the world you reside. If you work in the U.K. file a 2555 to exclude income. File a 1116 for any tax paid on investment income. File a FinCEN114 and 8938 if thresholds require this. Remember that ISA’s and other HMRC tax free items are taxable to the IRS. TaxAct is an intuitive preparation software if you go it alone.

You can order an additional copy for £6 at the time of original order, or within 3 months, (if you really wanted two certificates that is).

Yes 1116, 2555 is only for FEIE. There are several 1116 ‘baskets’, the passive income on is what you need. FBAR is simple, just use the same pdf each year and change the ‘maximum value’, save and upload-very easy. He may not know the maximum value of any pension, so the ‘maximum value unknown’ comes into play. If there’s has been no pension distribution the 8938 would be $0 and no tax associated. Your international Accountant will be well versed in the onerous form 3520. This form is not for the faint hearted, but U.K. pensions are IRS qualified, not sure about the EU ones though. Good luck with it all, my advice would be to keep financial affairs outside the US as simple as possible, unless you have a significant footprint and the resources to employ experts to keep you on the right side of the IRS, SEC & US Treasury.

You can only file a 2555 for foreign employment. You may file a 1116 for employment income under the ‘General category’ remember the 2555 excludes that income, the 1116 gives credit for foreign taxes paid and can be carried forward 10 years and back 1. ‘Passive income’ will encompass the rental income. you are allowed up to your US tax rate, so if that’s 12%, and you paid 20% to a foreign country, the difference is banked (carried forward). As for U.K. pension, make sure you file FinCEN114 and also look at IRS form 8938, don’t get caught out on this, as the penalties are catastrophic.

I have a question with regards the medical examination. If you attend the medical and at that time they require more information, (GP letter for more details for example). Would the medical date be the physical date you attended the examination, or the date any subsequent letters/follow ups had been received and then approved? Thank you.