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Essential Compliance Checks When Expanding Your Business
Expanding your business can be a thrilling opportunity for growth, but it also comes with its set of challenges. Among these, ensuring compliance with legal and regulatory standards is crucial. Overlooking these aspects can lead to costly penalties, operational setbacks, or even damage to your business reputation.
Distillers toast £25m Brazilian boost for Scotch Whisky
Trade Secretary Jonathan Reynolds is visiting a distillery in Scotland to celebrate Brazil’s decision to grant special protected status to Scotch Whisky.
UK-Ukraine digital trade set to grow
The UK-Ukraine Digital Trade Agreement (DTA) enters into force today, allowing businesses on both sides to benefit from quicker and cheaper trade.
The Building Blocks of a High-Performance Website: Technical SEO Insights
The performance of your website significantly influences its success. A high-performance website isn't merely a nice-to-have feature; it's essential. Technical SEO plays a critical role in ensuring your website meets the demands of both users and search engines. In this article, we’ll explore key elements that contribute to a high-performance website, from site speed to redirects, each playing a pivotal role in your site’s overall success.
US Expats: IRS announces expiration of unused ITINs
From 2016, US Individual Taxpayer Identification Numbers (ITINs) will expire if they are not used on a federal income tax return for five consecutive years.
The new policy is designed to ensure that anyone legitimately using an ITIN for tax purposes can continue to do so; however, inactive ITINs will expire regardless of when they were issued.
I have filed | I have not filed |
Any ITIN will remain in effect as long as you continue to file US tax returns (this includes anyone issued an ITIN after January 1, 2013). You will no longer face mandatory expiration of your ITIN and you will not need to reapply in 2018. | The IRS will begin deactivating unused ITINs in 2016, which should provide enough time to file a valid return. Once an ITIN has expired, individuals will need to complete and file a Form W-7. |
If you are a US expatriate based outside of the US, F&L’s Expatriate Tax Team are here to assist you with all the US and UK tax advice and compliance services that you require