Questions about moving to the UK

[chrisuk406]

I moved from the US to the UK this past September.  I ran a business in the US, which I am continuing to run remotely from the UK.  

I have a couple of questions based on a couple of assumptions.

1.) Even though 100% of my income is from US companies, paid in dollars, and paid into my business account in the US, the fact that I live in the UK makes me liable for UK taxes on that income.

2.) I understand that I can claim the Foreign Earned Income Exclusion on my US taxes to offset any taxes paid to the US Government.

My questions:

1.) Does Turbo Tax support the Foreign Earned Income Exclusion?

2.) Since the tax year in the UK runs from April-April, I will not pay the taxes I owe for Sept-Dec until the end of next year.  Is there any mechanism to prevent me paying taxes on the income I know I will NOT be liable for this year?  Basically, I'm not sure how the difference in the tax years are treated by the US.

Thank you in advance for any help.

[MichaelL1]

1)  Yes, TurboTax does support Foreign Income Exclusion and Foreign Tax Credit.  With you moving in September you will not meet the 330 day test, so you may want to consider an extension for the 2017 return.

Note: your income from 1-1-2017 up to move to UK will not qualify for the Foreign Income Exclusion. 

2) You have 10 years to file a claim for refund of U.S. tax if you find that you paid or accrued a larger foreign tax than you claimed a credit for. Source: https://www.irs.gov/publications/p514

By the time you are able to file the US Tax return (to get a Foreign Income Exclusion) you should know if there are any taxes due the UK.