# Can NOL be carried forward from US to UK?



## JamesJoyce (Feb 8, 2017)

Hello All,

I'm a US citizen & resident very likely moving to the UK in the near future. I ran my own business (operations have ceased) here which suffered losses. These Net Operating Losses are being carried forward on my personal returns (I provided the business operating capital) to offset against future taxable income up to the NOL amount. Will I be able to carry this NOL offset forward if I relocate to the UK as an employee of a company? Say I have a 200K NOL. If I remain in the US and generate an income of 250K next year, the NOL would offset against that 250K, leaving a taxable base of 50K. 

Is this possible for me to do if I relocate to the UK? Unsure as to whether that's in the tax treaty between the two nations.

Thanks in advance for any help!

- James


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## Bevdeforges (Nov 16, 2007)

If you move overseas, you will still be responsible for filing US income taxes on the same basis you would if you simply changed jobs within the US. The NOL won't transfer to your UK taxes in any manner, but will still be valid for carry forward on your US taxes. However, you need to consider your US tax strategy going forward. Your "earned income" (i.e. salary) will also be eligible for the Foreign Earned Income Exclusion.
Cheers,
Bev


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## JamesJoyce (Feb 8, 2017)

Great thanks Bev. Much appreciated!


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