Boris Johnson

Boris Johnson, the front-runner to succeed Theresa May as Britain’s prime minister this week, is well known to Londoners for myriad reasons, including having unofficially lent his name to a bicycle-sharing scheme (“Boris bikes”) that was launched in 2010, and with which he, a keen cyclist himself, was associated.

Less well known to many of his fellow Londoners is that he had a bitter and rather public battle with the U.S. IRS six years ago, when it sought to tax him on the sale of his London property, owing to the fact of his American citizenship, acquired at birth.

Below is an updated version of a story on his U.S. tax travails that we first ran last September. We thought it timely to revisit this issue now, because London property experts report that Americans currently account for a disproportionately large share of those currently shopping for – and buying – London properties, helped by a dollar that’s at near-record highs against the pound, and expected to strengthen further. At the same time, London property prices have been under pressure, with the average value of a London home reported recently to be  down by 4.4% in the year to the end of May.

When British politician Boris Johnson renounced his citizenship in 2016, many observers speculated that he had finally been moved to do it after the seemingly ill-advised sale of his home in north London in 2009 saw him hit with a significant (said to be in the tens of thousands of pounds) capital gains tax payable to the U.S. government on his half of the profit from the sale.

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London Mayor Boris Johnson is being pursued by U.S. tax officials while his former New York counterpart Michael Bloomberg was given an honorary knighthood by Queen Elizabeth last month.

Beware As The U.S. Tax Net Closes On Thousands Of U.S. Citizens Living Abroad.

The Conservative mayor of London – who was born in New York and holds an American passport – just revealed he is being pursued by the U.S. authorities for an unpaid tax demand. The demand reportedly relates to his first home in the UK, which he said was not subject to capital gains tax in England. According to U.S. tax law all citizens are required to file a tax return and pay U.S. taxes, even those with dual citizenship and Read More

London Mayor Boris Johnson is not taking the bait. He refuses to pay a tax assessment that the IRS claims he owes. The Mayor was born in New York and holds a U.S. passport as well as a British one.

What brought this issue into the public spotlight? While visiting the U.S. last week to promote his new book, Mayor Johnson was interviewed by a reporter with National Public Radio (NPR). During that interview, he revealed that he had received a proposed assessment from the IRS for capital gains tax resulting from the sale of his primary home in the U.K. What makes this story so tantalizing is the fact that Mayor Johnson just recently criticized the U.S. embassy in London over its failure to pay the congestion tax. Hasn’t the mayor heard of the expression, “People who live in glass houses shouldn’t throw Read More