ÀÏ˾»úÎçÒ¹¸£Àû

Overseas pension schemes ― taxable events


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
tag-icon Autumn Budget 2024

Overseas pension schemes ― taxable events


Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
tag-icon Autumn Budget 2024
imgtext

This guidance note provides support for those needing to report taxable events in relation to overseas pension schemes that are not registered in the UK. It provides an overview only, with reference to further research materials. You may need to take specialist advice.

The tax treatment of income from foreign pensions is discussed in the Foreign pension income guidance note.

HMRC guidance on reporting pension savings tax charges, including those arising on overseas pensions, can be found in HMRC Helpsheet HS345. See also PTM113200.

Significant changes have been made to the UK taxation of overseas pensions, broadening the application of UK tax to overseas pensions. Most of the changes in this legislation apply from 6 April 2017, but some provisions (for example, the overseas transfer charge below) date from 9 March 2017. See also Simon’s Taxes E7.248–E7.248B.

The abolition of the lifetime allowance charge from 6 April 2023 created circumstances under which transfers from registered pension schemes to a qualifying recognised overseas pension scheme (QROPS) would be entirely tax-free. To remedy this, an 'overseas

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL
Powered by
  • 02 Dec 2024 12:21

Home/ Tolley Tax Guidance/ Personal Tax / Additional information supplementary pages

Popular Articles

Personal Tax

Payment of tax due under self assessment

Payment of tax due under self assessmentNormal due dateIndividuals are usually required to pay any outstanding income tax, Class 2 and Class 4 national insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2025 for the 2023/24 tax year).

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Personal Tax

Married couple’s allowance

Married couple’s allowanceThe married couple’s allowance (MCA) is only available if one of the two spouses or civil partners was born before 6 April 1935. This means that one member of the couple must be at least 89 years old on 5 April 2024 to qualify for an allowance in the 2023/24 tax year.There

14 Jul 2020 12:13 | Produced by Tolley Read more Read more
Employment Tax

Classes of NIC and who pays them

Classes of NIC and who pays themClass 1 NICClass 1 NIC is payable on earnings paid to an employed worker which derive from, or are treated as deriving from, an employed earner’s employment in the UK. There are two kinds of Class 1 NIC, primary contributions for which the employee is liable and

14 Jul 2020 11:13 | Produced by Tolley in association with Jim Yuill at The Yuill Consultancy Read more Read more
tag-icon Brexit