UUÂãÁÄÖ±²¥

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

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL NOW
Powered by
  • 24 Mar 2025 13:42

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

Popular Articles

Trusts and Inheritance Tax

Tax on UK resident beneficiaries of non-resident trusts ― overview

Tax on UK resident beneficiaries of non-resident trusts ― overviewIntroductionUK resident beneficiaries of non-resident trusts are subject to UK tax on payments or benefits received from the trust. They are liable for income tax on income distributions from the trust and they may also be liable to

14 Jul 2020 13:47 | Produced by Tolley Read more Read more
tag-icon Autumn Budget 2024
Owner-Managed Businesses

Sales, advertising and marketing

Sales, advertising and marketingExpenditure on sales, advertising and marketing activities may include amounts which are disallowable for the purposes of calculating trading profits. This may be because the expenditure is:•capital in nature (see the Capital vs revenue expenditure guidance note)•not

14 Jul 2020 13:28 | 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