UK Lump Sums

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limkexile

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Is a lump sum from a UK pension taxable in Ireland. I returned to Ireland and my pension pot is still in the UK. I know I cannot moved the fund to Ireland.
 
You will charged 40% emergency tax for the UK lump sum. You will then have to put in a tax claim to HMRC for any tax due back to you. It will depend on your present earnings, tax bands etc. If the pension lump sum is large you should consider doing a partial withdrawal to minimise tax due.
 
moneybox said:
You will charged 40% emergency tax for the UK lump sum. You will then have to put in a tax claim to HMRC for any tax due back to you. It will depend on your present earnings, tax bands etc. If the pension lump sum is large you should consider doing a partial withdrawal to minimise tax due.
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Thanks for your reply
 
limkexile said:
Is a lump sum from a UK pension taxable in Ireland. I returned to Ireland and my pension pot is still in the UK. I know I cannot moved the fund to Ireland.
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Why can't you? Is it a defined benefit scheme? I know you can most certainly move defined contribution benefits to Ireland. The receiving scheme has to be authorised by the Revenue (QROPS approved).


Steven
www.bluewaterfp.ie
 
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