Tax on UK Pension Lump Sum

Discussion in 'Tax' started by ATN, May 28, 2008.

  1. ATN

    ATN New Member

    [FONT=&quot]Good afternoon all,[/FONT]

    [FONT=&quot]I am due to receive a UK Pension later this year.[/FONT]
    [FONT=&quot] Can anyone enlighten us as to whether the lump sum element, which is tax free in the UK, is taxable in Ireland?[/FONT]

    [FONT=&quot]I have read elsewhere that the revenue here do not recognize "tax free“ elements allowed by UK Revenue.[/FONT]

    [FONT=&quot]If anyone can help, Thanks![/FONT]

    [FONT=&quot]Anthony [/FONT]
  2. gongey

    gongey Frequent Poster

    an irish Form 11 or 12 has a section for UK pensions paid with a section then for tax deductd on that pension. If you are Irish resident and domiciled then you are taxable on your worldwide income with credit for tax paid abroad. I would think you will be taxable on this lump sum.
  3. Iceman732

    Iceman732 Frequent Poster

    Double taxation relief. The point of having taxation agreements is that an individual should be worst of as a result of moving countries!!

    Are you resident, ordinarily resident and domiciled in Ireland?
  4. ATN

    ATN New Member

    Thanks all for the response.

    I am Irish resident and domiciled for past 10 years working as a sole trader.

    I worked for 20 years in the UK and hence the UK company pension ( final salary) entitlement.

    I have no other pension.
  5. ak45

    ak45 Guest

    I am in the same position as you. I tried the Revenue office and the lady answering the phone seemed unsure. I also emailed the revenue but no reply so far. Would be interested in any further info. Is it possible to leave the lump sum in Uk and take it at a later date?