2blacklines
Registered User
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- 21
Hi all,
Our family is planning to move to England next February/March and have a few questions that I'm hoping might get some guidance. My partner and I will (hopefully) be transferring with our current employers to their UK branches (both private sector). The move is mainly motivated for a fresh start, to improve overall quality of life and be nearer family members who also emigrated years ago.
1. Can we move our pension pots with us (of course will only consider this once we are certain we wish to stay there)?
2. Tax year there is April - March, so how will our tax work if we officially start employment in UK early March? Is there a more/less optimum time to make the move?
3. We will be looking to bring over all of our assets, including the proceeds from the sale of our PPR here etc - effectively we will ultimately leave no ties to Ireland, following Brexit are there any pitfalls that we need to look into?
My mam is considering moving with us. She currently receives her pension income from a mix of sources - all as a widow - ARF ~50%, DB civil service pension ~10%, state pension 20% and some separate investment income ~20%.
1. I have researched the ARF tax treatment and it is frustrating but I am confident that it can be dealt with to a certain extent (i.e. assign whatever tax credits are available and gear investments internally towards dividend payment ). She intends to withdraw only the minimum requirement for the rest of her life due to having other sources of bulk income if a larger cash requirement arises. This also leaves flexibility for future potential tax changes..
2. DB civil service pension - does anyone know if this can be paid without tax being taken to avoid having to claim back tax through DTA
3. State pension - does anyone know if this can be paid without tax being taken to avoid having to claim back tax through DTA
4. Investments - are there any pitfalls to leave these under management in Ireland (as they have been for years)?
Acknowledge that this is an Irish forum so may not be any experts on UK tax issues but perhaps someone has gone through this or something similar!
Our family is planning to move to England next February/March and have a few questions that I'm hoping might get some guidance. My partner and I will (hopefully) be transferring with our current employers to their UK branches (both private sector). The move is mainly motivated for a fresh start, to improve overall quality of life and be nearer family members who also emigrated years ago.
1. Can we move our pension pots with us (of course will only consider this once we are certain we wish to stay there)?
2. Tax year there is April - March, so how will our tax work if we officially start employment in UK early March? Is there a more/less optimum time to make the move?
3. We will be looking to bring over all of our assets, including the proceeds from the sale of our PPR here etc - effectively we will ultimately leave no ties to Ireland, following Brexit are there any pitfalls that we need to look into?
My mam is considering moving with us. She currently receives her pension income from a mix of sources - all as a widow - ARF ~50%, DB civil service pension ~10%, state pension 20% and some separate investment income ~20%.
1. I have researched the ARF tax treatment and it is frustrating but I am confident that it can be dealt with to a certain extent (i.e. assign whatever tax credits are available and gear investments internally towards dividend payment ). She intends to withdraw only the minimum requirement for the rest of her life due to having other sources of bulk income if a larger cash requirement arises. This also leaves flexibility for future potential tax changes..
2. DB civil service pension - does anyone know if this can be paid without tax being taken to avoid having to claim back tax through DTA
3. State pension - does anyone know if this can be paid without tax being taken to avoid having to claim back tax through DTA
4. Investments - are there any pitfalls to leave these under management in Ireland (as they have been for years)?
Acknowledge that this is an Irish forum so may not be any experts on UK tax issues but perhaps someone has gone through this or something similar!