2

I used to live overseas where I had a private pension pot. Due to covid19 exceptional circumstamnces, the country has allowed to take out 25% which I've just received in my UK bank account. How this should be taxed?

  • 1
    To many potential complications to make an answer, but from this GOV.UK page it looks like that from 2017 you pay tax on 100% of a foreign pension (90% before that date)... if the lump sum was built-up before April 2017, it will receive "former tax treatment" (whatever that was). – TripeHound Jun 19 at 14:52
  • Whether any of this changes because of Covid-19, I don't know...I've not dug into it, but the only tax-related changes I seem to remember hearing about involve possibly being able to defer tax payments, but even that half-remembered nugget may be wrong – TripeHound Jun 19 at 14:54

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Browse other questions tagged or ask your own question.