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Posted Thu, 02 Nov 2023 12:15:12 GMT by RJHMC
Hi, In 2016 I moved abroad with no intentions of returning to the UK, at this point I transferred to a QROPS based in Malta, circumstances have now changed and I am looking at bring my funds back to the UK. No contributions have been made to the plan whilst it has been based in Malta but I have taken my full 25% tax free cash. Would there be any disadvantage to transferring this plan back to the UK at all? Thanks.
Posted Fri, 03 Nov 2023 09:35:30 GMT by HMRC Admin 25 Response
Hi RJHMC,
You would need to discuss transferring your pension with the pension company.
Please have a look at for more information.
Overseas pensions: pension transfers
Thank you. 
 
Posted Fri, 03 Nov 2023 09:41:34 GMT by HMRC Admin 25 Response
Hi Pen T,
Foreign Tax Credit Relief is only available in the UK, to set against tax paid on rental income from property in Spain.
It does not cover the wealth tax, as this tax is separate to income and Capital Gains Tax in Spain.
Thank you. 

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