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Posted Tue, 27 Aug 2024 07:51:25 GMT by Debbie Wallace
I am hoping that someone on this forum has had a similar situation. In 2012 I transferred my UK pension via QROPS to Canada, unfortunately I had to return to the UK in 2013. The UK pension was transferred into a RRIF, since then I have had to come to realise that I cannot get the pension back to the UK without significant tax implications. I am now looking to retire in the next 3 years aged 65, I am so confused as to how to drawn down a monthly income from my RRIF in the most tax efficient way. I have read so much information but remain totally baffled. Can anyone help me? Thank you.
Posted Wed, 04 Sep 2024 07:16:58 GMT by HMRC Admin 25 Response
Hi Debbie, 
You will need to seek professional advice on the most tax efficient way of taking a monthly drawdown.
This is not something we can advise.
We can only refer you to the guidance at DT4605, which explains why both countries would tax the drawdown.
Double Taxation Relief Manual
Thank you. 

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