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Posted Fri, 15 Nov 2024 06:25:16 GMT by sam
As a British citizen by birth, I have lived and worked abroad for over ten years and am considering moving back to England in late April 2025. Under the new UK Foreign Income and Gains regime announced in the Budget, if I cash out my Singapore Central Provident Fund after becoming a UK tax resident, will I be liable for UK tax on receipt of it?
Posted Tue, 19 Nov 2024 09:37:35 GMT by HMRC Admin 19 Response
Hi,
Article 19 of the tax treaty advises that government pension are only taxable in Singapore, unless the individual is a resident and a national of the UK:
Singapore-UK Double Taxation Conveniton 1997
Thank you.
Posted Tue, 19 Nov 2024 10:22:33 GMT by sam
To confirm my understanding, under the new UK Foreign Income and Gains (FIG) regime announced in the latest Budget, if one returns to the UK to become a UK tax resident after more than ten years of being a non U.K. residence, they will be required to pay UK tax upon receipt of a Singapore Central Provident Fund (CPF) distribution, provided the receipt occurs after becoming a UK tax resident, even if it falls within the four-year return window. Is that correct?

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