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Posted Wed, 07 Feb 2024 21:37:15 GMT by
I returned to from South Africa 25 years ago and left a paid up Retirement Annuity policy there. No funds have been added to this policy for at least 26 years. This is now in the process of being paid out as a lump sum to me in the UK. What are the tax implications for me in the UK (South African Tax clearance and outstanding taxes in SA will be paid before funds are sent). Do I need to declare this sum on my Self Assesment
Posted Tue, 13 Feb 2024 12:55:14 GMT by HMRC Admin 5 Response
Hi

Yes you need to declare this income - Tax on foreign income

Thank you

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