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Posted Sun, 28 May 2023 17:04:39 GMT by Christopher Johnson
Hi, I have lived overseas for many years and have decided to fully cash out my UK private pension which I took out when I opted out of SERPS in the 90's. The pension pot is valued at just under £30,000 so the annual payment is very small. Will I need to pay income tax on the balance 75% of the pension pot? I have no other UK income of any kind so my personal allowance is intact. Chris.
Posted Thu, 01 Jun 2023 05:51:03 GMT by HMRC Admin 25
Hi Christopher Johnson,
The pension company will automatically tax the payment but you can apply for a repayment.
See further guidance here:
Tax on your UK income if you live abroad
Thank you. 

 

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