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Posted Mon, 29 Jan 2024 22:00:59 GMT by
Dear Sir I had completed 10 years of service in India and relocated to the UK in October 2022. I am currently planning to withdraw my Employee Provident Fund and have a few queries related to the taxation of the PF amount in the UK. I would greatly appreciate your assistance in addressing these concerns: 1) I contributed to the provident fund during my time as an Indian tax resident. If I withdraw the PF amount while in the UK tax residency, would the entire withdrawal amount be considered as taxable foreign income, or would it be limited to the interest earned on the funds after my move to the UK? According to the Double Taxation Agreement (DTA) details available on the HMRC website, specifically between India and the UK, it appears that the PF amount may not be treated as taxable foreign income in the UK. The relevant information can be found here: https://www.gov.uk/government/publications/india-tax-treaties/2020-uk-india-synthesised-text-of-the-multilateral-instrument-and-the-1993-double-taxation-convention-in-force#article-19--governmental-remuneration-and-pensions Thank you for your time and assistance.
Posted Thu, 01 Feb 2024 11:56:37 GMT by HMRC Admin 5
Hi

HMRC cannot comment on future events as legislation and/or plans may change.

Thank you

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