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Posted Fri, 09 Sep 2022 08:42:24 GMT by VanCat
Good morning, I have withdrawn my Swiss Vested Policy (pension pot) as a lump sum last year, in June 2021. The applicable Swiss taxes have been retained by the Swiss Authorities before transferring funds to my UK bank account therefore, according to the UK-Swiss Double Taxation Treaty (art.18 and 19), UK tax is not applicable. However, I was wondering, do I have to declare these funds through the Self Assessment system anyway? Information online is confusing: some say yes fill the "Any other information" section in and submit, some others say it's not necessary. Could you please advise? Thanks
Posted Mon, 12 Sep 2022 14:03:05 GMT by HMRC Admin 17

Hi,
 
If Article 19 of the UK-Switzerland Double Taxation agreement covers your particular circumstances - and you are not therefore liable to UK tax
on your Swiss pension pot - than it is not necessary to declare the pension income in a self assesment tax return.

If however you have to complete a tax return for other reasons, you might wish (in the interests of clarity) to include an explanatory note in the

'Any Other Information' box. 

Thank you.

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