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Posted Wed, 23 Oct 2024 12:31:40 GMT by Rabbie Burns
Hi, i am doing some forward planning, regarding my future pension income, for health reasons i am considering living abroad in a warmer, drier country. I have friends who live in TRNC ( Turkish republic of North Cyprus) this is one country i am considering moving to and becoming a tax resident there. Can you advise how my UK pensions will be taxed if i reside in North Cyprus ? I will eventually have 3 pension incomes, my state pension, a workplace pension and a SIPP pension, all starting at different dates. If i reside in North Cyprus, will my pensions be paid into my Northern Cyprus bank account Gross , then i will have to deal with the taxation in North Cyprus ? Thanks in advance.
Posted Wed, 30 Oct 2024 09:05:54 GMT by HMRC Admin 19 Response
Hi,
We cannot comment on future events as legislation and, or, plans may change.
Thank you.
Posted Fri, 01 Nov 2024 16:02:23 GMT by Rabbie Burns
Hi , thanks for the reply , maybe i was a bit vague in my original post regarding the timescale, i'm actually moving to North Cyprus in January 2025 , can you provide an answer to my query now ?
Posted Wed, 06 Nov 2024 14:52:00 GMT by HMRC Admin 34 Response
Hi,
It is still in the future but based on current guidlines - The Double Tax agreement effective 18th July 2018 is between the UK and the Republic of Cyprus (also a member of the EU).
Northern Cyprus is considered by the international community to be part of the Republic of Cyprus.
However taxes paid by individuals or businesses to the so called Turkish Republic of Northern Cyprus would not be recognised as falling under the Agreement as they are not paid to the Republic of Cyprus. As a result, no DTA form could be verified and your income would remain liable in the UK.
Thank you

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