Carnoustie68

Could agree with you more Daiput Not only that if, one went in the other direction and transferred a uk pension into a qrops in Australia, I understand it can be withdrawn free of Uk tax after 5 years. A totally ludicrous situation compared to ours! I’m not sure that the rules were purposely set out to penalise our situation in such a way and I wonder if it makes sense to write to a MP. I wonder also if HMRC are interpreting the rules correctly ?

I refer to the info below https://www.gov.uk/government/publications/pension-tax-for-overseas-pensions/pension-tax-for-overseas-pensions I have read the section in relation to lump sum withdrawals per below. If the scheme is an overseas pension scheme (which has a specific meaning as set out in PTM112200) part or all of the lump sum may be paid tax free. If the lump sum is the equivalent of one of the authorised lump sums paid under a registered pension scheme it should receive the same tax treatment. For example, for the equivalent of an uncrystallised funds pension lump sum paid to a member aged under 75 (see PTM063300), 25% will be tax free and 75% will taxable as pension income. I have a plan in accumulation with “Australian Superannuation” which is a large superannuation fund in Australia. It is open to the public to join. Please can you confirm or assist in explaining any guidance regarding if lump sum withdrawals are taxed in UK on the basis of 25% tax free 75% taxable. I am uk tax resident. Many thanks in advance

Many thanks HMRC admin 25 for your help

Hello, I have a question regarding uk tax on an Australian super fund pension lump sum withdrawals. If a Uk tax resident with dual Uk/Australian citizenship emigrates to live permanently in Australia on 1st May 2024 :- At what point (if any) would uk tax apply on withdrawals from an Australian superannuation fund after arrival in Australia.

Hello HMRC admin 8 My enquiry is not about foreign income. It is about tax free cash from a single lump sum withdrawal from a pension fund. Is it possible for you or a colleague to answer the question about the 25% tax free cash on a lump sum withdrawal? If it’s not possible do you have the contact info for someone within HMRC who can provide clarity.

Hello HMRC Admin 8 Thank you for your response. I received a letter from HMRC about 4 years ago saying that 25% of lump sum withdrawals from my Australian superannuation fund would be free of tax but there would be no tax free cash on regular withdrawals. Is this still the case and is there any guidance on how to submit the correct numbers on this in self assessment return?

Please can somebody help me. I am 66 I live in the uk and am tax resident in uk I have an uncrystallised personal Australian superannuation account with one of the major Australian super funds. I contributed to this from my own money. There were no employer contributions. Looking at the very first post in this thread (4years ago). The reply from HMRC admin 3 states that there is “no uk tax on lump sum withdrawals.” Is this correct? Can I withdraw lump sums from my superannuation account free of uk tax ? If not, is 25% of lump sum withdrawals tax free ? and is there any tax reduction on the contributions? Many thanks in advance for your help