James
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RE: US pension and UK Tax
Thanks for the response. To clarify, if I take just 25% of my 401k pension pot now as a lump sum would this 25% be free of UK tax. I believe this is the case with a UK pension. I understand that if I then take the remaining 75% as a lump sum at a later date this would all be subject to UK tax. Or is it that whatever fraction of the pot that I take now as a lump sum 75% of this fraction will always be UK taxed. Thanks -
RE: US pension and UK Tax
My situation is similar to GeoffD69. I have a 401k from past US employment and am now a UK resident and citizen. If I were to take a 25% lump sum from my 401k I understand that the US would tax this. My question is whether the UK would tax this, or can I take 25% tax free in the same way as I can for a UK pension. Thanks