Kevin Stokes
Joined: 8/8/2024
-
RE: QROPS 5 Year Tax Rule
Hello. I moved to New Zealand from the UK 18months ago and am a NZ tax resident. I arranged for my UK pension to be transferred over to a NZ QROPS 5 months ago. The funds are now in NZ. I understand the 5 year tax rule means I will be liable for UK HMRC tax should I wish to withdraw money from the retirement fund. Is there a limit to the funds I may withdraw before I am tax liable? I would like to access the retirement fund from time to time to provide some income on top of my state pension.I see the number £100000 mentioned in some of the forum posts. Is this a tax threshold before becoming liable to paying tax to HMRC. Thanks