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  • RE: IOM Offshore pension taxable in UK ?

    I can do it now but I don’t know how it would be treated. It’s not hypothetical and indeed I’m asking how will it be treated now if I do it as I am in the process of returning to UK and want to use the lump sum to purchase a house.
  • IOM Offshore pension taxable in UK ?

    I have been living in Germany last 12 years, I was on secondment from my company and they had me placed in an offshore pension scheme. The pension has been wholly funded by net salary as there is no tax deductable allowance for pension contributions in Germany for foreign schemes. If i return to the UK and access the pension will i get allowance for it being a net contributed pension where tax has been paid on all contributions or will UK just view it all as straight income or will they tax just the capital growth. IOM scheme have said they would pay it to me without tax regardless of my domicile.