Stuart Shaw

Thank you Admin 20

Thank you Admin 19 Yes, I understand that this the case for funds accrued prior to April 2017 but that it is not the case for funds accrued after April 2017 where you can claim a tax credit. My question is would you calculate what exactly what was meant by funds accrued before and after April 2017. Would this be calculated by reference to the balance at April 2017 or based on the contributions made before and after this date?

Hi I wish to clarify the UK tax treatment of a lump sum withdrawal from a Canadian RRSP by a UK tax resident. The sum is taxed at 25% in Canada I understand from DT4605 that with amounts accrued before April 2017 the taxable amount is calculated based on the gain on the disposal within the RRSP and no tax credit is available. For amounts accrued after April 2017 it is taxed a lump sum and the tax credit is available. The RRSP in question commenced over 20 years and my question is what exactly is meant by amounts accrued before and after April 2017. Should I be taking the value of the SIPP at April 2017 and applying the new rules to any growth past this date or should I be apportioning the lump sum based on contributions made before April 2017 and those contributions after.?