HappyHammer
Joined: 12/6/2024
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RE: Pension Lump Sum and Claiming Tax Refunds for Non-Residents
Hi, I’ve been living in Australia for almost 30 years and have two private pensions in the UK I want to cash out. They total about £55,000. What tax will I pay when I take out the lump sum and will I be able to claim any of it back? If I can claim some back which forms will I need to submit? I’ve been told 25% is tax free, then I pay 20% tax on the remainder minus the tax free threshold of £12,570? Can I claim some of the 20% tax back if this is correct?