Hi
I am a non-dom claiming remittance basis. I have a question on overseas pensions and the tax implications when making remittance to the UK on my overseas pensions.
Six years ago, my company sent me to work here in the UK on a secondment and two years ago, I was made permanent here. At the point of being made permanent, I was deemed to have officially terminated my employment contract in my home country. At that point, they paid me a lump sum for the pension scheme that both my employer and I had contributed towards.
I have since brought over most of that money into the UK and I know I need to declare it in my self assessment. I have two questions:
I) would there any tax relief for the contributions made towards the scheme for the period prior to me coming to the UK 6 years ago (I joined the pension scheme 13 years ago), or would I need to pay tax on the entire pension sum?
ii) what is the tax rate applied to the pension sum?
Any advice would be much appreciated!
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