I will be moving to Qatar with my wife who is working there for 2-3 years. I will qualify as non-resident in UK provided I don't come back for more than 183 days in any 1 year period. I am retired in UK with income or potential income from several sources. There is no income tax in Qatar, so I want to figure out how optimise my non-resident (potentially non-taxable) status while in Qatar. The different sources are:
1. UK full state pension which is currently subject to UK tax. Will it be untaxed while I am non-resident? I am guessing the rate may be frozen while I am in Qatar.
2. A SIPP pension pot which is untouched as yet, this would be normally be subject to UK income tax. If I start taking distributions in Qatar, will this also be untaxed? Can I make use of this non-taxable status to take extra funds tax-free to invest abroad? I am guessing any funds repatriated to UK would be taxable.
3. A 'qualifying' savings plan (endowment style) which is not subject to UK tax, but I plan to leave that untouched until I return to UK.
4. A private US pension which I have started taking distributions from, which is currently only subject to UK income tax (under double taxation agreement). If I continue take funds in Qatar, I am guessing it would come under the US/Qatari double taxation agreement and not even considered for UK tax.
Thanks
Anthony
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