This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Lifetime Allowance Charge Under Double Tax Treaty

tax_schmax
Posts:392
Joined:Wed Aug 06, 2008 3:53 pm
Lifetime Allowance Charge Under Double Tax Treaty

Postby tax_schmax » Tue May 30, 2017 12:49 pm

Hi

Does anyone have any experience with the lifetime allowance excess charge being collected whilst non resident. If the treaty says the pension will only be taxed in the Contracting State in which the taxpayer is resident, what is the situation where there is a lifetime allowance excess charge?

Thanks

jason13
Posts:153
Joined:Mon Mar 28, 2011 2:02 pm

Re: Lifetime Allowance Charge Under Double Tax Treaty

Postby jason13 » Thu Jun 08, 2017 8:06 pm

Does anyone know the answer? I'm curious how this works.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Lifetime Allowance Charge Under Double Tax Treaty

Postby maths » Thu Jun 08, 2017 8:46 pm

Is the question asked not a bit of a red herring?

FA 2004 s217(1) specifically provides that the persons liable to the lifetime allowance charge are the individual and the scheme administrator and their liability is joint and several.

Thus, even if the terms of a DTA protect the non-resident individual (which it may do depending upon the particular wording) from the charge he/she will in effect ultimately bear it as the scheme administrators are caught.


Return to “International Tax”