Non-UK pension schemes ― overview

Produced by Tolley in association with John Hayward
Non-UK pension schemes ― overview

The following Employment Tax guidance note Produced by Tolley in association with John Hayward provides comprehensive and up to date tax information covering:

  • Non-UK pension schemes ― overview
  • Introduction
  • Living overseas and retaining membership of or joining a registered pension scheme
  • Member contributions
  • Employer contributions in respect of non-UK resident employees
  • Migrant member relief
  • Transitional provisions: members previously subject to corresponding relief
  • Transferring UK pension rights overseas

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marked the end of the Brexit transition / implementation period entered into following the UK’s withdrawal from the EU. At this point in time, key transitional arrangements came to an end and significant tax changes associated with Brexit began to take effect. This document contains guidance on subjects potentially impacted by these changes. Before continuing your research, see the Brexit ― personal and employment tax implications guidance note.

Introduction

This guidance note examines the tax regime associated with overseas pensions and considers how it applies to those who relocate to work or retire overseas.

Those who decide to emigrate from the UK may continue to be, or decide to become, members of UK-registered pension schemes subject to certain conditions.

Living overseas and retaining membership of or joining a registered pension scheme

Since 6 April 2006, membership of a UK-registered pension scheme has been open to anyone regardless of where they are resident. Neither is there any restriction on the amount that can be contributed by an overseas resident individual, or by an employer in respect of overseas resident individuals. However, relief from UK income tax may not be available or may be restricted on contributions made by the scheme member and / or their employer where applicable.

Member contributions

Relief from UK income tax on contributions b

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