Tax on UK pension drawdown
May 18th 2018, 3:20 pm
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Tax on UK pension drawdown
Hi all,
Does anyone have steer on whether the German authorities would want to tax this..... in the UK a beneficiary can now inherit someone's pension fund following the new flex-access rules. This allows them to retain the tax free status of a pension fund (where all gains and income within the fund are exempt from tax) and draw from the fund as they choose. If the original owner of the fund died before they were 75 then any income drawn is tax free. If they died after 75 then the beneficiary suffers income tax at their marginal rate. My question is if the original owner died before they were 75 would the German authorities look to tax this income if it were tax free in the UK?
Grateful for any help.
Does anyone have steer on whether the German authorities would want to tax this..... in the UK a beneficiary can now inherit someone's pension fund following the new flex-access rules. This allows them to retain the tax free status of a pension fund (where all gains and income within the fund are exempt from tax) and draw from the fund as they choose. If the original owner of the fund died before they were 75 then any income drawn is tax free. If they died after 75 then the beneficiary suffers income tax at their marginal rate. My question is if the original owner died before they were 75 would the German authorities look to tax this income if it were tax free in the UK?
Grateful for any help.
