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UK Pension and income drawdown

UK Pension and income drawdown

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Old Apr 16th 2014, 11:45 pm
  #16  
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Default Re: UK Pension and income drawdown

Originally Posted by MMcD
Looking ahead...be sure to get IRS pub. 939 and 575
Yup, I already ordered these two and more online. UPS tell me they're delivering a shipment from IRS tomorrow. Hope it's those publications and not a giant audit package :-)
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Old Apr 17th 2014, 12:31 am
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Default Re: UK Pension and income drawdown

Originally Posted by malch
Yup, I already ordered these two and more online. UPS tell me they're delivering a shipment from IRS tomorrow. Hope it's those publications and not a giant audit package :-)
UPS?
A shipment?
Crikey....no wonder the gov't is in a financial straitjacket
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Old Apr 18th 2014, 4:34 pm
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Default Re: UK Pension and income drawdown

You will already be declaring the funds to the Treasury on your FBAR and to the IRS on Form 8938 and are presumably filing a Form 8833 annually to make an 18(1) claim and escape tax on growth.

The UK will permit you to take 100% rather than 25% from next year if you wish.
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Old Apr 18th 2014, 4:44 pm
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Default Re: UK Pension and income drawdown

Originally Posted by Cook_County
You will already be declaring the funds to the Treasury on your FBAR and to the IRS on Form 8938 and are presumably filing a Form 8833 annually to make an 18(1) claim and escape tax on growth.

The UK will permit you to take 100% rather than 25% from next year if you wish.
Though only 25% will still be tax-free (under UK tax law, I mean, US is a different kettle of fish). But yes, you will soon be able to take it all in cash, under the new Lamborghini Law.
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Old Apr 18th 2014, 5:13 pm
  #20  
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Default Re: UK Pension and income drawdown

Originally Posted by Cook_County
You will already be declaring the funds to the Treasury on your FBAR and to the IRS on Form 8938 and are presumably filing a Form 8833 annually to make an 18(1) claim and escape tax on growth.

The UK will permit you to take 100% rather than 25% from next year if you wish.
Originally Posted by dunroving
Though only 25% will still be tax-free (under UK tax law, I mean, US is a different kettle of fish). But yes, you will soon be able to take it all in cash, under the new Lamborghini Law.
Wow! Hindsight is foresight....coulda, woulda, shoulda....but then 2 years ago, who knew (well, I didn't).
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Old Apr 18th 2014, 5:24 pm
  #21  
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Default Re: UK Pension and income drawdown

Originally Posted by Cook_County
You will already be declaring the funds to the Treasury on your FBAR and to the IRS on Form 8938 and are presumably filing a Form 8833 annually to make an 18(1) claim and escape tax on growth.

The UK will permit you to take 100% rather than 25% from next year if you wish.
I don't think the 8833 is required. No harm in filing one, but it's not necessary.
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Old Apr 18th 2014, 5:29 pm
  #22  
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Default Re: UK Pension and income drawdown

Originally Posted by MMcD
Wow! Hindsight is foresight....coulda, woulda, shoulda....but then 2 years ago, who knew (well, I didn't).
It's pretty astounding they managed to keep it from, well, almost everyone until the grand unveiling. That's pretty unusual considering the social media and that if PMQ's is anything to go by, most politicians have the self-control of a 11-year old fag at Eton.
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Old Apr 18th 2014, 5:57 pm
  #23  
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Default Re: UK Pension and income drawdown

Originally Posted by dunroving
It's pretty astounding they managed to keep it from, well, almost everyone until the grand unveiling. That's pretty unusual considering the social media and that if PMQ's is anything to go by, most politicians have the self-control of a 11-year old fag at Eton.
Still...don't cry over spilt milk...Sing instead, for what might have been:

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