Need a financial adviser familiar with UK & Aus taxation
#1
Just Joined
Thread Starter
Joined: Oct 2011
Location: Maclean NSW
Posts: 13
Need a financial adviser familiar with UK & Aus taxation
I've lived and worked (now an early retiree) in Oz since 1988, My wife came out on a spouse visa in 2004 and was granted citizenship in 2007. I'll be eligible for the Aussie Seniors payment as well as a part UK pension as will my wife as we've contributed to Nat Ins for 18 & 22 years.
Our assets aren't enough to affect the means test and our UK pensions might but not by a great amount and of course with the current rules our UK pensions will diminish over time in real terms. The joker in the pack for me is I also have a private pension fund with Aviva which started out life as a company pension but which I had transferred to a fully paid up scheme in 1988 known as a 'section 32' buyout.
This personal pension with declared bonuses will pay out a minimum £175k, it should be more assuming they come good with their promise of a final bonus on maturity, but it's not guaranteed.
The options as I understand it is to :-
Leave it in the UK and take lump or regular payments over 10 or so years and declare it here as an income for tax purposes.
Or pay a QROPS broker to transfer it to a Super fund here, accept that 15% Super contributions tax will be lost on the bulk of the funds as the original transfer value was only £13k.
What I really need is some referrals to financial advisor(s) who are familiar with taxation and pensions both UK and here. Please inbox, email me or post a response here if you can help or know something about these things - Thanks.
Our assets aren't enough to affect the means test and our UK pensions might but not by a great amount and of course with the current rules our UK pensions will diminish over time in real terms. The joker in the pack for me is I also have a private pension fund with Aviva which started out life as a company pension but which I had transferred to a fully paid up scheme in 1988 known as a 'section 32' buyout.
This personal pension with declared bonuses will pay out a minimum £175k, it should be more assuming they come good with their promise of a final bonus on maturity, but it's not guaranteed.
The options as I understand it is to :-
Leave it in the UK and take lump or regular payments over 10 or so years and declare it here as an income for tax purposes.
Or pay a QROPS broker to transfer it to a Super fund here, accept that 15% Super contributions tax will be lost on the bulk of the funds as the original transfer value was only £13k.
What I really need is some referrals to financial advisor(s) who are familiar with taxation and pensions both UK and here. Please inbox, email me or post a response here if you can help or know something about these things - Thanks.
#2
Forum Regular
Joined: Dec 2011
Posts: 193
Re: Need a financial adviser familiar with UK & Aus taxation
Try Andrew Williams at Vista.Financial Services. He deals with the ATO and has worked with UK advisers.
#4
Re: Need a financial adviser familiar with UK & Aus taxation
Alan is GM Tax I think. You can google.
#5
Just Joined
Thread Starter
Joined: Oct 2011
Location: Maclean NSW
Posts: 13
Re: Need a financial adviser familiar with UK & Aus taxation
Thanks for responses.
#7
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: Need a financial adviser familiar with UK & Aus taxation