Cashing in UK pension from Canada advice please
May 30th 2016, 2:58 pm
#1
Forum Regular
Thread Starter
Joined: Dec 2008
Posts: 224
Cashing in UK pension from Canada advice please
So was thinking of cashing it in and paying some off my mortgage but they say I have to get a IFA who is registered in England to fill in the forms went to the web site they gave me but none are interested because I am in Canada and they want to re invest it and take a cut.
Problem two is tax I have to fill in a form and send it to revenue Canada so I don't have to pay UK tax but will still have to pay Canada tax
Does anyone know how much or is it just added to my yearly earnings and I have to pay the higher tax band
If anyone has any advice please
Problem two is tax I have to fill in a form and send it to revenue Canada so I don't have to pay UK tax but will still have to pay Canada tax
Does anyone know how much or is it just added to my yearly earnings and I have to pay the higher tax band
If anyone has any advice please
Jul 15th 2016, 7:40 pm
#2
Forum Regular
Joined: Aug 2004
Posts: 211
Re: Cashing in UK pension from Canada advice please
Just dealt with a company that has moved my 3 uk pensions off shore, PM for more info if you interested.
Jul 15th 2016, 7:52 pm
#3
Just Joined
Joined: Jul 2016
Posts: 2
Re: Cashing in UK pension from Canada advice please
Planning to do this for my parents, but from Canada, any ideas?
Jul 15th 2016, 8:01 pm
#4
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: Cashing in UK pension from Canada advice please
It is just added to your income and you pay tax at your marginal rate. The amount could easily push you into higher tax bands.
