British Expats - Search Results
British Expats

Go Back  British Expats > Search Forums
Reload this Page >

Search Results

Register
FAQ
Wikiposts
Today's Posts
Search
Vendor Directory
Search: Posts Made By: Paul Bradley
Showing results 1 to 12 of 12
Search took 0.03 seconds.
Forum: Canada
Jul 29th 2012, 8:30 pm
Replies: 11
Views: 14,969
Posted By Paul Bradley

Re: Canadian and British Pensions, Can you claim both?

Hi Andy,

It looks like you have already had some good guidance - I want to give you extra detail about your UK State Pension entitlement; it will not be reduced on the basis of any Canadian...
Forum: Canada
Jun 22nd 2012, 6:46 pm
Replies: 41
Views: 5,924
Posted By Paul Bradley

Re: UK Pension Transfer to Canada

Hi there thompson_p,

It sounds like you want to take control of this process yourself, so I will try to provide as much relevant information to help you as possible:

(1). The QROPS...
Forum: Canada
Jun 8th 2012, 4:42 pm
Replies: 25
Views: 5,164
Posted By Paul Bradley

Re: HMRC PENALTIES

Hi Tangram,

Upon retirement the withdrawals (and tax) would follow the Canadian system (and Canadian income tax). Compliance with the UK system is to avoid additional UK tax penalties.

You are...
Forum: Canada
Jun 8th 2012, 4:32 pm
Replies: 25
Views: 5,164
Posted By Paul Bradley

Re: HMRC PENALTIES

Just looking at the figures again... as MJ Walker posted - the main point on the tax is that it becomes a vicious cycle: withdrawing more to pay the tax results in more tax!

Much better to try to...
Forum: Canada
Jun 8th 2012, 4:17 pm
Replies: 25
Views: 5,164
Posted By Paul Bradley

Re: HMRC PENALTIES

Lancashirelady,

From reading the previous posts you have clearly considered your options and are only considering your retirement resources as a last resort. As others have said, your pension is a...
Forum: Canada
Jun 2nd 2012, 12:42 pm
Replies: 25
Views: 5,164
Posted By Paul Bradley

Re: HMRC PENALTIES

Hi jericho,

Hopefully my original post provided some clarity on exactly which circumstances HMRC may levy an unauthorised payment tax charge and how the tax charge interacts with any Canadian tax...
Forum: Canada
Jun 2nd 2012, 9:55 am
Replies: 25
Views: 5,164
Posted By Paul Bradley

Re: HMRC PENALTIES

Hi Joandmarti,

I am a specialist in this area and have received an email directly from a senior specialist in HMRC (UK Tax authority) which outlines the situation. I have taken the text from the...
Forum: Canada
May 29th 2012, 8:08 pm
Replies: 14
Views: 2,126
Posted By Paul Bradley

Re: Restriction on funds transferred to a QROP

Whilst the UK tax implications have not changed it has become more important to understand the detail: withdrawals are reported to HMRC for 10 years from the date of transfer.

Previously QROPS...
Forum: Canada
May 29th 2012, 7:00 pm
Replies: 14
Views: 2,126
Posted By Paul Bradley

Re: Restriction on funds transferred to a QROP

Hi Sranuta,

That isn't quite how it would work:

Income from your QROPS is taxed under the Canadian system.

Any UK tax would be a tax penalty (unauthorised payments charge and potentially an...
Forum: Canada
May 28th 2012, 8:07 pm
Replies: 14
Views: 2,126
Posted By Paul Bradley

Re: Restriction on funds transferred to a QROP

Hi sranauta,

Unfortunately the 10 year rule JonboyE and others have referred to came into effect on 6th April 2012.

The rule is the first major change in British overseas pension legislation...
Forum: Canada
May 28th 2012, 12:03 am
Replies: 6
Views: 965
Posted By Paul Bradley

Re: Financial Advice

Thanks Novocastrian!
Forum: Canada
May 27th 2012, 11:57 pm
Replies: 6
Views: 965
Posted By Paul Bradley

Re: Financial Advice

Hi gungamunga,

For the house, as well as the tax (which Novocastrian has outlined) you should consider your life intentions:
Do you want to retain the flexibility to move back to the UK in the...
Showing results 1 to 12 of 12


 
Forum Jump

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.