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Forum: USA

Mar 13th 2018, 7:15 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

It’s a shame that some members of this board are not open to discussion but prefer to enforce their views on the rest of us without the back up of accurate knowledge. I do not intend to make a career...

Forum: USA

Mar 13th 2018, 5:10 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

Confusing or not. The question remains.... is the 25% of our hard earned pension pot taxable in the USA? I don’t think we yet have a definitive answer?

Forum: USA

Mar 12th 2018, 11:54 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

I’m not sure if it would be different as you are a U.K. resident. This topic is mainly for US residents who were previously U.K. residents. Fun isn’t it!

Forum: USA

Mar 12th 2018, 11:40 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

You declare all your income for US taxes. This discussion is about whether the pension 25%,so called lump sum in the UK, is taxed or not?

Forum: USA

Mar 12th 2018, 10:57 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

I too thought that was the way to go. I’m now seeing several people also think that if the payments are tax free in the UK they should also be tax free in the US. I cannot afford to hire a tax...

Forum: USA

Mar 12th 2018, 10:37 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

I not sure why everyone is so hung up on the term lump sum? Pension is pension and in the U.K. we are entitled to 25% tax free if we take it as either one amount or several up to that limit. As a US...

Forum: USA

Mar 12th 2018, 10:08 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

It just seems unfair to pay additional tax to the IRS if we don’t need to. For me it’s several hundred dollars a year that could be in my pocket not theirs. It’s a pity no one seems to have a...

Forum: USA

Mar 12th 2018, 9:59 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

Does that mean you are paying US tax on each pension payment? Of course that is an option but I think the treaty was written to protect our pensions even though we are no longer in the U.K.?

Forum: USA

Mar 12th 2018, 9:51 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

I have been researching this for several years and seen most of the replies that suggest it IS taxed. I’m also convinced that it should NOT be in the spirit of the reason for the tax treaty which...

Forum: USA

Mar 12th 2018, 9:41 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

As I am sure you know this is the hard part! How do I get a response from the IRS without legal help? The 25% I mentioned was figurative to show that these amounts are part of the tax free portion....

Forum: USA

Mar 12th 2018, 7:35 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

I am a US citizen. I’m not sure I agree with your answer. This article refers to 17 2 which is a lump sum. I am not taking a lump sum I am taking smaller amounts which are classified under clause 17...

Forum: USA

Mar 12th 2018, 6:18 pm

Replies: 112

Views: 64,246

Posted By Desertsun2018

Re: UK Pensions related to UK/US Tax Treaty

Hi. I also would like to know the answer to the 25% tax free question. I just started taking amounts from Pension lump sum commencement not taxed in U.K. I have been told these amounts are NOT...

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