Taxation on UK pensions
Mar 7th 2001, 9:50 am
#1
Married to Sigrid
Thread Starter
Joined: Mar 2001
Location: Newcastle DE
Posts: 47
I will be retired officialy in 3 years time at present i work but also have 2 pensions paid to me which are taxed in uk. I have a US Fiance who i wish to get married to shortly. the pensions will be payable to me continuously but will i be subject to US taxes as well as UK taxes? If any one has experience of this I would appreciate any feed back
Thanks
Brian
Thanks
Brian
Mar 7th 2001, 12:06 pm
#2
Guest
Posts: n/a
Brian
Jim draws a Canadian military pension (the UK and Canada not that different I believe in
terms of taxes). He changed status to non-resident of Canada and they now take out less
tax on his Canadian pension then before. He declares that on his US tax return but because
it is under the $72,000 odd that he is allowed tax free (as long as he pays Canadian tax
on it) it is removed before US tax is calculated. In other words, you just have to show it
as income and deduct it.
Rita
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Jim draws a Canadian military pension (the UK and Canada not that different I believe in
terms of taxes). He changed status to non-resident of Canada and they now take out less
tax on his Canadian pension then before. He declares that on his US tax return but because
it is under the $72,000 odd that he is allowed tax free (as long as he pays Canadian tax
on it) it is removed before US tax is calculated. In other words, you just have to show it
as income and deduct it.
Rita
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Mar 7th 2001, 7:27 pm
#3
Guest
Posts: n/a
Hi Brian,
I've been through all this and there is an agreement between the Inland Revenue in the UK
and the IRS in the USA so that you don't have to pay tax twice. Once you move to the USA
you can decide where to pay tax. The only pension that I know of that MUST be taxed in the
UK is a Crown Pension.
There is a website somewhere with all this information on it. I don't have the URL handy
but I can find it if you want.
Denis
--
Insanity is hereditary, you get it from your kids!
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I've been through all this and there is an agreement between the Inland Revenue in the UK
and the IRS in the USA so that you don't have to pay tax twice. Once you move to the USA
you can decide where to pay tax. The only pension that I know of that MUST be taxed in the
UK is a Crown Pension.
There is a website somewhere with all this information on it. I don't have the URL handy
but I can find it if you want.
Denis
--
Insanity is hereditary, you get it from your kids!
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Mar 3rd 2005, 10:58 am
#4
BE Forum Addict
Joined: Nov 2004
Location: SC
Posts: 4,153
Re: Taxation on UK pensions
I am retired here in the USA. I receive my UK AOP direct into my US Bank every 4 weeks ( 1 month in arrears) in $,s at the basic International dollar rate applicable at the time of transaction. My Uk Company pension is paid into my UK Bank. All income is declared to the IRS. You have to contact the Inland Revenue Tax Office, situated in Bootle, Lancs ( that is where mine was done 2 yrs ago). They then sort it out from there. I can get you the address and telephone number where you can write, speak to or if I remember e-mail them. They are very approachable and will sort it out.
If you want to know how I sort out the UK Pension for tax purposes here then PM me and I will explain.
If you want to know how I sort out the UK Pension for tax purposes here then PM me and I will explain.
