I have a pension policy in the UK which I took out before I moved to Finland. Under new UK rules which came in this April I could withdraw the cash value now rather than leave it in place till I retire. If I were still resident in the K I could take 25% of the cash tax-free and pay tax on the rest. (I don't know if/how that changes with me living in Finland).
What is the situation re Finnish tax? Would I pay Finnish tax on any of the money? On the portion that is tax-free in the UK? On all of it?
Tax when cashing in a pension
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betelgeuse
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- Joined: Thu Aug 29, 2013 1:24 am
Re: Tax when cashing in a pension
You would need to consult the UK Finland tax treaty. There are many types of pension policies so I assume the type of the scheme can be relevant so you might want to expand here.DMC wrote:I have a pension policy in the UK which I took out before I moved to Finland. Under new UK rules which came in this April I could withdraw the cash value now rather than leave it in place till I retire. If I were still resident in the K I could take 25% of the cash tax-free and pay tax on the rest. (I don't know if/how that changes with me living in Finland).
What is the situation re Finnish tax? Would I pay Finnish tax on any of the money? On the portion that is tax-free in the UK? On all of it?