Pesions

heatherunited

Now this is going to sound odd but we are planning on selling up and going abroad. Now I recieve a small pension im 57 and they even tax that. Hubby is only 45 and has put alot into his pension around £150 a month for 20 years. Now I think I know the answer but he doesnt want a lump sum just so much per week and were aware it wont be much, can this be done at 45? It's just a little extra cash if we move. Ty all

heatherunited

One other thing is if we move to spain will they still tax the pension?

xylophone

I recieve a small pension im 57 and they even tax that.

Because your total annual non-savings income is over your Personal Allowance?

http://www.pensionsadvisoryservice.org.uk/about-pensions/when-things-change/moving-abroad

dunstonh

Unless he has a very rare pension with a protected scheme age, he cannot access his pension until age 55 at the earliest.

xylophone

Re tax on UK income

https://www.gov.uk/tax-uk-income-live-abroad/taxed-twice

xylophone

Re "Protected Pension Age"

http://www.pruadviser.co.uk/content/knowledge/technical-centre/protected_early_pension_age/

kidmugsy

It's said that Portugal has generous laws on the taxing of foreigners' pensions. Well, generous for the foreigners.

jamesd

Yes, foreigners in Portugal can opt in to a scheme which has zero income tax on foreign pension income. The tax treaty with Britain means that there would be no UK income tax either.