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401(k) and UFPLS
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John_D_P
Posts: 1 Newbie
I am retired UK citizen and resident. I file my income to HMRC by self assessment.
I used to be long time resident of USA and built up retirement savings in a 401(k) from which I withdraw lump sums when I need the income, transferring the cash to the UK as income.
Can rules of UFPLS be applied in UK to my 401(k) lump sums received and allow me to claim them as 25% Tax free?
I used to be long time resident of USA and built up retirement savings in a 401(k) from which I withdraw lump sums when I need the income, transferring the cash to the UK as income.
Can rules of UFPLS be applied in UK to my 401(k) lump sums received and allow me to claim them as 25% Tax free?
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Comments
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Can rules of UFPLS be applied in UK to my 401(k) lump sums received and allow me to claim them as 25% Tax free?
UFPLS applies to UK registered pension schemes. It does not apply to pensions from other countries.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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