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LGPS and HMRC
Paul_255
Posts: 20 Forumite
If you are a EU citizen (58 currently but will retire in 7 years) who has lived / worked all their live in the UK but intends to retire in the EU what will their UK tax look like.
e.g Your LGPS pension is £25,000 , your UK pension is £9,100 and you have lettings income of £15,000.
Let us assume that you are living in a EU country that has a "double taxation agreement" with the UK and that country has a more beneficial taxation rate than UK.
Given that all UK civil service pensions will always be taxed in the UK then the LGPS pension of UK will be taxed in the uk ???
Will you receive a UK personal allowance and be taxed as if your UK income is £25,000. ??
Will the lettings income be taxed in the UK or in the country of residence. ??
Will the state pension be taxed in the UK or in the country of residence. ??
What is the name of the EU country that you should be living in.
As I type this I realise this is more a taxation question than a LGPS question but I cannot see a taxation forum.
e.g Your LGPS pension is £25,000 , your UK pension is £9,100 and you have lettings income of £15,000.
Let us assume that you are living in a EU country that has a "double taxation agreement" with the UK and that country has a more beneficial taxation rate than UK.
Given that all UK civil service pensions will always be taxed in the UK then the LGPS pension of UK will be taxed in the uk ???
Will you receive a UK personal allowance and be taxed as if your UK income is £25,000. ??
Will the lettings income be taxed in the UK or in the country of residence. ??
Will the state pension be taxed in the UK or in the country of residence. ??
What is the name of the EU country that you should be living in.
As I type this I realise this is more a taxation question than a LGPS question but I cannot see a taxation forum.
0
Comments
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LGPS isn't civil service though.
Are you asking which country you should live to pay the least tax?
0 -
The first question is how much taxation will I have to pay in the UK.
It is my understanding that I will still have to pay uk tax but I don't know how much of my income will be UK taxed.
The second question is which country should I move to and how much of my income will be taxed there and at what rate.
0 -
Hi Dazed and Confused
Thanks for your comments.
The LGPS is a statutory public service scheme, so the scheme's benefits and terms are set out in regulations passed through parliament.
Is there a difference between civil service scheme and public service scheme.??
This is my main concern and If the LGPS in not UK taxed that will change my calculations significantly
Matthew
0 -
LGPS pension is always taxed in the UK
rental income is always taxed in the Uk.
I also think you may lose your personal allowance if you are non resident in UK ??0
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