Tax Implications in UK on Australian Superannuation funds.

Koala24

We are returning to retire in UK after 30 years in Australia.
What are the tax implications in UK if we transfer some or all of our Australian Superannuation funds to UK, either as a lump sum or an income stream?

JoeCrystal

What does your research so far say about your questions?

penners324

Qrops transfer?

xylophone

https://atlaswealth.com/uk/news/australian-expats-retiring-in-the-uk-and-drawing-income-from-australian-superannuation/#:~:text=UK Taxation on Foreign Pensions,to reduce the taxable amount.

May be worth a read.

Do you have any UK state pension?

https://www.gov.uk/new-state-pension/living-and-working-overseas

squashtraveller

Koala24 said:

We are returning to retire in UK after 30 years in Australia.
What are the tax implications in UK if we transfer some or all of our Australian Superannuation funds to UK, either as a lump sum or an income stream?

We have also considered this issue although we are resident in the UK (for tax purposes). As I understand the situation, if you take your super as a lump sum BEFORE you become resident in the UK, there are no UK tax implications. You would also be allowed to remit the money to the UK withouth UK tax. However, once you are resident in the UK (ie for tax purposes) then you would be subject to UK tax both on the lump sum and/or any annuity (pension) you take from the fund. Best to get correct advice from an accountant familiar with UK tax law before you move or become UK resident. see here for relevant questions: https://community.hmrc.gov.uk/customerforums/pt/71f3d477-d1a4-ea11-8b71-00155d977d2f