Overseas Pension

jhalsall

Whilst working overseas in the UAE from 2000 to 2011 my company set up an 'overseas' pension scheme administered in Jersey. The company (local to UAE) and I contributed to my pension fund. I stopped contributing when I left the country and moved to China.
I continued to be Tax non-resident until 2022 when i started a job in the UK and I am now on PAYE. 
I now have to encash this Pension as i am the sole member of the fund and the company who is the trustee will not pay the management fees.
I understand that any benefits up to 2017 from Overseas Pension funds are not subject to Tax. Is this correct?

Bostonerimus1

Take a look at the UK/Jersey tax treaty. Under the usual rubric of these treaties the income taken from the pension will be taxed wherever you are tax resident. There might be exceptions for government pensions and some treaties recognize tax free status in both countries. I suggest you start with the presumption that the UK will tax your pension and get some professional advice.

BridgetTheCat

jhalsall said:

I understand that any benefits up to 2017 from Overseas Pension funds are not subject to Tax. Is this correct?

Where did you hear that? Source? Because I don’t think it’s correct.

Gary1984

You need a specialist advisor. 

Marcon

jhalsall said:

Whilst working overseas in the UAE from 2000 to 2011 my company set up an 'overseas' pension scheme administered in Jersey. The company (local to UAE) and I contributed to my pension fund. I stopped contributing when I left the country and moved to China.
I continued to be Tax non-resident until 2022 when i started a job in the UK and I am now on PAYE. 
I now have to encash this Pension as i am the sole member of the fund and the company who is the trustee will not pay the management fees.
I understand that any benefits up to 2017 from Overseas Pension funds are not subject to Tax. Is this correct?

As a general statement, no. I wonder where that belief came from - someone qualified to advise on the particular overseas scheme in question?

There were changes in the tax situation from April 2017: https://www.gov.uk/government/publications/pension-tax-for-overseas-pensions-additional-information/pension-tax-for-overseas-pensions-additional-information 

You need advice relating to your particular scheme.

jhalsall

Thanks all for the comments, I will be taking specialist advice. One or two have questioned where I made the 'assumption'.
This is taken from HMRC's website

If before 6 April 2017 a member accrued rights specifically to be paid as a lump sum then, to the extent that the lump sum is referable to those pre-6 April 2017 rights, the lump sum will not be taxable. In this context where the member had the choice to be paid pension rights as either a pension and/or a lump sum this is not a specific provision for a lump sum.