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Tax breaks for offshore pensions
10 February 2010
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Many expats living in Spain moved out to enjoy their retirement in the sun, relaxing and enjoying their hard earned pensions. I suspect that for many the concept of a offshore account never really occurred to them, perceiving it to be something for the rich or dodgy.
However a growing number of British expats in Spain are moving their pensions offshore after reform in 2006 allowed long-term expatriates to set up the Qualifying Registered Overseas Pension Scheme (QROPS).
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A key attraction of QROPs is that there is no obligation to buy an annuity, although contributions do not enjoy UK tax relief where the taxpayer is resident outside Britain.
In certain circumstances British expats can borrow from their QROP pension pot, a useful facility when credit is in short supply.
If a pension is received from a UK source, then it is generally liable to UK income tax. However, in many cases, that income can be exempted from UK tax entirely if the pensioner lives in a country which has a double taxation agreement with the UK.
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RT: Tax breaks for offshore pensions http://bit.ly/bnyRkJ #expat, #spain
This comment was originally posted on Twitter
Advice: Tax Breaks For Offshore Pensions – http://bit.ly/9lOV1b
This comment was originally posted on Twitter
Advice: Tax Breaks For Offshore Pensions – http://bit.ly/9lOV1b
This comment was originally posted on Twitter
Advice: Tax Breaks For Offshore Pensions – http://bit.ly/9lOV1b
This comment was originally posted on Twitter
RT @MyAppleStuff: Advice: Tax Breaks For Offshore Pensions – http://bit.ly/9lOV1b
This comment was originally posted on Twitter
i am saving money for my retirement because i want to enjoy most of my time as an old man..-’
as for my retirement, i plan to retire on an asian country and live a quiet and simple life.”.*
when i do get my retirement, i would really love to relax near the beach and enjoy a home on a tropical country -..
Throughout the uk, it does not take financial institution associated with britain ; within swiss, it’s the swiss national bank ; inside the … Intercontinental investors, including huge pension funds, hedge money, and intercontinental …wiek emerytalny w anglii
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