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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15946
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have lived in Singapore for 6 years as an expat, my salary

Customer Question

I have lived in Singapore for 6 years as an expat, my salary paid from Geneva Switzerland in to my UK bank account. I have just been made redundant for which I have now a company pension plan which is due to be paid out which is in AXA based in Luxembourg. Can I have this paid in to my UK account without a tax threat. I do not intend to return to the UK.?


Best Regards

Patrick Nicholls
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.
Hi.

There will be no UK tax problem for you if you have your pension plan payout plan paid into your UK bank account.

Whether you are liable to UK tax or not is dependent on your tax residency status and not on where you keep your money. You might suffer tax on UK bank deposit interest as that is a UK based source of income whereas the salary you have had paid into your UK bank account is not a UK source of income and nor will the pension plan payout be a UK source of income.

Take a look at the notes on UK tax residency here and here for information on the criteria which influence your UK tax residency status.

I hope this helps but let me know if you have any further questions.
Expert:  TonyTax replied 3 years ago.
A point of clarification.

I should have said in my answer that your salary was not from a UK source of income and nor will the pension payout be from a UK source of income as opposed to "is not a UK source of income".
Expert:  TonyTax replied 3 years ago.
Hi again.

It's been a few days since I answered your question. Is there anything you need further clarification on?