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Thanks for the response. In my situation, I moved back to the UK about 10 years ago and so the pension fund in Canada has grown. If the fund is sold and brought to the UK (after paying witholding tax in Canada), is the increase in value of the funds treated by HMRC as a Capital Gain or as Income ?
Thank you, ***** ***** the pension is Canadian, I presume the UK 25% tax free rule would not apply. Even if it does, am I right that closing the fund and accessing the total proceeds (minus the 25% wh tax) would be an act of crystalising and the funds brought into the UK (either as annuity or as a single transfer) would be deemed as income and taxed at my marginal rate ?