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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4203
Experience:  FCCA FCMA CGMA ACIS
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During my time working overseas I was paid from the USA, and

Customer Question

During my time working overseas I was paid from the USA, and a portion of my income went into a pension fund in the USA. I have not paid into the fund since I returned to the Uk in 2013. If I transfer the fund to my UK bank account, will I be liable for tax on it?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Presuming that your time in the US was over 5 tax tears then there should be no problem. HMRC give the following advice: 'If you return to the UK within 5 years You may have to pay tax on your foreign income or gains you brought into the UK while you were non-resident. This doesn’t include wages or other employment income.' As your contribution to the US pension fund were out of your wages or other employment income this transfer should avoid UK taxation also. You should warn your bank of the incoming moneys to head off ant money laundering queries. I do hope my reply has been of assistance.
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Expert:  bigduckontax replied 2 years ago.
Thank you for your support.