How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

Hallo, Ive been living in Germany years, i have a private

Customer Question

Ive been living in Germany for 30 years, i have a private penson insurance,
It will pay out a lump. Sum of £150.00 in april 2016 tax free.
If i retunn to the uk, in 2016, and transfer the monies to my bank acount
In the uk, will this be taxed ???
If so can i leave the Money in germany , to aviod the capitial gains tax,
Or as becomming a uk resident must i pay the tax, weather i stay in Germany
or i return to the uk ???
This is my life savings , to buy myself a house for retierment ,
Submitted: 1 year ago.
Category: Tax
Expert: replied 1 year ago.
Thank you for your question.Transfer of savings would not be taxed in the UK if you decide to move into the UK and make UK your home and become a UK resident.UK residents are taxed on their worldwide income and gains made in the year.You will be remitting into the UK your capital as you would have received this money well before you come to the UK.More information on tax implications when you come to teh Uk and become a UK resident are coverd on Page 43 of RDR1 here I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.