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I am 66 years old, and worked shipping company and

Customer Question

I am 66 years old, and worked for irish shipping company and have (company) offshore pension fund through Jersey brokers. ( policy is a Zurich one). I am told there is no Jersey tax liability , but want to know if I can still take out the 25% lump sum tax free into uk ? (And then purchase annuity with balance.)
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and happy to be able to help you with your question.
Providing this pension scheme is registered as a Qualifying Recognised Overseas Pension Scheme (QROPS) with HMRC, which with a firm like Zurich is highly likely, then you can access 25% tax free and invest the balance in an annuity.
I do hope that you find my reply of assistance.
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3612
Experience: FCCA FCMA CGMA ACIS
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Expert:  bigduckontax replied 1 year ago.
Thank you for your support.

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