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Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
Please expand on the DB pension. Who pays it and in what country?
From the tenor of your question you will almost certainly be tax resident in the UK and have to render self assessment tax returns annually. As a citizen of an EEA country you are entitled to a Personal Allowance (PA) of 11.5K to offset this. Property rentals are invariably taxed in country of origin and in any event you may find yourself liable to tax in Portugal also and have to rely on the Double Taxation Convention between the UK and Portugal to protcect you. This precludes the same income stream being taxed in both jurisdictions. This is done by means of tax credits, the tax paid in one country being allowed as a credit against liabilities in the other. The Convention, however, does not protect you from differences in rates of taxation.
The only effective method of tax reduction available to you is to make contributions to a private pension plan. You already have a SIPP so that should be easy. There is now a maximum contribution level of 40K pa including your employer's element, if any.
I do hope that you have found my reply of some assistance.
I have just looked it up, PwC are very keen on it! Remember this is essentially an UK tax advice site.
With a tax rate on 20% under the scheme Portugal equates to the UK unless you are in higher rates tax.
Thank you for your support.
Whichever way this tax cat jumps you will have to self assess in the UK.