Draft Finance Bill 2017: Overseas pensions

Published on 23 January 2017

While LITRG recognises that removing the '90% rule' for taxing foreign pension income in the UK is intended to be a fairness measure and simplify the system, we wish to highlight that those in receipt of a foreign pension are unlikely to view it as such, imposing as it would an additional tax cost on them. For those in receipt of tax credits it will also result in a reduction in their entitlement – a direct reduction in their income, irrespective of whether or not they are a taxpayer.

Finance Bill 2017 draft clauses: Overseas Pensions
©istock/Egorych

The LITRG submission can be found here: Draft Finance Bill 2017 clause 11 schedule 3: Overseas Pensions – LITRG response

(19-01-2016)

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