What tax is payable on a UK flexible drawdown pension in the US? Video explores the taxation of UK flexible drawdown pension lump sums for USA residents with UK pension.
We are UK authorised advisers and not authorised to give US tax or financial planning advice. We handle the UK pension and Tax side but you will need to take advice locally in the US before any actions with your pensions are taken.
US/UK Tax Treaty
BUT
After any 25% Tax Free Lump Sum, HMRC CLASSES FLEXIBLE PENSION DRAWDOWN AS LUMP SUM WITHDRAWALS AND NOT PENSION INCOME AND SO TAXES IT IN UK under 17.2. HMRC does not issue an NT (nil tax in UK) code for Flexible Pension Drawdown.
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