UK Pension Transfers Hit With 25% Tax Charge

QROPS Tax Charge

British expats living abroad and foreign nationals based in the UK face being stung by a new 25 per cent tax charge if they move their pensions out of the UK.

New rules, which came into effect on 9 March, 2017 after being announced in the 2017 UK Spring Budget, will see the charge levied when retirement funds are transferred outside the UK, unless they meet strict criteria.

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