You are here: Forum > Living in Europe > Monaco > Tax > Monaco UK expats with UK pensions. Action required?
  Register and reply  

Monaco UK expats with UK pensions. Action required?


#1  2012-01-10 08:45:44

Cradle Matt
New member
Registered: 2012-01-09
Posts: 1

Monaco UK expats with UK pensions. Action required?

From April 6th 2012, HMRC are amending the rules with regards to transfers of uk pensions to overseas schemes. One of the biggest effects will be the closer monitoring of individuals who are living in low tax environments such as Monaco.

It may be more difficult to obtain tax free withdrawals from an overseas scheme post April (although not impossible), and HMRC will know about these withdrawals made. In order to ensure the tax free status of any withdrawal (which is not reportable to HMRC), which for example could be 50% of any pension fund from a regulated EU pension; any transfer to an overseas scheme, and payment needs to be completed by 5/4/2012.




 
 
 
 

  • Offline

#2  2012-01-10 10:06:12

Armand
Team
Armand
From: Ile Maurice / Mauritius
Registered: 2011-02-23
Posts: 21577

Re: Monaco UK expats with UK pensions. Action required?

Hi and welcome to the forum Cradle Matt!

Thanks for sharing.

Armand




 

Like us on Facebook | Follow us on Twitter !
  • Offline

#3  2013-01-17 15:53:48

Marieexpat
New member
From: Monte Carlo
Registered: 2013-01-17
Posts: 1

Re: Monaco UK expats with UK pensions. Action required?

Hi there,

Great to see this topic being discussed. I am moving to Monaco with my partner who has got a new position there I have a small UK Legal and General Pension scheme. I would like to put this into a new scheme in Monaco when I get a job. If we were to leave again in a number of years (which I am sure will be the case), do you know if I would be able to take it out of the Monaco scheme?

Thank you so much for your assistance.

Kind regards,

Marie

  • Offline
Like this topic? Share it with your friends!


Expatriate health insurance Monaco

Free advice and quotation service to choose an expat health insurance in Monaco.
>> Click here

Moving to Monaco

A few tips from professionals about moving to Monaco.
>> Click here

Expat banking Monaco

Discover the benefits of expat banking for people living and working abroad.
>> Click here

Businesses and services in Monaco

Find the professionals in Monaco in the Expat blog directory.
>> Click here

Luggage shipping Monaco

Useful information about luggage shipping to Monaco.
>> Click here

Travel insurance Monaco

Don't worry and travel happy across Monaco.
>> Click here

To
Subject *
Message *
   You are here: Forum > Living in Europe > Monaco > Tax > Monaco UK expats with UK pensions. Action required?