News

The ultimate freedom

News
01 FEB 2021
The ultimate freedom
If you move to sunny Portugal. It could be possible to take your UK pension and pay absolutely no tax on it for the first 10 years.This applies even if you withdraw large sums, a move which in the UK could attract crippling tax charges, as such withdrawals are treated and taxed as ordinary income. Does this sound too good to be true?

To benefit from these rules, retired people would have to plan the move carefully and make sure they meet strict residence criteria both in Britain and their new destination country. And advice from a professional who has experience with the taxation laws of the country to which you intend to move is a must. But with careful planning and advice, the end result could be a transformed retirement - and a large tax saving.