British Pakistanis and British Expats in Pakistan - Avoid Taxes through QROPS
- 11 years ago
http://www.qropsspecialists.com/qrops-pakistan-british-pakistanis/
British Pakistanis who decide to retire in Pakistan or British expats who are moving or retiring to Pakistan can now take advantage of HMRC pension regulations which allow you to move your pension to a QROPS to avoid UK taxation. That means no more 55% tax upon death and no more UK income taxes of up to 50%.
You can move your pension offshore to Malta, a former British colony, but now an EU member state. Because the EU allows freedom of movement of labour and capital, your pension will be allowed to be moved to Malta and out of the UK tax net. Because Pakistan has a Double Taxation Agreement with Malta, your pension will grow and be paid out tax free.
This is great news for British Pakistanis and Pakistanis who have worked for a long time in the UK and have decided to retire in Pakistan. Especially for doctors or high salaried workers who may have worked in the UK and built up a substantial pension. Note this is for transfers of private pensions and final salary pensions not UK state pensions.
British Pakistanis who decide to retire in Pakistan or British expats who are moving or retiring to Pakistan can now take advantage of HMRC pension regulations which allow you to move your pension to a QROPS to avoid UK taxation. That means no more 55% tax upon death and no more UK income taxes of up to 50%.
You can move your pension offshore to Malta, a former British colony, but now an EU member state. Because the EU allows freedom of movement of labour and capital, your pension will be allowed to be moved to Malta and out of the UK tax net. Because Pakistan has a Double Taxation Agreement with Malta, your pension will grow and be paid out tax free.
This is great news for British Pakistanis and Pakistanis who have worked for a long time in the UK and have decided to retire in Pakistan. Especially for doctors or high salaried workers who may have worked in the UK and built up a substantial pension. Note this is for transfers of private pensions and final salary pensions not UK state pensions.