Pension payouts

My client lived in Belgium for 15 years and has some rights under company defined contribution pensions there which will be payable in less than two years when he reaches age 65.

Belgium does not have an annuity system (there is no requirement to buy an annuity by any age) and pensions are simply paid out as lump sums. All of these facts are as given to me by my client. In his case payout will amount to between £50 000 and £100 000 and he intends to transfer those amounts to the UK.

I would very much like some advice as to the tax implications for his UK tax return. I should add that he is UK domiciled resident and ordinarily resident in the UK as his period in Belgium was many years ago.

Readers’ views would be appreciated.

Query 17 909 – Russell Sprout

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