I have just received a letter from a previous employer in the UK saying that I may be receiving a offer of a cash lump sum in the forthcoming months.
This is a small pension as I only worked for the company for 2 years in the early 2000,s.
I understand that the fund is currently worth around 11,000 GBP and on retirement in 2022 I would be entitled to a pension of 802.79 GBP.
Obviously I do not know what the offer will be yet but would a lump sum if taken be taxable as I live in Ireland but the pension resides in the UK. Would there be a tax liablity in both UK and Ireland?
Any advice would be greatly appreciated.
This is a small pension as I only worked for the company for 2 years in the early 2000,s.
I understand that the fund is currently worth around 11,000 GBP and on retirement in 2022 I would be entitled to a pension of 802.79 GBP.
Obviously I do not know what the offer will be yet but would a lump sum if taken be taxable as I live in Ireland but the pension resides in the UK. Would there be a tax liablity in both UK and Ireland?
Any advice would be greatly appreciated.