Hi, Lving in Ireland i can take a 25 % tax free lump sum from a uk pension now, but will pay tax here on it here ,any way working out percantage of tax i will pay?
thanks
Hi, Lving in Ireland i can take a 25 % tax free lump sum from a uk pension now, but will pay tax here on it here ,any way working out percantage of tax i will pay?
thanks
The Finance Act 2022 introduced definitive legislation to cover the taxation of retirement lump sums from foreign pensions for the first time. The change means that a lump sum taken by an Irish resident from a foreign pension arrangement will now be treated in the same way as a domestic pension, counting against their normal pension lump sum limits where the first €200,000 is tax free and the next €300,000 is taxed at 20%.