Does anyone know why ROS calculates different tax for a USA pension versus a USA annuity?
I was doing "what if" on ROS. There is a box for foreign pension (including UK pensions] which gives a much higher tax liability than if I put the amount into annuities.
After all, my pension is an annuity that my ex-employer bought rather than one I bought.
Also, I thought UK income was handled differently than US income - isn't it considered as similar to Irish income - wrong?
I am resident and not domiciled so taxed on a remittance basis.
Thanks.
I was doing "what if" on ROS. There is a box for foreign pension (including UK pensions] which gives a much higher tax liability than if I put the amount into annuities.
After all, my pension is an annuity that my ex-employer bought rather than one I bought.
Also, I thought UK income was handled differently than US income - isn't it considered as similar to Irish income - wrong?
I am resident and not domiciled so taxed on a remittance basis.
Thanks.