A SIPP for non-UK Residents

Posted by Steve Johnson
9
Finance & Investment
Oct 7, 2021
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The UK SIPP for non-UK residents

MyExpatSIPP is a self invested personal pension (SIPP) that is designed especially for individuals who have UK pension benefits and are now non-UK residents.

It is a simple low cost pension plan that allows you to manage your UK pension online, without having to use a financial adviser.

Build you own portfolio of investments with online dealing, or select one of  the low cost ready-made investment portfolios.

Your personal Account Manager will guide you through the process of drawing your pension when you reach retirement, and assist you with completing the necessary HMRC tax forms.

Complete our short online application and transfer your pensions into one, easy to manage online SIPP for non-UK residents.

Tax when withdrawing your UK pension from overseas

You can get up to 25% of your UK pension paid as a tax free pension lump sum. The remaining 75% can be paid as a regular income or lump sums.

The UK has double taxation agreements with over 120 countries which normally means you won't be taxed twice on your pension withdrawals.

Most agreements state that pensions paid from the UK to a resident of country with a tax treaty with the UK, will be subject to tax only in their country of residence.

This means that any withdrawals from MyExpatSIPP can generally be paid without any tax deducted in the UK. As this is a SIPP for non-UK residents, we can even pay these withdrawals directly into your local (non-UK) bank account.

You will normally need to report any payments you receive from your SIPP to the tax authority in your country of residence.

➤ Find out more about your options for taking withdrawals from a UK pension plan
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