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About BillW

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  1. BillW

    Is Australian Super taxed in the UK

    Hello, Anybody had any interesting experiences or revelations since the last post was made ? This is interesting https://www.gov.uk/government/publications/pension-tax-for-overseas-pensions/pension-tax-for-overseas-pensions#chapter-2---taxation-of-payments-from-foreign-pension-schemes-or-annuities Relevant section is approx half way down the page titled "Changes to taxation of pension payments" Am currently wading through it attempting to reduce it into everyday vernacular English. Bill
  2. BillW

    Is Australian Super taxed in the UK

    Thanks Alan, PM sent.
  3. BillW

    Is Australian Super taxed in the UK

    Hello, Our shift delayed by ill elderly relatives, but still keen to better understand issues discussed in this thread. I had the impression that significant changes took place in UK in 2016 regarding retirement funding. Anybody know if those changes impacted upon the issues discussed in this thread ? Will do some googlng. My current understanding is that its probably best to cash out all super prior to end of May in Australia and land in UK with a bank account (setting up that bank account is a different story) full of cash in Mid April thereby avoiding any possibility of HMRC making any claim on the money we have already paid tax on in Australia. It would then be necessary to sign up for the appropriate retirement funding products in UK. Is there a list of forum sponsors somewhere where I can access contact details for accountants / tax advisors / financial planners that are qualified to give co-ordinated advice relevant to both countries ? In my various discussions with these sorts of professionals its been very difficult to find a one stop shop, there is always the need for bringing in a second or third company because no single company can give me appropriate advice regarding best way to exit Australia and enter UK with retirement funds. I now see that when buying a house in UK some real estate agents are asking you to prove that you are not a money launderer, and we have been warned by our bank (Westpac) that an international transfer ie proceeds of sale of house + super cashouts, can be delayed whilst people check that the money is "clean" - Anybody ever had those issues ? Bill
  4. BillW

    UK expats allowed a British Bank Account

    Thanks for the post. Has anybody recently managed to open an account under this new law ? Will be in UK next May and will give it a try. Bill
  5. BillW

    The cost of living

    Hello, Am keen to learn about any financial planning / tax traps that seem to be hinted at in the above postings. Any known good threads I should read ? Am currently searching through all posts that mention superannuation - Anybody got any recomendations regarding companies they found helpful, giving good advice, when they made the shift ? Bill
  6. BillW

    Is Australian Super taxed in the UK

    Aaaargh frustrating. Ok Have sent query to HMRC pesnions section. Thanks Marisa Bill
  7. BillW

    Is Australian Super taxed in the UK

    .............. and here is the gloriously detailed response to my various questions that I sent to HMRC Dear Sir, Thank you for contacting the HMRC Residence Team. You have not supplied HMRC with sufficient information to verify your identity, so we are only able to give you general advice and nothing specific to your personal circumstances. The information that you require is covered under Form SA109. A hyper-link to this form is attached for your information and use: https://www.gov.uk/government/publications/self-assessment-residence-remittance-basis-etc-sa109
  8. BillW

    Moving back to UK - tax implications

    I can second that. We easily opened an account with Lloyds in Jersey at a time when high street banks refused to let us open a new joint account or have me a co-signatory on my wifes existing account because we were not resident in UK. My wife had an account with bank of scotland who recommended Loyds after informing us that they could accept me as a co-signature on the original account. Bill Fill out a few forms and post them, thats it, done. Bill
  9. BillW

    Is Australian Super taxed in the UK

    Marisa and WInter1, Thanks for the comments. Everybody is different and has different circumstances. Some people might take 1 lump sum once only when they retire Our plan that works well in Australia calls for me to take annual lump sum withdrawal from a fund full of undeducted dollars instead of a regular pension. From what I have learned on this forum so far this may not be as effective in UK for various reasons The strategies outlined in this thread are interesting http://www.pomsinoz.com/forum/financial-advice-ask-vista/165251-australian-age-pension-information-thread.html Regards Bill
  10. BillW

    Is Australian Super taxed in the UK

    Anybody know if the distinction between deducted and undeducted funds has any relevance to how the UK taxes the withdrawals ? I have asked HMRC and am waiting for an answer but was wondering if someone had already had an answer. Bill
  11. BillW

    Aussie Superannuation in UK

    Marisa, Thanks - thats an old post from when I first found this forum. This question is discussed and covered very well on the other thread Bill
  12. BillW

    peer to peer money swap

    Wouldnt that be awfully difficult to co-ordinate ? One of you would have to "go" first and trust the other one to come good in turn. Bill
  13. BillW

    Moving back to UK - tax implications

    Hey Grey Sky, Any complications caused by your wife living in UK whilst having money in a super fund in Australia - did the UK govt want a bite out of the earnings as tax ? Bill
  14. BillW

    Moving back to UK - tax implications

    Thanks Marisa, I reckon this ought to be where my tax file number comes in handy. Am hoping that I can simply ask ATO "Can you please supply a listing of all tax returns I have filed since I started work ?" will let you know how I go. Interesting about the residency requirements for applying in the future, my wife and my parents both succesfully applied for and received UK pensions whilst living in Australia. Regards Bill
  15. BillW

    Moving back to UK - tax implications

    Hello Goingbacksoon, We are goingbacksoonasourhouseissold. Have been investigating the same issues as you have asked about and was wondering if you have had any solid answers yet that you are confident with ? Regards Bill