email2468

Sorry I wasn't meaning to take something for nothing. Big step dropping work hours for semi-retirement.

Thanks for that Andrew. I spoke to the NHS pension division and was told that total benefits statements are only available for the previous year. They cant provide a worth value for when I left the UK. Given that I'm "happy" to take the figure as $30000 lump sum and $15000 pension. Combined with my part time work looking at $70000 total income for this year reduced my concessional carry forward contributions. Is there a special tax on foreign lump sums or is it taken as part of total accesable income and taxed at your normal rate?

Thanks for the replies. Not that straight forward then. The NHS is a defined benefit scheme and as such its not like a defined contribution scheme - didn't think one can get a growth factor since I emigrated. As I'm only working part time now my income has dropped by two-thirds this year. With the lump sum and pension my total income will be the same as last year. I had assumed my tax would have been similar but I could have reduced it by increasing my concessional contributions to my super.

Hello Guys, About to claim NHS pension with tax free lump sum. Just a couple of queries that I'm sure some of you have worked out. I know I'll be taxed on it here as taxable income. I plan on using my bring forward my unused concessional contributions for super of $40000 to reduce the taxable income. I'm presuming that my NHS pension would be taken just as foreign income and therefore this would reduce my taxable income. Secondly will HMRC tax me as I've no tax code for UK? Can I offset this against any ATO tax? How does one do this? Is it better to be taxed in UK and claim an offset here? Its not that much of a pension $15000 pa plus lump sum of $30000. Thanks