# Is a UK ISA and SIPP taxable in Italy?



## spencetj (Oct 19, 2021)

Hi all. I am planning to move from UK to Italy (Monza) soon and. I want to minimise any possible tax bill before I officially become an Italian resident (likely 3 months after I move)

Most of my money in the UK is in either cash ISA, stocks & shares ISA or SIPP. If you are unfamiliar with these, and gains in the ISA (individual savings account) is tax free. Contributions to the SIPP (self invested personal pension) are tax deductible, plus when you come to take your pension you can take a 25% lump sum tax free. This is according to the UK rules.

My question is, when I am an Italian resident do the proceeds of these investments become taxable in Italy, and if so is there anything (legal) I can do about it? I believe there is a double tax agreement between UK and Italy so you don't get taxed twice, but I don't know what happens with things that are tax free in the UK. I don't really want to lose 28% of my life savings to the taxman!

Many thanks!


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## spencetj (Oct 19, 2021)

Nobody?


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## GeordieBorn (Jul 15, 2016)

Spence a lot on on the same forums - IVAFE


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