# Keeping aussie super Fund



## BillW (Jan 15, 2015)

Hello,

After working for a significant part of our working lifes in Australia we are looking at retiring in Fife Scotland.

They don't have bushfires. I was born in Scotland and my wife in England.

Was wondering about how the authorities in UK would tax my super and and my wifes pension fund.

Any good web sites that you know of or experiences of other folk most welcome.

Any pros/cons to maintaining the funds in Australia and doing an annual or quarterly "dump" ?

Regards

Bill


----------



## nikkisizer (Aug 20, 2011)

Hello Bill,

Once you become UK resident your wife and yourself must complete an annual self assessment tax return if your foreign income is liable to UK tax.

To do this you will need to register for self assessment with HMRC.


----------



## BillW (Jan 15, 2015)

*UK tax on aussie super*



nikkisizer said:


> Hello Bill,
> 
> Once you become UK resident your wife and yourself must complete an annual self assessment tax return if your foreign income is liable to UK tax.
> 
> To do this you will need to register for self assessment with HMRC.


Nikki,

Thanks for the reply.

............. how does one determine "if your foreign income is liable to UK tax"

Are there any commonly used strategies that can be used to minimise tax after all we have already paid a reasonable amount of tax on our super funds already.

One of our funds is made up of 100% after tax contributions so it does seem strange to have it taxed yet again by the UK government.

Bill


----------



## nikkisizer (Aug 20, 2011)

Hello Bill,

If your total income exceeds your total UK allowances you will have UK tax to pay on this income.

There is a double taxation agreement held between the UK and Australia which means that you will be able to get relief from double taxation but this claim would be calculated and submitted via your UK tax return.


----------



## BillW (Jan 15, 2015)

nikkisizer said:


> Hello Bill,
> 
> If your total income exceeds your total UK allowances you will have UK tax to pay on this income.
> 
> There is a double taxation agreement held between the UK and Australia which means that you will be able to get relief from double taxation but this claim would be calculated and submitted via your UK tax return.


Thanks Nikki,

Will have a look at a UK tax return and see how this is done.

Bill


----------



## nikkisizer (Aug 20, 2011)

You are most welcome Bill.

I must forewarn you though that the rules surrounding residency and the calculation of foreign taxation relief is quite complex!


----------



## BillW (Jan 15, 2015)

nikkisizer said:


> You are most welcome Bill.
> 
> I must forewarn you though that the rules surrounding residency and the calculation of foreign taxation relief is quite complex!


Thanks for the warning. There is a government site with documentation regarding tax issues. I will find it and educate myself. Am happy to pay for some formal advice once I have better understood the problem.

Is there anyone in your company who has experience in helping people avoid known traps and mistakes when shifting back to UK with existing Australian super and pension funds ?

Bill


----------

