Tax Advisor’s – Please Help Answer Tax Question Of The Week!

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Written by Kat Jennings | Posted in Tax Questions

Tax Advisor’s – Your Thoughts On This Question Of The Week?

Do US citizens with U.K. personal pensions have to pay tax on the 25% portion that is not taxable in the U.K? The tax treaty suggests two different outcomes. Article 17.2 – yes and article 17.1 a and b – No.

I have seen some are now suggesting as these are periodic payments rather than the US definition of a lump sum then the relevant article is 17 1b and the US savings clause does also not apply and these payments are not taxable.

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Kat Jennings

Kat Jennings, Founder of ET Search LLC offering retained tax search services and TaxConnections Inc., the leading tax professional branding platform. Through ET Search LLC, we provide: 1) Internationally recognized, retained executive tax search services for multinational corporations, public accounting firms, and law firms; and through TaxConnections: 2) Provide brand building services to expand the reach of tax professionals and their firms.

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