An NT (no tax) code is granted to individuals who receive UK-sourced income and reside in a country that has a double taxation agreement with the UK. Within a UK pension, including a SIPP, your gross pension is subject to PAYE income tax unless you personally apply to HM Revenue & Customs (HMRC) for exemption on the grounds that you are non‐resident.
Pension simplification came into effect from 6th April 2006 to rationalise the British tax system in regards to pension schemes. One of the policies introduced was the lifetime allowance for all UK pensions. The lifetime allowance is the limit on the amount of pension benefits that can be taken without incurring a tax charge.
Jake (Principal, SJB US) had another insightful conversation with Robbie Lawther at International Adviser. This time, they discuss the ‘limited and often expensive’ range of products available for US expats… And how we at SJB can help!
Our own Jake Barber (Principal, SJB US) spoke to Robbie Lawther at International Adviser about how there should be an ‘increase in qualifications to enter the market’ for those specialising in serving Brits overseas.
Here’s how it went…
Little is known about the agenda for Theresa May’s policies. With the unknown always comes concern, especially when many British Expats feel disheartened with the vote to leave EU
