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Author Topic: Receiving your UK pension in Kalkan tax free!  (Read 10424 times)

Offline DB

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Receiving your UK pension in Kalkan tax free!
« on: April 24, 2008, 08:35:55 PM »
I am considering retirement and I have read somewhere that you can receive your UK pension, tax free.

Can anyone confirm if this is true and what a the rules concerning tax on pension payment in Turkey?



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Offline Chucky

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #1 on: April 24, 2008, 09:01:38 PM »
Hi DB

Try looking on these sites - www.direct.gov.uk - http:/www.hmrc.gov.uk/pensions/taxwhenleaving.htm

Joan

Offline kevincat99

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #2 on: April 25, 2008, 06:45:53 AM »
Hi John
To do this don''t you have to be non-resident in the UK and may this not have other implications on your State Pension being frozen and also some NHS treatment considerations
I know that Amanda has many years to go to get hers but you must be quite near now  ;)

Offline kevincat99

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #3 on: April 25, 2008, 12:18:14 PM »
Hi John
My understanding is that if you declare yourself non resident in the UK your State Pension is frozen at a date and you do not receive annual increases if you live in a non EU country. Also you need to ensure that you have paid all your contributions in full to obtain maximum benefits :I believe this has now changed from 45 years to 30 years or will do soon
I may be wrong as I often am  :D

Offline kevincat99

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #4 on: April 25, 2008, 03:00:42 PM »
Hi John

I dug this out of a piece in the Telegraph on retiring to Cyprus which seems to bear out what I thought

"Cyprus offers other advantages to Britons retiring outside the UK. It is a country where the UK government pays annual inflation increases to expatriates'' state pensions, unlike countries such as Australia, Canada, New Zealand and South Africa. As a general rule, British state pensions which are paid to people who emigrate outside the EU remain frozen at the rate in force when they leave Britain." 
Would be glad if it wasn''t the case as I would declare myself non resident in the UK and not pay tax on my company pension

Can we get a definitive view???





Offline caradog

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #5 on: April 25, 2008, 03:35:29 PM »
Hi KC99
As the UK has a social security agreement with Turkey then you will get increases in pension. The definitive answer is here:

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/PensionsAndRetirement/StatePension/DG_10026714

Offline yelkenite

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #6 on: April 26, 2008, 05:10:02 PM »
Well I guess that''s what''s called a comprehensive reply mate!  Thanks for that.  I may become your neighbour sooner than I previously thought pursuant to investigations! lol

Speak soon.
Bill

Offline DB

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Re: Receiving your UK pension in Kalkan tax free!
« Reply #7 on: April 26, 2008, 10:47:36 PM »
Thanks for all your help replies, I am overwhelmed by all your responses. It would appear that Turkey could be the perfect place to retire and avoid paying tax.

DB


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