Thread: Tax Tips for Brits Abroad

Brits abroad can now avoid tax on their pensions by transferring to a QROPS. You can watch a short video here:

http://www.qropsspecalits.com/qrops

For Brits moving to the USA:

You have to report to the IRS, but don't necessarily have to pay tax and the UK and US have a double taxation treaty. If you have a private pension plan, you can transfer your pension to Malta to avoid UK taxes. You can then defer your US taxes until later. There is no tax on the growth of the pension fund in the QROPS. Distributions from the scheme are reportable in the US by the member and by the trustee in respect of factor. The distributions will be taxable in the US but may be treated as annuity income which may be taxed favourably.