Go Back   English Forum Switzerland > Help & tips > Leaving Switzerland
Reply
 
Thread Tools Display Modes
  #1  
Old 28.09.2015, 00:42
Newbie 1st class
 
Join Date: Aug 2008
Location: Zurich
Posts: 14
Groaned at 1 Time in 1 Post
Thanked 6 Times in 3 Posts
Cagliostro has become a little unpopularCagliostro has become a little unpopular
used 2nd pillar to buy property in UK

I returned to uk and bought a house using our second pillar. We transferred the funds from our second pillar to an account with Rendita, we were able to use the whole of these funds apart from a percentage which were taxed. I understand it is possible to reclaim this back, they do however request that we submit a form from the local tax office.

Does anyone have any experience of this and did you get the tax back ?

Thanks.
Reply With Quote
  #2  
Old 28.09.2015, 01:00
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,716
Groaned at 209 Times in 181 Posts
Thanked 11,029 Times in 6,254 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: used 2nd pillar to buy property in UK

Quote:
View Post
I returned to uk and bought a house using our second pillar. We transferred the funds from our second pillar to an account with Rendita, we were able to use the whole of these funds apart from a percentage which were taxed. I understand it is possible to reclaim this back, they do however request that we submit a form from the local tax office.

Does anyone have any experience of this and did you get the tax back ?

Thanks.
If you reclaim that tax, you will have a huge UK tax liability so don't even try to.....

Any Lump sum earned before April 5th 2011 is completely free of further UK tax, however depending on how much time you were in CH unto 90% of the lump sum could be taxable in the UK at normal income tax rates. It's a potential can of worms for anyone who did any work in the UK since April 6th 2011.
Reply With Quote
  #3  
Old 29.09.2015, 20:09
Newbie 1st class
 
Join Date: Aug 2008
Location: Zurich
Posts: 14
Groaned at 1 Time in 1 Post
Thanked 6 Times in 3 Posts
Cagliostro has become a little unpopularCagliostro has become a little unpopular
Re: used 2nd pillar to buy property in UK

Quote:
View Post
If you reclaim that tax, you will have a huge UK tax liability so don't even try to.....

Any Lump sum earned before April 5th 2011 is completely free of further UK tax, however depending on how much time you were in CH unto 90% of the lump sum could be taxable in the UK at normal income tax rates. It's a potential can of worms for anyone who did any work in the UK since April 6th 2011.


Thanks for the advise, actually to be precise, we did not even see the money, was moved from the Rendita directly to the Seller account. Does it make any difference ?
Reply With Quote
  #4  
Old 30.09.2015, 00:32
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,716
Groaned at 209 Times in 181 Posts
Thanked 11,029 Times in 6,254 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: used 2nd pillar to buy property in UK

Quote:
View Post
Thanks for the advise, actually to be precise, we did not even see the money, was moved from the Rendita directly to the Seller account. Does it make any difference ?
No not at all, your not allowed to touch the money which is why you never did. It has to be used for a house purchase or paying off a mortgage. If you sell the house the money has to go back to the pension fund, you can't rent the house out as it needs to remain your primary residence.
Reply With Quote
  #5  
Old 21.10.2015, 19:40
Newbie 1st class
 
Join Date: Sep 2015
Location: Vaud
Posts: 15
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
Nathyb has no particular reputation at present
Re: used 2nd pillar to buy property in UK

Quote:
View Post
I returned to uk and bought a house using our second pillar. We transferred the funds from our second pillar to an account with Rendita, we were able to use the whole of these funds apart from a percentage which were taxed. I understand it is possible to reclaim this back, they do however request that we submit a form from the local tax office.

Does anyone have any experience of this and did you get the tax back ?

Thanks.
Hi!

Is it simple to use the 2o pillar to buy a house in UK? I'm not EU citizen and I'm moving to there.
Reply With Quote
  #6  
Old 21.10.2015, 20:44
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 13,716
Groaned at 209 Times in 181 Posts
Thanked 11,029 Times in 6,254 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: used 2nd pillar to buy property in UK

Quote:
View Post
Hi!

Is it simple to use the 2o pillar to buy a house in UK? I'm not EU citizen and I'm moving to there.
It would be easier to take it as cash, as less people are involved.
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
2nd and 3rd pillar in Switzerland versus buying property KayZoubi Business & entrepreneur 12 19.05.2015 12:37
2nd Pillar - move to UK Dr Winston O'Boogie Finance/banking/taxation 3 19.11.2010 12:22
2nd pillar to buy a house for a familiar? stebrex Finance/banking/taxation 0 21.09.2010 17:04
Transferring 2nd Pillar Pension Fund to UK Fergico Finance/banking/taxation 4 11.09.2009 00:13
2nd pillar pension to puchase property in the UK Swissscot Finance/banking/taxation 4 19.05.2008 18:41


All times are GMT +2. The time now is 10:19.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0