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Old 10.07.2020, 12:25
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Taxation on moving a 2 pillar pension from CH to UK

I left Switzerland a couple of years ago and left my 2 pillar pension on a Vested Benefits account in Canton Schwyz.
I am wondering if anyone has experience of withdrawing a 2 pillar pension from Switzerland as a UK tax resident? I have been given conflicting advice and the double taxation agreement is not clear to me.
I am 59 years old and have CH and UK nationality so want to decide where it is tax effective to be resident when I decide to move/access the pension.
Any help would be greatly appreciated. Thanks.
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Old 10.07.2020, 12:30
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Re: Taxation on moving a 2 pillar pension from CH to UK

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I left Switzerland a couple of years ago and left my 2 pillar pension on a Vested Benefits account in Canton Schwyz.
I am wondering if anyone has experience of withdrawing a 2 pillar pension from Switzerland as a UK tax resident? I have been given conflicting advice and the double taxation agreement is not clear to me.
I am 59 years old and have CH and UK nationality so want to decide where it is tax effective to be resident when I decide to move/access the pension.
Any help would be greatly appreciated. Thanks.
Unless it is treated as disguised remuneration the withholding tax should be all you need to pay. There was a cut off date before 'disguised remuneration' reared it's head it was to prevent UK residents who were passing fees abroad & into pension funds abroad.
I spent about 2 days researching this 6 years ago when there was a chance I might become UK tax resident, it's potentially complicated which explains the conflicting advise. Even HMRC's website was not clear on statutory exemptions that apply here. I am not at home where my records are due to lock down so can't quote the exact rules.
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