Hi
SO I had a call with UBS today where I have around 84k CHF Pension.
I asked if I can now withdraw for any other reason than a house, and she confirmed that now I can withdraw all as Uk has left the EU and said it is much easier than for a house deposit.

She also said I would pay Swiss Tax around 4-5000 CHF. Im good with that

The question now, which seems to confuse everyone is what about UK Tax.
I asked a financial advisor who stated that based on the below I would be liable for Swiss tax only

Is that correct? Has anyone else done this?
Thanks for your help
The GOV.UK Website is misleading and says tax upto 55%!

I am under 55 and employed!

https://assets.publishing.service.go...s_in_force.pdf

Erm, are you talking about the 3rd pillar?

You can only withdraw if you are leaving CH - haven't read that from your post.
Edit: I see you are based in the UK already.

Location says Portsmouth which is UK.

I left Geneva 2017...
Thanks

Unless it comes under disguised remuneration the Swiss tax should be all.

Hi all
Has anyone withdrawn this and have an idea with taxation in UK?
Or have any idea of a company who will know?

Read the previous post

Thanks but how can I be 100% sure it's not considered disguised remuneration which I'm sure it's not?

Do I need to do a tax self assessment?
Thanks so mucg

Goodness, didn’t you UK people think about these things before? Good luck to you - maybe you could set-up an Engbrit.co.uk Forum! Personalöly, I’d already balk at a CHF 5000.- deduction on such a saving, but if you want it to be paid out that’s the way it is. Much better would be to get proper pension/tax advice

thanks for nothing!

Think that you need address that to the UK Govt., not me. But thanks anyway

I don’t get your hostility - you know how much tax will be deducted on your pension savings when withdrawing from Switzerland. If I do a quick internet research, I can see what possibilities there are are of transferring to my next UK pension pot. I would have researched this long before Brexit if I’d been in the same situation. You are talking about a 55% tax from the UK side - seems to be a UK and not a Swiss English Forum problem

Id have no idea who to ask if I was moving back. This is probably the most fertile source of fellow uk expats who've been through the same experience.

Withdrawing is very sensible even with a 6% tax as he'd have the freedom to invest as he likes - Swiss pensions are highly regulated and very low performance.

I think that the most *fertile” and /or experienced resources have already replied. Let’s see, and please keep us posted on whether 55% UK tax needs to be paid!

Not bring hostile. Just my needs must
I was advised that paying swiss tax would be the only taxation as based on the double taxation agreement

But no one seems to really know hence looking for an experienced person or company I can enquire with

https://assets.publishing.service.go...s_in_force.pdf

Section 18 item 2
Just wonder if this is relevsnt

Id also be very interested in this question now that brexit has happened.

Can pillar 2 be withdrawn in total minus a few % tax in Zurich or Schwyz?

What happens to pillar 1?

I asked a tax expert who sent this

He said if bot a social security benefit this should apply

https://www.litrg.org.uk/tax-guides/...erseas-pension

You need to differentiate between receiving a pension at an allowable age either as income or a lump sum and cashing in a pension fund before it's due, reverting it to cash. The links given so far refer to the former. I believe the Swiss will tax you on the latter, at a rate that is equivalent to the rate if that was your only income in the year but maybe not if you're no longer Swiss tax resident? Not sure about the UK. If you're UK tax resident when you cash it in then probably it's UK taxable.



Talk to HMRC - the horse's mouth so to speak.
Or you just don't mention it.

Thanks but the question still stands

Can pillar 2 be withdrawn in total minus a few % tax in Zurich or Schwyz?

What happens to pillar 1?

I suspect that all pillar 2 can be taken out with Swiss tax payable but no Uk tax

That seems to be the way
That's how I've been advised no UK tax