Enhanced Lifetime Allowance (international)
Clare_Weight
Member
Does someone have a nice link to an easier read than the PTM on the Enhanced Lifetime Allowance (international)?
Clare_Weight
Member
Comments
My sense is that the guy is not eligible so I will look into it more if we need to but if we don't I just want a really basic sense of what this is as I have never heard of it before.
These might help?
https://www.taxworld.co.uk/other/finance-acts/fa-2004/part-4-pension-schemes-etc/chapter-5-registered-pension-schemes-tax-charges/section-221-non-residence-general-fa-2004-s-221/
http://www.legislation.gov.uk/ukpga/2004/12/section/224
Thanks Nathan.
There was a post on Life Talk last night and someone linked the below. Adding here in case someone with a similar issue finds this thread.
http://bridgewaterfs.co.uk/2016/08/16/worked-overseas-may-qualify-lta-enhancement/
I liked that one the best, my boredom threshold is low!
https://www.oldmutualwealth.co.uk/Adviser/literature-and-support/knowledge-direct/pensions/lifetime-allowance/non-residence-enhancement-factors-for-money-purchase-schemes/
https://www.gov.uk/government/publications/pension-schemes-enhanced-lifetime-allowance-international-apss-202
I haven't read this but including in case it helps someone else.
There's another element of Enhanced Lifetime Allowance (international) to do with overseas pension transfer to the UK. Can be hard to find info as they're both called the same thing.
I'm still not clear because there are some AVCs in his DB scheme but he doesn't pay tax in Dubai so he hasn't really 'missed out' on tax relief which is the reason LTA uplift is given to UK pension members working abroad. Maybe the rules apply anyway which would be lucky for him!
We're hoping the HR dept know all about it, they're just being a bit slow and we don't really like routing queries through the member / client. Plus no doubt they're busy while the DB scheme is closing.