Options– Germany
Postfach 1501 – 48282 Emsdetten

Phone: 02572 97170
Mobile: 0171 621 3302

Email:
Info@optionsforlife.de

Tax you pay on your pension

OfL_tax

When you take money from your pension fund, you will pay tax on any income above your tax-free Personal Allowance.

The amount of tax you pay depends on the country of residence, your total income and your tax rate.

25% of what you take is tax free in the UK – If you are an ex-pat this will most certainly not be the case!

The remaining 75% will be taxed using an emergency tax code (this could be has much as 40%). All tax payments are deducted by the HMRC before you receive the pension.

The UK has double taxation agreements with many countries – Options will arrange for any incorrect amount of tax deducted to be refunded to you.

If you leave your pot untouched, you don’t pay Income Tax on it.

"After arranging the encashment of my pension Options then liaised with my German tax accountant to say me over 8,000€ in tax. – I couldn’t have been more delighted."


John C. – Germany
2016-04-21T12:01:52+00:00
“After arranging the encashment of my pension Options then liaised with my German tax accountant to say me over 8,000€ […]

"Being in the security industry, life assurance was a problem – Options arranged the transfer of my pension which increased my life assurance payout, giving me and my family peace of mind."


David B. – Northern Ireland


 

2016-04-21T12:07:59+00:00
“Being in the security industry, life assurance was a problem – Options arranged the transfer of my pension which increased […]

“Options transferred my old pension into a plan I could pay into and they got the tax man to pay into it as well – they made it all very simple”


David B. – Northern Ireland
2016-04-19T09:47:25+00:00
“Options transferred my old pension into a plan I could pay into and they got the tax man to pay […]

"Being an ex-serviceman now in the security industry I needed a company I could trust. Options were recommended to me by a work colleague and they provided me with a brilliant service and were easy to deal with. "


Tom R. – York
2016-04-19T09:59:06+00:00
“Being an ex-serviceman now in the security industry I needed a company I could trust. Options were recommended to me […]

“I’m single and if I died I would have lost my pension – Options transferred my pension and arranged for the benefits to be paid to my family if I died before retirement.”


Cara W. – Huddersfield
2016-04-21T11:45:20+00:00
“I’m single and if I died I would have lost my pension – Options transferred my pension and arranged for […]