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Cross border pension sharing (£)
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Philip Teague Managing Director Alexander Beard Expat and Emigration DivisionDivorcing and sharing assets such as pensions can be challenging at the best of times. Bring in a non UK resident into the equation and this makes things even more difficult.
You as a matrimonial law professional do not have an obligation to provide pension planning advice on how your non UK clients can receive pension funds. However there are Financial Conduct Authority (FCA) regulated advisory firms who have the experience and knowledge to provide cross border pension sharing solutions to your client. Allowing a professional to help you and your clients will greatly speed up the process and ensure that they receive the correct solution and tax advice they will need.
The key points that you client will need to consider;
- Most UK pension providers will not accept non UK residents
- Tax implications in the country...
Read the full article here.
