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Pocketmags Digital Magazines
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Pocketmags Digital Magazines

UK/UAE treaty allows expats to cash in pension pots tax-free

• The double tax treaty was signed in December 2016 and became effective with the new UK tax year

• Expats in UAE can use their Sipp to withdraw their pension pots tax-free, skipping the new 25% Qrops tax

A United Arab Emirates/UK double tax agreement (DTA), which came into force on 1 January, means British expats over the age of 55 residing in the Gulf state are able to cash in their full pension pot entirely tax-free, according to David Denton, head of international technical sales at Old Mutual Wealth.

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