Top tips for retiring to Portugal
By International Adviser, 23 Jul 18
What are the big questions that need to be answered before people retire to Portugal? Blevins Franks’ business development director Jason Porter offers a case study highlighting key questions to consider.
What this might mean in terms of John and Julia’s various pension schemes?
When you factor in the UK’s pension freedoms, which allow you to simply drawdown pension capital on a regular basis or take the whole of the pension pot as a single lump sum, this should result in zero taxation in respect of John’s pensions.
As a Portuguese tax resident, Portugal would have the taxing rights according to the UK-Portugal Double Tax Treaty (DTT) on the defined benefit, defined contribution, and Sipp pensions.
The DTT and NHR mean there would be no tax to pay if John commuted all his pension funds.
Julia’s government pension, however, remains taxable in the UK under the DTT.
Ok, but what about investments?
Tags: Blevins Franks | Jason Porter | Portugal
