Blog Q&A Calculators Students Logbook Contact
Earn under R350,000?Click here to see why you still need to file to get your Tax Refund.
CLOSE
Need Help with your 2017 Tax Return?

Get your Tax Return DONE in 20 minutes or less with TaxTim!

Click here

Taxation on UK pension lump sum payout (Aged 55 and now reside in SA since 1 Jan 2014)

Posted 28 August 2015 under Tax Q&A


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!

Blog Categories


Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →
Graeme says:
27 August 2015 at 22:04

I have decided to cash in my Pension Pot in the UK (I was 55 years old in 2014 and therefore can retire) - I have been paid out UK Pound amount 47843 of which tax of UK Pound 19977 was deducted. I now need to recover this tax from the UK and then submit same to SARS. My query is therefore:
1. I need to complete UK/SA double taxation form to apply for relief of income tax at source ie UK and claim back my tax
2. I need to submit??? to SARS for them to calculate tax owed by me - I would however need help with this so as to understand how much tax will be owed (would be interested to know what conversion rate will be used by SARS in the calculation)
3. Can 2 above be done independently of my 2015/2016 submission ie can I complete docs as soon as I have my UK tax reimbursed

This entry was posted in Tax Q&A and tagged , , , , , . Bookmark the permalink.

TaxTim TaxTim says:
28 August 2015 at 9:26

Pensions earned outside of SA if they are not related to work performed in SA are exempt from tax in South Africa and therefore you do not need to worry about performing any calculations.


Get SARS Tax Deadlines in your Inbox
 

We'll tell you when you need to file, along with tax tips and updates.

Blog Categories


Let TaxTim
help you
submit your
Tax returns!


TaxTim will help you:

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started

Tim uses your answers to complete your income tax return instantly and professionally, with everything filled in in the right place.

Let Tim submit your tax return direct to SARS in just a few clicks!