Is Hong Kong Pension taxable
I have a client who receives a Hong Kong Pension from Crown Agents
I recall reading some while ago that from April 2011 this would not be taxable in the UK. Subsequently I read a further article advising that this was due to a loophole in a double taxation agreement which had been closed. The upshot being, I thought, that the pension for 2011/12 would be taxable.
I have now received my clients P60 and this shows the whole pension as being "non-taxable" and the figure marked to be used for the Tax Return is shown as nil.
I am rather confused, does anyone know whether this income is taxable (subject to 10% deduction) or in fact not taxable as indicated on the P60?
Many thanks for your help.
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