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Foreign Income from Netherlands

How to deal with pension income

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Just considering taking on a new client and looking for advice on overseas pensions from Netherlands. He is domiciled and resident in the UK.

He has a UK private and state pension, an overseas state and  private pension from abroad. My understanding is that the private pension is taxable in UK but is the Dutch state pension also taxable in the UK.

Are the monthly state and private payments converted into £'s based on different exchange rates each month to  consolidate a yearly figure for the tax return.

Is there anything else to consider?


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By zarar
09th Aug 2019 14:51

You need to read article 17 of the tax treaty

When I do it I take an average exchange rate for the year and apply to the total payments. Exchange rate based on HMRC tables

I don't know what year end tax returns run to in The Netherlands and if the client has other overseas income. But you would need to consider if you were preparing the return on the coterminus basis or not

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