Tax on UK pension
I'm hoping Becasse sees this as he seems to have quite a lot of knowledge on this subject. Any help/advice from anyone who knows will be appreciated.
I have the possibility to take an old UK company pension. I am long term resident tax payer here with own company and UK and Belgian nationality.
With this UK pension I have the option to take 25% up front (tax free if I was in UK) now and then a monthly sum which would be less than €10000 per year (perhaps significant as it may be below the threshold), or to not take the 25% in which case it is just over €10k per year.
My current understanding is that I might not be taxed on it as such, but the Belgian Fisc would increase the % tax that I pay on my Belgian income.
I'm getting conflicting information from accountants.
Does anyone have actual experience?