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Generally, the first 25% of your pension lump sum is tax-free. The remaining 75% is taxable at the same rate as income tax. The tax-free lump sum does not affect your personal allowance. In this post, we will break down some of the details which will affect how much tax you pay on your lump sum.

Processing time: 1 to 2 days depending on certification required. HM Revenue and Customs (HMRC) will provide UK resident persons and companies with an official 'certificate of residence'. This document is normally used by a UK resident person or business to confirm they are located in the UK for tax purposes.

To apply for a CoR : you can use the online service. email a form (you will not need to sign in to an online account) if you're an agent applying on behalf of an individual or sole trader you can apply online.

HM Revenue and Customs ( HMRC ) will collect the tax you owe over the next year. This will happen automatically if you: pay Income Tax through an employer or pension provider. earn enough income over your Personal Allowance to cover the underpayment.

Whether you need to pay depends on if you're classed as 'resident' in the UK for tax. If you're not UK resident, you will not have to pay UK tax on your foreign income. If you're UK resident, you'll normally pay tax on your foreign income.

If you are physically present in the UK for 183 days or more in a tax year you will be resident in the UK for that year.