Pension Transfers - Tax Relief Granted!!!!
Finally tax relief has been granted for those people who were in the unfortunate position of having a UK Pension monies arrive in to Australia post 6 April 2015.
Today HMRC have confirmed:
Having considered the specific facts and circumstances of this case, HMRC will not be pursuing the tax charges that arise because you transferred UK tax-relieved pension savings between 6 April 2015 and 1 July 2015 from your scheme to an Australian superannuation fund that was no longer a QROPS as a result of the introduction of the pension age test.
HMRC have really taken their time in reaching this decision but this will be a huge sigh of relief for many people.