Japanese tax on UK pension
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Japanese tax on UK pension
Not sure if this has been asked before. I have started receiving my UK state pension into my UK bank account. I don't intend to transfer it into my Japanese bank account, this year at least. Will I have to declare that as overseas earnings and pay Japanese tax on it? Also, if anyone knows, do I have to submit a UK tax form even though the total I receive will be below the personal allowance of about 12.5K pounds? Thanks.
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Re: Japanese tax on UK pension
As I understand it, with you being a Japan resident the U.K. will not tax pension income. And you will have to declare it here, assuming you have been here for at least 5 of the last 10 years. This would be the case whether you actually remit to Japan or not. Regarding taxation, I am not sure of the treatment here. There is your usual personal allowance of 480k, and there is an extra public pension deduction (not sure how much off the top of my head). It has been suggested on here that the U.K. state pension would qualify for this deduction, but I haven’t seen this definitively confirmed.
Re: Japanese tax on UK pension
See
https://www.tax.metro.tokyo.lg.jp/book/ ... k2022e.pdf
Page 8 - Calculating the Public Pension Plan Deduction (Calculation Table)
https://www.tax.metro.tokyo.lg.jp/book/ ... k2022e.pdf
Page 8 - Calculating the Public Pension Plan Deduction (Calculation Table)
:
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
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Re: Japanese tax on UK pension
Thanks, will read carefully
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Re: Japanese tax on UK pension
and thanks, Beaglehound.