CASE STUDIES
OUR CUSTOMERS

Pension Transfer

Three years ago, Alun and Beth emigrated to New Zealand from their home in Bristol, United Kingdom. They both had pensions; Beth, a final salary pension scheme through her NHS nursing position and Alun, a private company pension. Both made sure to transfer their pensions but they didn’t realise they needed to inform Inland Revenue. They were confused about the four year exemption period and the impact this had when they formally became tax residents.

Our advice…

  • We were able to confirm eligibility for the transitional residents exemption.
  • We were able to inform them of their ongoing New Zealand and United Kingdom tax obligations.
  • Organise a lump sum drawdown of pensions without deduction of United Kingdom PAYE.

Overseas Investments

Robert, an executive in a New Zealand tech company, contacted us about his United Kingdom investments that he’d held for six years. He’d been paying tax in the United Kingdom but had never declared his investments to Inland Revenue in New Zealand. He didn’t know if he should declare them or what would happen to his tax position when he did.

Our advice…

  • We advised him on his tax obligations in the United Kingdom and New Zealand.
  • We were able to calculate his New Zealand tax liabilities and assisted in making full disclosures to Inland Revenue.

British Rental Property

Joanna contacted us asking for advice about the implications of transferring her United Kingdom pension scheme. During the course of our discussion it emerged she had a United Kingdom rental property which was making a loss. She was filing United Kingdom tax returns but had not declared them in New Zealand.

Our advice…

  • We filed a revised New Zealand tax return incorporating the United Kingdom rental income.
  • Because of the accumulated tax losses this resulted in a tax refund.