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Will Poland tax my SIPP?


cja 2 | 4
8 Jul 2018 #1
I am UK resident for tax purposes and have a SIPP. If I become resident in Poland for tax purposes then will Poland tax my SIPP? If so then in what way?

My SIPP holds a single fund which does not pay dividends. So the only activity is the change in value of the fund holding and monthly contributions to the SIPP by my UK limited company with which I buy more of the same fund.

I'm most concerned that Poland might tax the contributions from my limited company to the SIPP as if they were income to me.

I am hoping that the Polish tax authority would recognise a UK SIPP as a pension and therefore not tax it until I withdrew money from it. (Which won't be for decades.)
cms neuf - | 1,980
8 Jul 2018 #2
I dont think so - if its a direct transaction from your ltd company to your SIPP and never touches your pocket then i cant see any taxable event.

But check with a tax accountant if the amounts are significant
OP cja 2 | 4
8 Jul 2018 #3
Thank you for your reply.

I am concerned that Polish tax authorities might see the SIPP as just an account in my name and therefore part of "my pocket".

To put it another way: Why wouldn't the Polish tax authorities see the SIPP as just an account in my name? And so why wouldn't they tax payments to it from my UK limited company as income to me?
cms neuf - | 1,980
8 Jul 2018 #4
Because if it is really limited company then it has a separate legal personality from you even if you are a 100% shareholder. You would be taxed at the moment you extract cash from the limited company - either via salary or via dividends.

If you're not talking about a limited company and rather as a sole trader business, then the position would be quite different.
OP cja 2 | 4
8 Jul 2018 #5
Thank you for your efforts. I think you don't understand what a SIPP is though.

A SIPP is an account in my name which the UK government does not tax and that I cannot take money out of until I'm over a certain age. It is not part of my limited company.

Therefore, why wouldn't Poland just see it as an account in my name and thus the income to it from my limited company to be taxed like income into any other account in my name?

I'm hoping to discover that Poland does recognise that it is a pension account and so treats it specially, but I need evidence of this. I haven't found anything by searching the web.
cms neuf - | 1,980
8 Jul 2018 #6
No I have only a vague idea what you're talking about - if the legal beneficiary of your SIPP is your company then what I said before is probably correct. If the legal beneficiary is you or your heirs then maybe it is taxable

It is doubtful that the polish tax office have any specific guidance or history on this - they obviously are not au fait with everyone else's pension systems

You are unlikely here on this board to find anyone who understands or has experience of it - suggest you get some professional advice, probably would cost you abou 100 quid, maybe 200 quid if you wanted someone to put in writing.


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