Overseas Transfer Allowance

The history of overseas transfer allowance for the different tax years from 2024/25.

An individual’s overseas transfer allowance is set at the same level as their lump sum and death benefit allowance. If the individual has valid lifetime allowance protection such as fixed protection 2014 their overseas transfer allowance will be higher than the standard amount.

This allowance is reduced if benefits were taken before 6 April 2024 and when any overseas transfers take place on or after that date.

Lump sum allowances and the overseas transfer allowance.

Tax Year Overseas transfer allowance
2025/26 £1,073,100
2024/25 £1,073,100

 

Disclaimer

The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.

All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.