u/NefariousnessKey1133

I have recently inherited someone’s pension in the UK but for tax purposes I am a resident of Australia. The fund is worth more than £100,000 GBP. We are trying to work out the most tax efficient way to utilise this fund. Considering I will need to take it out of the fund in the UK and then transfer it to Australia, would that be declared as income? As far as I’m aware, there is no tax on inheritance in Australia - but an inherited pension fund might be different? And what would be the most tax efficient way to withdraw it? Just a lump sum? Or smaller withdrawals annually? I appreciate any help!!

I have recently inherited someone’s pension in the UK but for tax purposes I am a resident of Australia. The fund is worth more than £100,000 GBP. We are trying to work out the most tax efficient way to utilise this fund. Considering I will need to take it out of the fund in the UK and then transfer it to Australia, would that be declared as income? As far as I’m aware, there is no tax on inheritance in Australia - but an inherited pension fund might be different? And what would be the most tax efficient way to withdraw it? Just a lump sum? Or smaller withdrawals annually? I appreciate any help!!