Avoid paying 55% tax on your UK pension Many expatriates living here in Switzerland or worldwide for that matter, are potentially going to be liable to pay the additional 55% tax when they draw upon their UK pension assets.  This is mainly due to the Life Time Allowance (LTA) being reduced significantly over the past years.  For example between 2010 and 2012 the LTA was £1,800.000 and now it is just £1,055.000. So what is the life time allowance? The…