This comparison graphic contrasts the treatment of a US pension lump sum before and after HMRC’s March 2025 guidance. In the “before March 2025” panel, the UK tax position is shown as exempt, US tax remains payable in the source state, no foreign tax credit is needed, SA106 reporting reflects a treaty exemption claim, and the additional UK cost is shown as £0. In the “after March 2025” panel, the UK tax position is shown as taxable at marginal rates, foreign tax credit relief becomes relevant, SA106 reporting changes to income plus a foreign tax credit claim, and an estimated additional UK cost uplift of 8% to 11% is shown. The graphic is intended to make the practical compliance and tax cost changes easy to understand at a glance.