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MartinL

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Posts posted by MartinL

  1. 35 minutes ago, bdenner said:

    We had a reasonably well off UK pensioner pass away some time ago. Both his TW and Daughter (18yo attending university) get a percentage of his private pensions paid directly into their Thai Bank accounts. The TW is not a UK passport holder pays UK tax at 30% (flat rate), the Daughter gets the tax refunded as she has a passport but does not meet the UK tax threshold.

     

    Are they going to get caught up in this crap?

    A Thai national living in Thailand is entitled to the £12,570 tax free allowance available to UK citizens. 0% tax on that amount then 20% up to about £50 k. There's some paperwork involved - isn't there always!! - but probably worth it if her inherited pension is a reasonable amount.

     

    https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm10340    (about halfway down the page)

  2. 3 hours ago, Mike Lister said:

    Not true. FET stands for Foreign Exchange Transaction form, in practise, any official advice or notification form used by the bank to confirm the transaction, will suffice. Ask and you shall recieve.

    Do you know, Mike, if that mean I can go to my bank and ask for an FET for ANY transfer into Thailand at any time in the past (maybe within reasonable time limits)? Or must it be obtained at the time of transfer?

  3. 1 minute ago, Thingamabob said:

    So much for so called 'Buddhism' in Thailand. Utterly disgusting.

    For a religion that advocates, as I understand it, not harming living creatures, this offering of pigs heads, chickens etc. at temples seems to go against all principles. Never understood it and never get a proper answer when I ask practising 'Buddhists' why dead animal sacrifices are made.

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  4. Drawing pension since 2019 under the new pension scheme.

     

    Thanks for the article, topt. That's information I knew already. 

     

    The main thrust of my question, both here and in my message to IPC, is - 'Does a FROZEN pension in payment increase with voluntary contributions?'

     

    I have 42 years of NICs, many of those 'contracted out' so that my pension, back in '19 and with the max. number of years I could buy at that time, was 87% of the full pension. Obviously a smaller %age now.

  5. I looked at my National Insurance Record online the other day. It said that I had until the end of this tax year to make voluntary NICs for 6 of the years I've been in Thailand - 2010/11 > 2015/16. The necessary payment for each year was stated and working out how much extra pension might result is easy enough. I know it's a good deal, having paid voluntary NICs in the past, so would be inclined to make the extra payments.

     

    I'm already receiving my State Pension but I shot off a query to the International Pension Centre asking whether, as an existing pensioner, I could make these extra payments (it's seems possible according to MoneySavingExpert). I also asked whether payments would result in increased pension payments since my pension is frozen. I'm sure DWP would be happy to take the money and then say "Frozen pension = no extra".

     

    Has any existing pensioner been through this process and found out whether voluntary NICs increase their existing frozen pension?

  6. 45 minutes ago, RuamRudy said:

     

    The Union Flag (not Jack) is the flag of the United Kingdom of Great Britain and Northern Ireland. The flag of England is the St George's Cross.

     

    29 minutes ago, RuamRudy said:

     

    No problem - lots of British people call it the Union Jack too; it's more my pedantry than anything else.

     

     

    According to the Flag Institute, either Union FLAG or Union JACK is correct.

     

    https://www.flaginstitute.org/wp/wp-content/uploads/2014/03/Union-Jack-or-Union-Flag.pdf

     

    The FI seems to come to a pragmatic solution to this controversy.

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