
phetphet
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I posted my OP as though I have been receiving my work pension for almost five years, this was the first time I had received a P60 pointing out the tax I was paying. I found the wording on the Gov UK website regarding tax on pensions to be somewhat ambiguous. See below the main part that I wasn't sure about,. Which Is why I asked. If you’re not a UK resident, you don’t usually pay UK tax on your pension. But you might have to pay tax in the country you live in. This made me wrongly believe I could claim the UK tax back. I have gone through the figures and it seems you are correct. The first 12570 is tax free, and the remainder is taxed at 20%. It has also made me think about getting my tax affairs in order. Especially as I have shares which cannot be put into an ISA as a UK non resident, but which could be Iiable to CGT. Thanks to everyone, especially nigelforbes for all the advice and valuable info offered.
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But looking at paragraph below, wouldn't it be possible to avoid any double taxation by Thailand on money earned outside by not bringing the money in in the same year it was earned? A resident of Thailand is liable for personal income tax on income from sources inside Thailand and on assessable income derived from sources outside Thailand. However, the imposition of tax on income derived outside Thailand will apply only to income derived and brought into Thailand in the same year in which such income is earned.
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Decapitated Dugong found on beach in Krabi province
phetphet replied to webfact's topic in Krabi News
Not only that. Endangered species as well. -
Thank you for explaining. I am not yet eligible for UK state pension until next year when 66, and not full state pension at that. But am I right in thinking that if non tax resident, I will not pay CGT on any shares in UK companies if out of UK for over five years?
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Thank you. I was only going by this paragraph from the UK Gov website. See the part I have marked in Bold. Tax when you live abroad If you live abroad but are classed as a UK resident for tax purposes, you may have to pay UK tax on your pension. The amount you pay depends on your income. If you’re not a UK resident, you don’t usually pay UK tax on your pension. But you might have to pay tax in the country you live in. There are a few exceptions - for example, UK civil service pensions will always be taxed in the UK. Double tax If you live in a country without a ‘double taxation agreement’ with the UK, you might have to pay tax in both countries.
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Out of the blue, I just received a P60 to the UK address I use, from my pension provider showing tax paid on my pension this past year. I can't remember ever receiving one in years. I haven't lived in the UK for over seven years, and wish to notify HMRC that I am no longer tax resident in the UK to reclaim this.. It should also help with any possible future CGT on UK shares I own as I cannot open an ISA as a non resident to protect any capital gains.. I presume the first step is to obtain a Thai Tax ID, which I plan to do. However. Where I am slightly worried is this: The UK address I use is also the registered address for my stockbroker and UK bank accounts. Both banks contacted me last year to ask where I am tax resident. I said UK in order to keep the accounts open. (We have all seen the many threads on here about people having their accounts closed.) If I notify HMRC that I am not UK tax resident, is it likely that they will notify, or that the banks will find out that I am no longer living in the UK or no longer tax resident? Also. Anything else I might be missing? Any further advice on how to proceed will be much appreciated. TIA.
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Not forgetting the one that outweighs them all: Road traffic deaths.
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Castaway farang rescued from Thailand’s waters
phetphet replied to snoop1130's topic in Eastern Thailand News
Looks like Seahorse Ferry has competition. ???? -
Phuket governor says go outside, smog is “natural phenomenon”
phetphet replied to webfact's topic in Phuket News
Up there with falling off balconies. -
27 Omicron XBB.1.16 cases detected in Thailand by April 17th
phetphet replied to snoop1130's topic in Thailand News
I had those symptoms around 10 days ago, cough, fever, sore throat and general aches. Did two Covid tests, both negative. Stayed indoors all through Songkran, ( that wasn't a bad thing). Am already triple vaccinated. What more can one do? -
Is it safe to order something on Aliexpress - experiences ?
phetphet replied to moogradod's topic in General Topics
If you have a Kasikorn Bank account: I used a K-Web virtual shopping card for all my purchases on Aliexpress. It has recently been updated / replaced by a new type of virtual online debit card. I applied for that when my previous one expired, and have used that to order from them. Not sure if other Thai banks offer the same. This (link below) was the old shopping card. It's still showing on their website, but has now been replaced by a different online card. https://www.kasikornbank.com/EN/personal/debit-card/Pages/web-card.aspx -
I want to create an ant-free zone on a table
phetphet replied to JustThisOnePostOnly's topic in General Topics
"This is the way." I mix mine with crushed sugar granules and honey, mix it with boiling water to make a syrup, then once cool pour it into bottle caps to leave along the walls where the ants pass. -
In upcoming news! Thailand's new submarine damaged while on trials near Koh Samui. ????
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Where are you sourcing the water that you use? It might be that. Not what you are adding to it.