TorquayFan

It's good to see some MP's are supporting 'End Frozen Pensions' but it's hard to believe Govt. largesse will stretch to this - (but it's OK to waste billions if it suits - as Baroness Mone can testify). "Some pensioners living abroad will not see their state pension payments increase in line with inflation. The government has been urged to bring a halt to an "unfair postcode lottery" that means almost 500,000 Britons living abroad have had their state pension frozen. Under the pensions triple lock, UK pensions rise annually by either inflation, 2.5% or average wage growth, whichever is highest. Inflation was 10.1% in the qualifying month of 2022/2023, meaning most state pensions will see a large increase. The pensions of British citizens living in countries such as Australia and Canada are frozen at the level they were at when they left the UK. However, 492,000 Britons overseas miss out on annual state pension rises. The pensions of those in countries such as Australia and Canada are frozen at the level they were at when they left the UK. Dozens of MPs have now backed a campaign group's call to end the policy. On Monday, SNP MP Dave Doogan tweeted: "Half a million people have had their pensions frozen because they live in countries without an annual uprating agreement with the UK. "The UK government must end frozen pensions and ensure people get the uprated pensions they deserve." Campaign group End Frozen Pensions has written to the government to end the policy. The group says: "We are writing to urge you to end the injustice felt by half a million British pensioners living overseas, excluded from annual state pension uprating by the UK government's frozen pensions policy simply because they live in the 'wrong' country." The campaign group pointed out that pensioners in countries with agreements, such as the US, do receive fully uprated pensions, but those in countries such as Australia, Canada and parts of the Caribbean, do not. An estimated 48 Commonwealth countries are excluded, End Frozen Pensions said. The Canadian government has previously requested making a deal with the UK to solve the problem for some 127,000 British pensioners living there, but a resolution has not been found. End Frozen Pensions said: "This unfair postcode lottery has to stop - we believe that all UK pensioners deserve their full state pension no matter where they happen to live and urge you to end this longstanding injustice." Campaigners and pensioners staged a protest outside the department for work and pensions in London last week. Caroline Abrahams, charity director at Age UK, said: “It seems very unfair that ex-pats who live in certain countries outside of the UK and EU miss out on having their state pension uprated each year. "Over time this means they can be deprived of tens of thousands of pounds that really should be theirs, leaving some in dire financial straits. It’s high time this long-standing injustice was remedied for every older UK citizen who chooses to live in another country in retirement. "Every one of these pensioners has already spent years paying into the system through National Insurance contributions or credits and deserves to receive the same income boost as everyone else, regardless of where they live.” A Department for Work and Pensions spokesperson said: “We understand that people move abroad for many reasons and that this can impact on their finances. There is information on gov.uk about what the effect of going abroad will be on entitlement to the UK state pension. “The government’s policy on the uprating of the UK state pension for recipients living overseas is a longstanding one of more than 70 years and we continue to uprate state pensions overseas where there is a legal requirement to do so.” " https://uk.yahoo.com/news/unfair-postcode-lottery-anger-over-500000-british-pensioners-missing-out-on-triple-lock-162441549.html

Hello Taxout - sorry for the late reply - I have been travelling . . . Re. your para 1 - OK then giving him the shares is not on at all. Original and current SP is say 20 pence but in the next 12 months I expect then to be say GBP4. The 'inherit' route sounds good - is there a value limit on how much value in shares I can give him ? Then to be taxed on a subsequent increase later will not be a problem for him. Re. your para 2 - OK I'll rule out the foreign 'tax sheltered account for him. Re. your para 3 - yes any gift won't be in excess of $100,000 but the inheritance is likely to be that or more. To explain - in the UK I can give my 2 other Sons up to GBP6,000 p.a. and they they hold the shares in an ISA OK. I want to do the same for the youngest in Florida. Many thanks for the pointers - all thoughts appreciated.

Thank you taxout - may I reply to that later. VERY interesting and I appreciate your reply. ATB

I am a Brit, living in Thailand, wanting to 'gift' GBP6K (p.a.) of UK shares to my Son, a UK/US National, now living in Florida. Please, does anyone have any idea how this can be done without involving my Son, unless necessarily so, in US tax liabilities ? The easiest way we first thought of is that he should hold a UK Share Dealing a/c and put the shares in an ISA. But are there any US tax implications of doing that ? It's a bit technical but does anyone have any ideas please OR have suggestions for sources for advice at reasonable cost. Thanks.

Scott that's surprising - I'd thought that Trump had engineered a Supreme Court to favour him ? "There were no noted dissents" - it appears that his Nominees turned against him ?

Hi Jay, I buy new DKNY frames on Ebay about GBP30 and get very high prescription high quality 'Hoya' (Japan) lenses fitted for about THB 1,800. Top quality glasses for a low price. Re. an eye test, why not try Bangkok Hospital or similar. An exhaustive eye examination is a good investment IMO Good luck.

Here's a challenge. Has anyone seen in the Media, any suggestion at all, that the Personal Allowance for Expats, is being discussed at all or is about to be abolished ? If not, as this thread will be worrying some People quite a lot, why not leave too much further discussion, in the lack of some clear indication that this is being discussed, until Thursday, when we will know? Some will be 'bricking it' as they say - it IS an alarming prospect. Links please, ATB

Re. this - "George Osborne was about to introduce it several years ago, but it was stopped by the EU" - thanks OJAS for providing a link. Whilst all things are possible - myself I'd be staggered if such a brazen injustice was put forward again. Relax - ain't gonna happen. The Personal Allowance will be maintained for Expats. 100% AIMHO

TOG - I'll never be dragged into that one, unfortunately. Well that is, not unless I live to be 150 LOL

TOG - your 1st para. Yes removing the personal allowance GBP 12,570 would hit OAP's and those with private pensions too, at 20% of whatever they have in total, (arising from UK sources). IMO that would be outrageous! Freezing the level that triggers 40% tax rate would be a 'stealth' rise and might be likely across the board. (IMO that's a mighty good pension - wish I had one!) BTW I read the DM and DO think OAPs must be paid to Expats. 100% ! You are right - the 'rumour mill' is going crazy atm !! Partly caused by Govt. leaks to test the water which IMO is pathetic. Decide what's right to do, in balance, and get on with it I say !

Scuba - many are observing that there's not too much between Tory and Labour tax/economic policy atm but let's face it, Labour will always tend to favour taxing higher income groups and the more well off - they won't be inhibited so much by the worry of causing offence in that sector ! Also, remember that the UK Govt know what incomes most Expats have, (as long as those incomes arise in the UK), so they'll know, for example, that I for one, am NOT loaded. ATB

CH - "I see the tax free lump sum option in private and company pension schemes as a sitting duck." That's a different subject of course but a possibility I agree.

I'll stand by this - "IMHO there is ABSOLUTELY no chance of that happening. NONE AT ALL." I promise to humbly apologise if I am wrong . . . Just musing about those on a state OAP only - I mean how much is that ? Say GBP 500 a month ? GBP 6,000p.a. Paying 20% on that would leave GBP 4,800p.a. THAT would be unbelievably cruel to those also already outside the UK benefit/healthcare system by virtue of being abroad. Many would go home and cost the UK far more than this paltry saving. IMO this alarming proposition, just ain't gonna happen !

Personally, over 70 as I am, I buy a normal air ticket and just go through the 'Priority' channel at security at BKK when leaving, and on return, late September, I did the same - though the priority channel on entry has now been moved to the adjacent left of the main entry point. (It used to be 20 metres further on). No problem. No pre booking. No fees. No hassle. If you are disabled, the Airline should take you right through that same route. ATB

Hey Gud . . . Your "I was talking to a friend here two days ago who used to work in investment banking in London, so he's not daft about financial matters, and he said he'd heard a rumour that the tax-free allowance for expats would be removed completely. That would cost most UK expats around £2,500/year, so not at all nice if he's right." 'My M8 heard a rumour'. I'm sorry but is no basis on which you should assemble your fears . . . IMHO there is ABSOLUTELY no chance of that happening. NONE AT ALL. What would be the point anyway ? as it would raise bigger all in revenue and lead to a deluge of returning Expats being put up in the UK at Govt expense. I'm sure your GBP 12,750 threshold is safe. IMO relax. ATB

TallGuy you say the pandemic isn't over and that's right - also close to home, as my Wife tested positive today !! I'm OK so far . . . Yes I've heard of a combined flu/covid vaccine many times before but the point is, they only cover known variants ! Of course it helps but could be better. 2nd Generation vaccines are needed of a more universal nature, probably addressing the nucleosid (core) of the protein (which doesn't mutate quickly) rather than the spikes, (which mutate constantly). Something like this : "The Phase 1 trial is testing Scancell's two clinical candidates, SCOV1 and SCOV2 (COVIDITY), which in preclinical models have induced high titre antibodies and potent T cells against both the S and N antigens, including responses that cross-react with the Delta and Omicron variants. The objectives of the trial remain to assess the safety and immunogenicity of COVIDITY, with study data expected to be available in H2 2022. To date, 22 vaccine-naïve subjects have been enrolled and the COVIDITY immunisations have been well tolerated, with no safety concerns." ATB

Dionigi I agree. Not every Scientist but every Covid Scientist . . . . I guess the original thought came from a specialist source in fairness.

Alex re. this - "I often think the 'greatest folly of our time' might in the end, prove to be flippant and ill thought out misinformation and appetites for conspiracy." I presume that's what you are objecting too in your last. I'll stand by that. I accept there is misleading 'data' from the Authorities/MSM sometimes too - e.g. transmissibility and vaccines. However, conspiracy kneejerks are really destructive and even a danger. It's attention seeking stuff for those who wish to 'know better', usually, without the facts or the Science. BFN

Alex - hype ? No, Scientists are trying to evaluate a new variant that's become apparent. It's that simple. Don't you want them to look ?

Thanks that's a useful report. I dislike wearing a mask just the same as most people, BUT they have to be worn to reduce transmission - that's been obvious all along, except to Boris Johnson maybe ???? The vaccines were not researched for transmissibility before they were launched and although there were great 'hopes' on that front, later data tends to show that the vax had only a limited effect. Masks are OK. A bl**dy nuisance to wear, but there it is. Take it on the chin FGS !

The market worldwide for Covid vaccines shrinks as the pandemic largely disappears and endemic status prevails. AZ are probably fighting an uphill battle in the USA anyway, as mud sticks to perceptions about their original vaccine. Bi-valent vaccines such as AZ 2 are being pushed for vulnerable groups but we need a genuine 2nd generation vaccine more of 'universal' nature, i.e. not just addressing existing variants. AZ, BioNTech/Pfizer and Moderna face large drops in revenue in 2022/23 if the 'pandemic' stays quiet . . .

Of course new Covid variants give rise to renewed fears amongst Scientists studying viral matters. The reaction to BA4/5 was the same.

Crunch that would have been the fate of my own house in a walled 2 rai. I was lucky to sell at a profit moreover. I offered the Selling agent DOUBLE commission to be sure the sale got attention.

Nigel your opinion is quite clear but I assure you, I did it. 'Glowing Health (Thailand) Ltd' now defunct. The Lawyer is now a Judge too so he knows a bit. Could this differ from province to province ? ATB

Judge Giles - I echo the advice to RENT but, there is a way to 'own' the house through a Company. This was 10 years ago but if I remember, the Falang can own up to 49% of the Company and therefore the property, but I relied on 33% for me 33% my Partner and 33% my trusted Lawyer. If you have no Partner to consider, then you have to 'concede' 51% which could be jointly held by say, a trusted Friend and Lawyer. At the time, my Lawyer was excellent and even oversaw the building of 300 m of perimeter wall while I was away. But better to rent !! (The Lawyer is in Korat but operates in BKK too)