worrab

Never had a hose burst so I cannot see what you are worrying about. Why would the hose burst anyway? They are sturdy and therefore no problem.

It seems that Siam-Legal has one interpretation and Carl Turner Financial Success a different interpretation. Either way it will be under 100 million baht so as you rightly say, it will not matter.

You are quoting from anyone who is receiving inheritance from within Thailand. My inhritance is coming from my late Mother's Estate in the UK and is NOT subject to being taxed by RD. The following statement comes from Carl Turner Financial when I had discussions with him regarding tax issues. "Future inheritance. This is not taxable as income. Make sure you keep all the documents to hand in case you are asked. It makes sense to call your bank to inform them that you will send a lump sum which is from inheritance, so that the amount isn’t blocked until it is audited."

This was put up so that Kinnock might get a guidance to what the rate of tax and guidance is about. He is the person that needs to read the complete guide. For me personally, I have stopped all pension transfers here and ensured I had enough for us to live on with payments I made in 2023. Then I am getting an inheritance payment fairly soon which is exempt from taxation. That amount is enough for us to live on quite comfortably.

So here is the table of taxation rates and allowances. Zero tax could be possible? Taxable Income per year(Baht) Tax rate 0 – 150,000 Exempt 150,000 – 300,000 5% 300,000 – 500,000 10% 500,000 – 750,000 15% 750,000 – 1,000,000 20% 1,000,000 – 2,000,000 25% 2,000,000 – 4,000,000 30% Over 4,000,000 35% a. Personal Allowance for self - 60,000 b. Personal Allowance for wife - 60,000 c. Over age 65 years exemption - 190,000 d. 50% of pension income received, up to 100k - 100,000 e. In addition, the first 150,000 of assessable income is zero rated and free of tax

With your allowances here and the tax ladder, I doubt very much you will have any tax to pay. Plus your proof of having paid tax in UK.

Yes, you are okay as I always book the Saver ticket as well. The chauffeur drive is an absolute godsend for me. I was swopped to a 777 BKK-DXB a couple of years ago. Still had the window seat but it is 2-2-2. Still comfortable but not the same a the 380 and no bar!! I better check my July flights then. Lol

Emirates is the same if you purchase the cheapest Business Class ticket. No lounge access or chauffeur drive.

I have absolutely no time for people like yourself who make posts like this. Blocked!!!

Seems a shame that posters like yourself can make comments like this when my post was made in an innocent reply to another post. This is becoming a problem with this forum where people just like to make inflammatory remarks like these. Pathetic!!

I ensured when I first came here to retire that I would have the money available! Did the research into what would be required for extensions based on retirement when coming here in the years before retiring. Would have thought that anybody doing the same would ensure they can meet the necessary requirements to enable them to do the same without any worries. So the question has to be asked as to why they do not have the money??

I use Hua Hin for my annual extension and do not use an agent. Have the money in a separate account which just sits there and makes a little interest. Cannot see the need to pay out for an agent when the renewal and re entry takes around 35 minutes!

Yes it is a round business class and last year the price was around the THB 140k, hence it being a great deal cheaper. And they are cheaper than many other airlines as I always have a good look around. I am more than happy with the price next year especially as the lounges and chauffeur drive really do suit me as well as the onboard service which I cannot fault.

Actually checked this in my Bangkok Bank last week and their exchange rate was better than Wise! I was very surprised but that was the case.

All I can say is that I use Wise and the max that can be sent is 2 million baht in any one exchange. This never makes sense to me as there is no limit as to what Bangkok Bank will accept. Have you looked into your UK bank sending pound sterling to your Bangkok Bank? They will then hold and exchange to baht in 7 days and it is a good exchange rate. The only reason I know this is because of having inheritance money sent to me which is well over the 2 million baht limit and I made enquiries with my manager at Bangkok Bank. No harm in asking yours.

So, you are saying that, for instance, my combined pensions including state pension on which I pay UK taxes would then be liable to be taxed again in Thailand when remitted here?? Not the impression I had from my financial advisor who stated the UK tax paid would be credited against any Thai tax owed. Not that this will affect me as I am keeping the pensions in UK

This is what I have been led to believe. Any income tax paid to HMRC will not be taxed when remitted here. It will be credited against any taxes owing here. Another case of a forest worth of paperwork which we know the Thais love!! And for UK expats, a P60 will be the evidence required if needed by RD.

From discussions I have had with my financial advisor, TINs are only required if you are remitting finances to UK. In my situation because I will be receiving funds next year from an inheritance, tax free in Thailand, this will be sent to my Thai Bank. This is more than enough for myself, wife and son to live on. So my pensions which I used to transfer here will now remain in my UK bank so I have funds for when I visit. Therefore there is no need for me to register for a TIN.

I was under the impression that if you pay taxes in UK then there is a DTT so, on the self assessment form done here, any taxes paid in UK are then credited against any tax owing in Thailand. Surely if there is a DTT agreement then it covers all taxes and not just some. So can you show where it states DTT does not cover pensions?

I had no problem booking in October for 24th November at Hua Hin.

Rational FX have sent out the same!!

In a nutshell, if you remit any finances into Thailand and you live here more than 180 days a year, then you will need to register and obtain a TIN. Then fill in a self assesment form every tax year. Any income taxes paid in UK, for example, will be credited against any Thai tax due. This is IF everything kicks off on Jan 1st.

I think you would need to read this in context. You may well be exempt from paying taxes but you may need to still register and get a TIN?? I do not know hence checking with a Financial Advisor such as Carl Turner who is very clued up on the subject. He has actually had meetings with RD to get the correct information.

From what I can gather, I make you right. If you are remitting money here after Jan 1st 2024, then you still have to register, get a TIN and then file a self assesment. Because of the Dual Taxation Treaty there will be no tax to pay and this would be credited against any tax owed.

You may well be right. You would have to fill in the form showing the income and then show the tax paid in UK? which would then give you credit against any tax that would be owed. It might be worth you contacting an advisor such as Carl Turner who would be able to advise you better than we can on a forum.