MistyBlue

That's a good question and I'm afraid I don't know the answer. HMRC guidance RDR1 seems to set out the rules, but... it's complicated. Nom-Dom status is a pretty rare beast though with annual fees of either £30000 or £60000. I would wager that there are very few (if any) non doms reading this forum for tax info. I would say a very high proportion of people reading here would fall under the guidance given in HS284 to work out the example you set out earlier .

This becomes a "Section 104 holding". An example of how to work out the gain is given in HMRC helpsheet HS 284. Need to use the PDF example 3 shown in this link: https://www.gov.uk/government/publications/shares-and-capital-gains-tax-hs284-self-assessment-helpsheet

I also hold this (and the Quilter equivalent) but now keeping under review after the entire management team of this fund walked out with no notice a couple of weeks ago. I might take the original investment out and keep the profits invested to see where it goes with the new managers, but still undecided.

This is not correct. The UK state pension is taxed. You might be getting confused with the method in which the tax is collected on a state pension, often through other streams of income.

On this point, in the 2023/24 PWC booklet (link here: https://www.pwc.com/th/en/tax/thai-tax-booklet-2023.html) on page 2 (their numbering or actual page 10) they have specifically underlined the quote "... a Thai resident" in the context of discussing the new requirements for remitting funds. Happy to be challenged but now my reading of that section in its fullness with the underlined text is that tax is only required when remitting funds in the same year that one is tax resident, if not resident when the funds are remitted (even if they were previously earned and kept offshore when one was resident) then I'm now leaning towards that no tax is due. Thoughts?

I took your advice and emailed them again and received positive news. I specifically asked if they would accept a statement from the purchased annuity provider as the income would not be included on a tax return and received this encouraging response: "Dear ****** We generally consider tax returns as the primary evidence of income. However, if your country does not require you to pay taxes, you must include a statement explaining this in your application. Additionally, you can submit other financial documents such as broker statement such as the example you mentioned and bank statements as proof of your income."

An update on my earlier question about purchased annuities (thanks @Pib for your earlier reply). After contacting the BOI it looks like a purchased annuity wouldn't be able to be used to satisfy the income element. I emailed the BOI and asked them this question: "Hello Please could you tell me if a "purchased annuity" would satisfy part of the income requirements for a wealthy pensioner LTR? (Note: A "purchased annuity" is a product available in the United Kingdom to pay a fixed income for a fixed number of years). I would be grateful for your reply Regards" Their reply was this: "Greeting from LTR Visa Unit. If your income does show in your tax report such as SA100, then it is possible to accept it as part of your passive income." As only the interest part of a purchased annuity shows up on a UK SA100 tax return (a tiny % of the overall income amount of a purchased annuity) then it would seem to rule it out. If there are any reports in the field of anyone applying and attempting to use a purchased annuity would be interested hear of experiences.

Does anyone have any experience of using (or can comment) on using a "purchased annuity" to part satisfy the income requirement for a pensioner LTR?

Thanks for the response and clarification. This scenario might be a useful consideration in answer to the original post at the start of the topic.

Thanks. I fully agree with you. My post was discussing funds remitted under a specific scenario.

This seems an appropriate thread to raise discussion on the following scenario. Looking in to the future, say one is a Thai tax resident for 2024 and 2025 but remit none of the income made overseas. In 2026 go traveling and only stay in Thailand for 5 months (under 180 days) and in that year remit the overseas income for 2024 and 2025, no return needed in 2026 as not tax resident for that year. Then in 2027 stay more than 180 days and become tax resident again, the unknown (to me) is whether there would there be a liability for past income remitted into the country that was made when one was a tax resident. I raise this because all the information I've found so far discusses income made and remitted when resident, but not income made when resident but remitted when non-resident. Maybe one to watch unfold in the future...

I have three items of feedback: 1. Thanks for putting the disclaimer at the top, that puts my mind at rest - thank you. 2. I believe the statement on credit card transactions in item 16 is misleading. Credit card transactions are not income remittances, they are credit or loan remittances and the new interpretation only deals with income remittances. We may yet hear further clarification in this area which is why I believe this should be removed from item 16 and added to the end of the document in the unresolved issues section. 3. The old thread is still pinned to the top of this section of the forum. I suggest that is unpinned and this new thread is pinned instead.

The 22/23 PWC booklet explicitly states a tax return is required irrespective of whether any tax is due (pages 13 and 14). https://www.pwc.com/th/en/tax/assets/thai-tax/thai-tax-2022-23-booklet.pdf

See pages 14 and 15 of this booklet: https://www.pwc.com/th/en/tax/assets/thai-tax/thai-tax-2022-23-booklet.pdf

I came across some information on this matter after researching another topic. It's covered in PWCs 2022-23 tax booklet on page 15. Link here: https://www.pwc.com/th/en/tax/assets/thai-tax/thai-tax-2022-23-booklet.pdf I also found a lot of other useful information in the booklet, so hope they produce an updated one with the new interpretation for 2024 at some point.