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Mike Teavee
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Posts posted by Mike Teavee
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4 minutes ago, alanrchase said:
I already have a single Will in the UK which covers five jurisdictions including Thailand.
When I looked into this I was told that I would need separate Wills for UK & Thailand even though I plan to leave everything to the same person.
Has your Will be translated, motorised & accepted in Thailand?
Quick Google says your UK Will could be valid in Thailand as long as it’s been translated & approved by Ministry of Foreign Affairs & even then it can only be settled in a Thai Court.
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2 hours ago, alanrchase said:
Agreed that the foreign Will would not be approved if anything in it contravened Thai law. Would still like to know what a Thai probate court requires when considering the assets of a foreigner. I would have thought they would need to see all the valid Wills a person has to check for conflicts. If that is the case the foreign Will would need translating as well so why bother with separate Wills?
Whilst it’s technically possible for a Will in 1 country to cover assets in certain other countries, I don’t believe Thailand is one of those & so don’t think they’d be interested in the contents of your other Wills.
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1 hour ago, jvs said:
Remember the moment you die it will be illegal for anyone to take money from your bank account
If you have a Joint account then on your death any monies in it will pass to the other account holder (law of survivorship).
NB it doesn’t mean that somebody else couldn’t lay claim to the money so best to have a will anyway, but it’s 1 way of making sure your partner has money to tide them over until the Will is processed
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On 10/26/2023 at 7:28 AM, redwood1 said:
Yea right, how many Thais have a TIN?.....I bet most Thais do not have one....
I thought all Thai's had a TIN, it's their National Identity Number
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6 hours ago, OJAS said:
Will let you know as soon as I get a new one but I’m guessing it’s the Unique Tax Number
Certainly not going to be the Government Gateway ID (I have about 5 of them, I’m bad at remembering passwords so need to create a new one when I forget) or any “Fixed” number like my NH Number.
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1 hour ago, noobexpat said:
I think the only way he would know that is if he had received the number. He hasn't.
Exactly, sent to my old Thai address but apparently it expires in 1 week so I doubt I would get it in time even if they had my correct address.
Fortunately HMRC (& my accountant) have my parents address as a correspondence address so have asked them to send it there
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Just now, JRG23 said:
Does anyone know what this means?
Think it’s supposed to be ROTFLOL…
Rolling On The Floor Laughing Out Loud
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3 hours ago, Mike Lister said:Nobody other than the doom mongers have suggested that would happen, I think there is zero percent chance that it would.
Obviously some guys who are living to their income will spend less money in-country as they won't have the same amount of (after tax) money to spend.
But even guys who have some headroom in their budget might spend less, in my case I'll simply switch from holidaying In Thailand to holidaying elsewhere & pay for these using my UK Credit & Debit cards.
Obviously my fixed costs (Rent, Mobile & Netflix etc...) stay the same but the net result would be less money coming into Thailand (= less Tax 😉) & less money spent on hotels, in-country travel, restaurants, bars etc.. even groceries in Thailand.
OK, so not everybody likes/wants to travel, but I'll go at any excuse so if I get it into my head that anything I spend overseas is being 35% funded by the Thai Tax man then I'm just going to travel overseas even more 🙂
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On 10/19/2023 at 7:15 PM, Dogmatix said:
You asked for evidence that, in cases where the Thai tax is greater on foreign sourced income, the taxpayer will have to pay the difference. Here is a ruling from the RD in a 2004 case relating to double taxation of individuals that embodies this principle. https://www.rd.go.th/24356.html
Yet from Rule 5 in RD's own FAQ on DTAs... https://www.rd.go.th/english/23520.html
5. What happens if the rate of tax stipulated in the Revenue Code is different from that of an agreement?
- Apply the rate which is more beneficial to the taxpayer.
Which to me says that anything that is covered by a DTA will not have additional tax applied to it even if the rate is higher in Thailand.
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1 hour ago, Mike Lister said:
Presumably, the new rules do not apply to those of us who are not UK resident for tax purposes but are UK landlords and who use a UK accountant to file our self assessment returns?
I think they do apply to you as I’m in exactly the same situation as you & it was my UK accountant who made me aware of the need for a new SA number.
Good news is your accountant will have the software so I doubt there will be any need for you to have it.
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1 hour ago, Eff1n2ret said:
All landlords and self-employed people earning above £50,000 will need to have compatible software in place by this date."
I read that as all landlords earning > £50K but now you mention it could be read as All Landlords… … … PLUS self-employed earning > £50k!
Hopefully it will be the 1st interpretation or it’s just one more kick in the nuts for guys who are just renting out their old home. -
5 minutes ago, Eff1n2ret said:
Thank goodness that by this time next year I will no longer be a landlord.
Am thinking exactly the same…
I’m not a “Landlord”, I lived in a house that I worked hard to buy & the company I worked for asked me to go work overseas… 3 years it sat (Semi) empty (my Ex lived in it 2-3 days per week) until a mate in desperate needs asked to rent it & that’s when I became an “Accidental” landlord…
Return is <3% pa (after management fees & maintenance) would you invest in an asset like this?
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3 minutes ago, The Cyclist said:
Might be something to do with this
https://www.xero.com/uk/programme/making-tax-digital/self-assessment-changes-mtd/
Thanks, will read it in detail when I get home.
1st thought is that I wish I earned £50K pa as a landlord (or even my total income in the UK!), but I do use an accountant from when i did earn that kind of money so it could be they’re moving all their customers to that system.
Accountant seems cool with me using my parents address, they know I’ve been Non-UK Tax resident for 15 years, so am sure it’s all good 👍🏻Just curious if any other guys have been approached by HMRC with a similar request?
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40 minutes ago, The Cyclist said:
Snail mail, via airmail, from my pension providers takes about 6 weeks to get here.
Not received anything, but could it be something to do with Self Assessment ?
34 minutes ago, topt said:Can't you ask your accountant as presumably they know?
As The Cyclist mentions SA suggests Self Assessment but the only nos. I know are for the different sections and the tax calculation......
I also can't see how it can be time sensitive........
Of course! the accountant does my Self Assessment returns so "SA" almost certainly relates to Self Assessment - Why they need a new number after 16 years of them doing it (& 23 years of me doing them myself!) I have no idea, but apparently HMRC has told them I need a new one & so they issued it to my (old) Thai address, valid for 1 week...
Spoke to the accountant & they're happy to re-apply for a new "SA" number using my parents address in the UK (on the understanding that I am non-UK resident for tax) so hopefully will get it sorted next week.
Given all the recent talk about Thailand changing it's taxation of foreigners I started to get a little worried but it seems more something to do with HMRC changing their procedures/numbering than them coming gunning for me (Not that I have anything to hide after filing Tax Returns for 39 years... I'm "Only" 57!!!)
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Accountant who does my UK Tax return has emailed me to say HMRC has issued (& apparently physically sent to me in Thailand) a new "SA" number & can I let them know as soon as I receive it so they can update their records as apparently it's only valid for 1 week.
My 1st problem is, I forgot to tell them that I moved 2 months ago! (Fixed) - 2nd problem is, even if HMRC had my correct address in Thailand what are the odds of any snail mail arriving in 1 week, 3rd problem is I'm away for 3 weeks from next weekend!
Has anybody else received something similar? & what is a new "SA Code"?
TIA
MTV
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Changed phone just before Xmas & got the app installed/working with details (needed to get a reminder of my Customer Number & set-up a new Pin number, It was a 4 digit Pin not my usual 6 digit pin number) from the ATM.
Things could have changed with the new App version, especially as they've added the facial recognition part to it so clearly updated the security.
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23 hours ago, isaanistical said:
Bertrand is not French but Belgian. One of the apocryphal "six famous Belgians" that comprise him, Jacky Ickx, TinTin, Hercule Poirot and one other.
Lou Deprijck?
Composed Ca Plane Por Moi & the "Pattaya, Pattaya Song", died a few weeks back
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The Ex-Wife
https://www.imdb.com/title/tt13069604/
Tasha has the perfect house, a loving husband and a beautiful little girl. Her life could be perfect if it wasn't for Jen, her husband's ex-wife who just won't leave them alone.
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9 minutes ago, huangnon said:
Cheers, Mike. Just around the corner (Eastwards) from Mae Rim Phim, there is also the lovely Ao Kai bay, and a little grouping of bars and restaurants. Occasional surfing / skim boarding tournaments and music concerts bring in the younger (Thai) set on weekends.
Anyway, not to derail the thread, some recommendations for the OP on Samet:
Sai Kaew Beach Resort.
Ao Prao Resort.
Vongdeuan Resort.
Samet Pavillion.
All within the OP's price range, and I've had good experience staying at these places w/ family.
Thanks mate, sounds like I’m going to need 4-5 days then ????
I 2nd recommendation for Ao Proa resort, we always spend at least 1 day at the beach there but we tend to prefer Sai Kaew beach (have stayed at that resort & would happily stay there again) so Samed Villa is perfect for us.
for a cheap room (Not OPs requirement at all), you could do much worse than Blue Moon
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47 minutes ago, huangnon said:
That would be Mae Rumphung beach, and the view is of the lovely IRPC facility. ????
Mae Rim Phim is a bit further along the coast, and rather pretty good.
Thank you for correcting me, I am always on the look out for new beaches to check out so genuinely appreciate it ????
Will add Mae Rim Phim to my list of places to visit after we're done with her Brother "Passing Out" in the Army at the end of this month (That's a couple of days at Takiab Beach, Hua Hin) & my Parents visiting us next month.
Still say my favourite island/beach in Thailand is Ko Samed though ????
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1 minute ago, bignok said:
Are you ok? Your responses indicate a problem. Good luck.
I have the problem… Why are you even in this thread?
You’ve added zero value.You’re
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2 minutes ago, bignok said:
Wow dude. You called someone an idiot on a computer. You must be really clever and tough.
LMFAo, ,, you really are a sad joke.
And who is it hiding behind the Keyboard.
Whac-A-mole…-
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26 minutes ago, bignok said:
Not you at least.
Lmfao… you really are an idiot but I wont give you 1st place on my ignore list as I’m going to sit back & watch you make even more of an idiot of yourself…
Added absolute 0 (ZERO) value to this thread..,
Great Job ????????????????????????
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Just now, bignok said:You sound very tryhard. Samet is a typical tourist island. Just go if you love it. I dont care.
I am not trying at all, I answered the OP’s post with an answer that I hope gave him a little more information than he had…
What did you do?
Look, like a whack-a-mole you can keep making yourself look like an idiot or just leave it be.
The guy asked for recommendations on Ko Samed, he didn’t ask us whether he should go there or not (I’m guilty about suggesting a place on Koh Larn)
Peace…
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Recommendations for Last Will
in General Topics
Posted
I edited my reply to include a link that says it needs authorising by MOFA (presumably before your Death) & will be settled in a Thai Court.