Mike Teavee

No, if you're entitled to UK State Pension you'll get it, "Foreigner" or not ???? If you are (or at least were originally) a Brit, I do think it will be frozen though as they will just look at where you're living... rather than your "Nationality"

TBH I didn't get it (at all) so maybe somebody could explain

As discussed previously, if that's your only income in the UK it will be taxed at 0% up to £12,570 (currently) & according to Rule 5 https://www.rd.go.th/english/23520.html you won't need to pay any additional tax in Thailand on it. It will be interesting to see if you get a "Frozen" pension (i.e. your pension will stay the same as at the date you claim it & you won't get annual increases), I'm assuming you will (as us Brits who are not Thai Citizens get/can expect) but I don't know if you are/were British and if the same rules apply to you.

Lol, my GF (has a degree in IT so speaks English very well) is the absolute worse teacher of Thai that I've ever met & if she isn't deliberately sabotaging me from learning Thai she's doing a very good job of it. She's from Satun (Way down South) so whilst she can speak & understand "Central Bangkok" Thai, she tends to speak the Southern dialect... E.g. instead of "Nit Noi" (a little bit) she will say "Nit Neiow" (obviously phonetic), when we visit her family they give me blank stares when I say "Nit Noi". Still laugh at the time on Koh Samui when the Thai Restaurant owner asked me to translate for her ????

If you watch the video, he explains quite clearly that the 1,500b for an agent is amortised over the year... As you do with annual expenses when setting a monthly budget. Your costs are just that, "Yours", no one else is going to have exactly the same costs as you, living in a 5K room or a 15k hotel room is my idea of hell, I'd rather stay in the UK than do that but that's just Me. The point of the video is to give people an idea of what kind of expenses they can expect & anybody with an ounce of common sense would know to tweak the numbers as appropriate

The Maldives (Laguna Beach Resort 3), whilst being a very nice condo resort with awesome pools, isn't exactly in a prime area (I described it as the "4rse end of nowhere" when I did 5 days there) so it's going to be quiet at the best of times, visiting off season you're going to find it very quiet.

Thanks, that's a hugely important piece of information as it would seem to mean that any income covered by the Double Taxation Agreement/Treaty that has been tax assessed/paid in your home country would not incur any additional Tax in Thailand.

I agree but allowances (Both in Thailand & the UK) depend on personal circumstances so I deliberately left them out to try to answer the question about how you could be liable to Tax on your Private Pension in Thailand, despite it already being assessed for Tax in the UK, as simply as possible. If I was to do it for me personally, I'm eligible to 60K Single Person Allowance & 25K Health Insurance allowance = 85K, so tax on the 560Kb could be.. - First 235K (150K + 85K) taxed at 0% = 0 - Next 150K taxed at 5% = 7,500b - Remaining 175K taxed at 10% = 17,500b Total = 25,000b Tax

Thanks for this, I filed my 1st Tax Return this year to reclaim withheld tax on interest from the Bank in 2021/2022 & it was such a hassle (+ still haven't received the money 5 months after the status was updated to "Successfully submitted (Receipt issued)" ) that I wasn't planning on doing it again (I only did it this year as I had to get a TIN for my UK Bank) so it's good to know that it's optional if I'm not receiving any income in Thailand (I'm living on Savings I brought over in 2020/2021).

It all depends on how the agreement is applied... E.g. A very simple example, you have a private pension of £12,500 pa (Approx 560,000b) which would generate no Tax as it's < the £12,570 Personal Taxation Allowance but your PTA in Thailand is 150,000 (Ignoring additional allowances), in a worse case scenario you could be liable to tax on all of it when you transfer it to Thailand . - First 150,000 taxed at 0% = 0 - Next 150,000 taxed at 5% = 7,500 - Next 200,000 taxed at 10% = 20,000 - Remaining 60,000 taxed at 15% = 9,000 Total Tax = 36,500b pa

UK does have a DTA with Thailand (1981) https://www.gov.uk/government/publications/thailand-tax-treaties Somebody has already posted the link to the complete (iirc 61 countries) of DTAs along with links to the treaties, a summary of them can be found here... https://taxsummaries.pwc.com/thailand/individual/foreign-tax-relief-and-tax-treaties

This video might be of interest to the OP's friend... It shows an example budget... ... and breaks it down so you can adjust it to your particular needs (e.g. We have friends & family visit a few times of the year so I go for 2br 2bth Condos near the Beach so obviously my Rent & Electric is a lot higher)

For IPhone Users: https://ios.gadgethacks.com/how-to/prevent-thieves-from-turning-your-iphones-airplane-mode-so-you-have-better-chance-track-down-0384535/

Are you sure you won't have to pay more tax overall? I have no idea how US Taxes work, but to use a few examples from the UK where additional tax may be due:- Tax Free withdrawal from a Pension, in the UK you can take up to 25% of your pension pot Tax Free (I believe you guys can do something similar with a Roth IRA). Where your Personal Allowance is > than the Personal in Thailand thus some of the income is untaxed (or taxed at the 0%/"Nil Band" rate). Where you have income from a Tax free asset (an example would be an ISA in the UK). Income from Rental, in the UK (and I've read US) you can deduct all maintenance costs, professional fees etc... so you're only taxed on the Net amount, in Thailand (I've read) you cannot deduct all of these fees so are taxed on a much higher amount. Dividends, in the UK you do not need to pay anymore than the Withholding Tax. Interest from Bank Accounts, in the UK you do not need to pay tax on the 1st £1,000 interest. Capital Gains, in the UK you do not need to pay Capital Gains Tax on profits from the sale of non-property assets. Appreciate these are all examples from the UK, as I say I don't know how Tax works in the US so don't now if any of these would catch you guys .

Depends on whether you were Thai Tax Resident in the years the income was earned & what Tax was paid on that income. E.G. I moved to Thailand full time in 2020 so any money I bring into Thailand that was earned before then is not taxable.

Another reason why taxing on remittance doesn't work & why most countries that tax foreign income, tax you on it whether you bring it into the country or not (Not that I want Thailand to do this as it would mean even more Tax to pay for me, but that is the only way I can see this working).

That would be the case if the "Not Sent in The Same Tax Year as Earned" rule was still in place but from 1/1/2024 they're saying income earned in previous tax years is taxable. So if the money your sending was from income in previous years then it is (DTAs aside) taxable. E.g. let's say in 2024 you get $15,000 in dividends, $15,000 in rent & $5,000 in interest, if you sent this $35,000 in 2025/2026/2027 etc... it would be taxable.

I believe it's only the letter confirming how much money you have in the bank (& your last entry in your bank book) that needs to be on/close to the extension date, Should be OK to get a 6 month statement produced & then get the 2nd 6 month statement a few months later. BUT as always, it depends on your IO so I would asked them beforehand.

50-60K at 60 is my expectation, when I renewed this year (just before my 57th birthday) I paid 31K (after a 10% no claims discount) which has 3.5M inpatient (no outpatient) cover & a 100K deductible.

154b pw (8K pa) if you meet all of the financial/insurance requirements, 241b pw (12,500 pa) if you don't meet the financial requirements + another 50bpw (2,500b pa) if you're on a Non-OA & don't have the insurance.

I believe your local branch can do statements of up to 6 months (I've had no problem getting 3 month statements from them) so could you not order a 6/9 month statement from head office & then get a local statement after your 1st December transfer hits.

If it's a sole account in your name your Son would not be able to close it after your death even if he has a POA as your account would be frozen until the Probate has been sorted out. If it's a joint account then the money should automatically revert to him (Rule of Survivorship) BUT this could be challenged by other people who have a legitimate claim on your estate (e.g. if you had other children). This article describes one such instance where the joint account holder (her son) was forced to pay the money back to the estate https://www.gadlegal.co.uk/news/elder-law/the-inherent-dangers-of-joint-bank-accounts

Well that's what I was asked for when I filed my Tax return this year to claim back Withholding tax. As an aside they also asked me to complete an income questionnaire & almost every question was about pension income to which I replied N/A as I don't have any. Still waiting to get the tax back 5 months later.

Your UK Pension will always be taxed in the UK though the 1st £12,570 will be taxed at 0% rate (subtly different than saying it's "Tax Free" but the end result is the same). Your work/income in Thailand should be taxed in Thailand though it being online might make things less clear, I would say if you're paying tax on it in Thailand today then it would stay the same.

You have to provide copies of your home country bank statements so they would easily be able to see money coming in & could ask you to show where it came from.