Mike Teavee

I don't see how they can link it to you but I read on another thread that you're allowed to "Gift" up to 20Million so you would just say it was a gift (One of my "Plans" is to "Gift" the GF 1 Million Baht each year & let her pay all the bills) ???? I've mentioned this scenario before on another thread but every year I give my mate approx. £10,000 in the UK (money for his Kids presents & money he invests in the UK) & he pays me back in Thailand, I guess technically it could be said that I'm bringing this money into Thailand but how would they ever link the 2 things together? & if he's paying me back £3,000 125,000b for a flight to the UK that I paid for am I really bringing this money into Thailand?

Depends where the money came from that you Transferred, e.g. If you got a $20,000 dividend & added it to $80,000 savings to transfer $100,000 for a Condo purchase then the $20,000 is taxable (DTAs & Tax already paid aside).

This year, Think of it as Building Blocks with any additional Income/"Block" going on top of previous savings/"Blocks", if you move any of the Blocks you start from the Top and work down. So in your Scenario, 200K earned would be taxable (DTAs & Tax already paid aside) but anything over this would come from your 1Million Savings.

My plan was* to use the money as the $250K Investment I need to make to get the LTR Visa (My Income will be > $40K but < $80K pa so I need to add the Investment to qualify). *Still is the plan, will just do a Hotblack Desiato (https://en.wikipedia.org/wiki/Tax_exile) for 1 year & declare myself dead, well non-tax resident, to Thailand

The way this is normally done (e.g. for calculating Capital Gains on a Share Sale) is LIFO (Last In First Out) so if you transferred money from your account to Thailand & showed them your home country bank statements (Which you need to do as part of a Tax Return), they would go through any interest earned in that Tax Year & say that part of the Transfer was the Interest earned. Big difference now is they can go back any number of Tax Years Of course this gets more complicated as in Future Tax Years you somehow need to be able to say that some of the Interest has already been taken into consideration for Tax purposes :S

The more I think about this, the more my head spins... In 2 years & 4 months (not that I'm counting) I'll start to receive my Private pensions & am planning on taking the Tax Free Lump sum (which has obviously not been Taxed), if I were to transfer this to Thailand would I be liable to pay Tax on it? If yes then I better start planning where I'm going to live for the other 186 days of 2026).

I have a "Current Account" Mortgage (Essentially any money in the account is offset against the mortgage owed when it comes to calculating the interest each month, e.g. I have a little bit more money in there than I owe so they pay me approx. £2 a year in Interest). So could I send any of this money to Thailand & legitimately say it's Savings (The money originally came from my taxed salary in the UK) & then replenish the money from dividend/capital gains income which have been taxed appropriately in the UK (I do a Tax Return every year)?

It depends on whether any part of the $15,000 was interest.

Generally the LIFO (Last in First Out) principle is applied so if you had £10,000 in your account, received £10 in interest & sent over £100, £90 would be savings & £10 income/taxable. Will be interesting to see how the RD approaches it & I can't wait to see how they're going to understand the local Tax regulations for the other 194 countries in the world, no doubt we'll have to have any supporting documents translated to Thai ????

I sort of agree with you, but the basic premise of Tax Law in Thailand is if you spend < 180 days in-country in any one Tax/Calendar year then you are not Tax Resident & you are not liable/eligible to even have to file a Tax Return unless you earn an income in Thailand. So if I leave here at the end of 2023 & pop back for a short (< 179 days) holiday in 2024, Thailand has no claims under it's own Tax regulations. Might cause me problems in the UK (I'm not Tax Resident there either) but trust my accountant there to do my UK Tax return (The only place I get any form of income from) more than I would anywhere else.

No that's the mother in law's, she's sick of having her transport stolen...

Lol, that was the character Hedley Lamarr, played by Harvey Korman ???? Apparently Hedy Lamar sued Mel Brooks for it & it was settled out of court in her favour.

Not sure which bank you're with but Barclays T&Cs say all account holders must be resident in the UK... https://www.barclays.co.uk/important-information/living-outside-the-uk/#:~:text=An incorrect address could affect,to be in the UK.

Just curious, do your friends that stay there say anything about using the short cut from the back of the property towards the beach at night only I’ve read a couple of reports of people having problems with Soi Dogs at night. No problem for me as I always have an extendible umbrella in my bag when I’m going out which is enough to make them think twice but I was thinking it might be a problem for some people.

It depends on where the 40K came from, if it came from income, dividends, capital gains etc from previous years then DTAs aside they seem to be saying you could be liable for tax on it. I used the example where I got £100K “Pension” handed back to me when I changed jobs in Singapore, transferred this money to the UK & invested it in shares to give me some income now I’m retired (without a pension for another 2.3 years)… No tax has been paid on the principle (Employer made all the contributions) so technically if I sold the shares & remitted the money to Thailand it looks like I could be liable for tax on all of it.

Thanks, I quoted the annual fee per SQM but typically it is quoted on a monthly basis so 53.57 pm is a better metric. Given the quality of the common areas & facilities (4 swimming pools, 2 gyms, children's play room etc...) I think that's very reasonable but I wasn't impressed with the build quality of the actual condo unit itself so don't think I would ever buy there.... Would be happy to go back there as a renter though. Edit: For a really great view of Riviera Wongamat Block B, check out this video (FFWD to 1:25 if the music isn't to your taste)... Unfortunately I no longer have the raw footage that was shot from a few angles but he opens way to late & was lucky not to have seriously injured himself.

Because I was only renting, it's the owners responsibility to pay the common fees.

I lived in a 2br 2bth 70sqm unit at Riviera Wongamat & would get the bill for the common fees (obviously I didn't pay it), IIRC it was a little over 45,000b pa so I would guess 650b per sqm.

All of the Riviera Projects (& The Palm) officially allow small dogs & cats & the management/security are very strict on any rentals less than 30 days, plus the entrance doors at Riviera Wongamat require Facial recognition for which you need to register with the management office so no >30 days contract, no facial registration, no getting in the front door.

In the UK it’s where you are at midnight that counts, so if you landed at 23:55pm but didn’t get through border control until 00:05am you weren’t in the UK on that date

No, the rules are very clear... < 180 days in any 1 calendar/tax year = Non-Tax resident. Besides it's relatively straight forward to open a bank account even on a Visa Exempt if you're willing to pay an agent 3,700b (4,700 if >64).

As has been posted already, if you're from the UK & not an Ex-Civil Servant/ Armed Forces then your Pension is not covered by the Double Taxation Agreement & so could be liable to Tax in Thailand. I've decided that if the worse happens & I am liable for Thai tax on my UK Savings/Income (I've filed a Tax Return every year since I was 18 so know I've paid whatever taxes are due in the UK ), I'm simply going to do 1 year in every 3 as a non-Tax resident in Thailand & bring enough money over that year to live on for the 3 years... Let's see them tax that.

My answer is NO... Any changes will start from next year so anything you bring over before then won't be taxable.

The more I think about this, the more it blows my mind as to how I could honestly report where any money I remit to Thailand came from & what Tax was paid on it. E.g. I worked in Singapore for 10+ years & the way Pensions work there is when you leave (or change jobs) they give you the money that you've accrued in your pension for you to do with as you please, after the 1st 6 years I changed jobs & transferred a large amount of "Pension" money to the UK to invest for when I do retire. No tax was due in Singapore (Employer made all of the contributions) or the UK so if I were to sell the shares & remit the money to Thailand would I be liable for Tax on it even though both countries have a DTA with Thailand? Seems to me the only "Safe" approach is to just alternate between being Non-Tax resident in Thailand for 1 year in every 3 or 4 & bring enough money across in that year to live on for the other 2 or 3 years.

Think it was recommended on here months/years back but I’ve just started watching Scott & Bailey, big fan of UK Police Dramas so really enjoying it. https://m.imdb.com/title/tt1843678/ Newer recommendation landed on Netflix today… The Wonderful Story of Henry Sugar https://m.imdb.com/title/tt16968450/