noobexpat

Which one attracts those 30-year-younger girls you were telling me you could still pull? Its the fishing tackle isn't it! ????

I guess you set up wise with a thai address?

Maybe USA is better for you ...but you ain't finding a girlfriend 30 years younger there ????

But these are low socio-economic thai folks who are probably now experiencing a massive life upgrade ...courtesy of partner, of course. I love thailand for its social aspects - chatting with the locals so easily is something not many places can offer.

At what age? escalating at what rate?

OP was recently infecting a pattaya centric forum. Made about +100 posts in 3 months. All of them click bait nonsense, like he does here. After being mercilessly mocked, he gave up. It took a lot though. There's a lesson to be learned for the folks on here!!

Uk state pension is never tax free. Its taxed at 0% if total income is within personal allowance. Its also paid gross, but taxable via adjustment to private pension tax code.

Thats not correct, as you suspected. Both private and state pension is assessable under thai tax and could need to be taxed by thai instead of UK. Neither private or state pension is referred to in our DTA. The only exclusion is government pension.

This would be for new folks who don't have a tax number or historical filings though. It could be: send a return and we'll agree its nil tax and don't send any more. Or they could propose self certification, which appears to be your experience. The onus is on you to understand thai tax and international treaties. Consequences if you get it wrong and we find you.

But they won't know its null until they get it ...unless they identify USA citizen via pre-sorting or something ...??

You don’t understand tax.

Whether its taxable is irrelevant...its assessable. So why wouldn't a tax return not be needed? DTA is not the answer. That is the outcome, after the tax return.

Then stop calling it savings. The correct term is capital.

You set yourself up for a fall. Provide sort code and acc number and let it happen.

Well that bit is nonsense i'm afraid.

No doubt ...but you've arrived at the conclusion and ignored the annoying paperwork process to get there. 1. Receive tax return request 2. Establish conflict of interest to determine taxing rights. 3. Refer to DTA 4. Complete tax return 5. Wait for local tax office agreement

Look at the UK to spain expat situation for clues on the state pension. It is taxed locally under spains laws, apparently. It is also not addressed in the uk/spain DTA, same as the uk/thai DTA. That doesn't mean its taxed twice of course!

Pensions are written under a master trust and whilst not assessable for IHT , post age 75 death benefits can attract a 45% charge. Typically its the beneficiaries marginal tax rate though. Its not a complication, because it does not apply.

An accountant cannot even setup most IHT plans because they won't be regulated under the correct FCA controlled function - CF30 ?? An accountant will make a referral to their in-house or external financial adviser.

However you think this works ...its far more complicated. When assessing IHT there is a priority order that has to be followed. The outcome determines if any taper relief applies... Order of gifting 10 January 2023 Key points Lifetime gifts are taxed at 20% if the nil rate band has already been used up by chargeable transfers in the previous seven years A chargeable lifetime transfer can affect other gifts in the cumulation for up to 14 years before death (the 14 year rule) Chargeable transfers including failed PETs in the seven years before a trust is created can reduce the available nil rate band for periodic charges

Correct ...it would be called a gift with reservation Also the local council would be interested if there was a care home situation as it could be classed as 'deliberate deprivation'.

No, thats not how its applied. Taper relief is applied when there is an accumulation of gifts over the previous 7 years (can be 14 years) that subsequently then exceed the NRB. Relief is given to the tax bill ...not the actual gift.

You are not considering the situation of intestate. Probate cannot be granted until IHT bill is settled and the beneficiary has to setup a short term bridging loan if needed. These are arranged via the solicitors usually.

The gift history can actually can go back 14 years. Bit of a myth that its only 7 but usually it is! Gifting out of normal income that doesn't deteriorate your lifestyle is also free from IHT.

I've done lots of IHT planning over the years. Fairly infrequent so can be a bit rusty. Eg... Gifts into discretionary and absolute trusts (most popular) Loan trusts Discounted gift trust AIM investments using business relief