Mike Lister

Thanks, it's been a long time since I looked at them. I did look years ago and the firm involved wanted far too much money for what looked like form filling and knowling slightly more than me. When I questioned the level of fees, the response came back, "we don't it for nowt"! Enuf said!

I thought QROPS transfers outside of the UK/UE had lost their legitimacy and appeal? https://www.gov.uk/government/publications/qualifying-recognised-overseas-pension-schemes-charge-on-transfers/qualifying-recognised-overseas-pension-schemes-charge-on-transfers

We have a blue sky in Mae Rim this morning. I'm shocked, I never knew there was a sky of any colour in Mae Rim in April.

L&G also has a small but very well performing strategic bond fund that I like and has returned 10% in about 9 months. The duration is around 3.5 years but the average credit quality level is lower and averages BBB/BB. Still, it's not into junk territory so I'm happy with the bet. https://markets.ft.com/data/funds/tearsheet/ratings?s=GB00B1TWMY10:GBP

https://markets.ft.com/data/funds/tearsheet/summary?s=LU1000843505:GBP

Methinks also. G'night.

I sat with somebody I knew many years ago, he was desperately short of money and several people were trying to guide him. He'd previously managed to churn his private pension three times and received cash in hand each time from the visiting IFA. He tried for a fourth time and the IFA was perfectly happy to do so because he collecting fees on both legs of the journey, out and then back in again. Things became a bit heated at one point when I questioned the legality of doing this under UK law and his right to advise in Thailand, he simply didn't care. Another tag team pair involved a very affable Australian who held court in Fanny's Bar in Soi Cowboy in the late afternoon/early evening and a "the Brit boss" back in the office who would seal the deals he brought him. There was never any regard for legality or qualifications or any of the things you typically associate with investing and solutions were always the same, one HK based investment company. It's so dangerous for inexperienced and wannabe expats who see a way to quick money.

I have too much money sat in Money Markets and want to put some into a short term bond fund, the problem is I can't buy the excellent L&G fund that I want to buy because HL doesn't list it. VG Short Term Global Bond Index was on my list but upon checking recently, it doesn't look that entertaining. Has anyone come across anything lately, must be investment grade with average duration <3years?

I agree entirely, as does everyone else I've encountered who has looked at this, baring two members above. Still, in the spirit of inclusivity!

There's an idea, Nana Farang IFA's, opening hours 7pm to 3 am, office located across from Nana Plaza.

Indeed, it is not explicitly stated. The problem is how you perform that work, perhaps as an employee of another company, which requires a work permit. The idea of being self employed as a freelance IFA probably wont fly here, the same way that it might in say the UK.

See list below: Most Westerners appear to do that by acting as Freelance operatives and trawl the farang hang outs for potential customers, their reputation generally is the lowest of the low. I've seen some of them in action and listened to their advice, many will try to churn policies and recommendations, just for fees. It's not a good picture. The problem is the degree to which the profession is largely unregulated here. Others use a Thai CPA or similar to front their activates and pay a referral fee.

The answer to a number of important issues remain unclear and these are recorded at the end of the tax guide. I would like to keep those issue visible here because they are extremely important and its easy to forget or overlook them: I) - Does the Thai RD consider remitted funds to Thailand that have been through the overseas tax process, to be tax free in Thailand. Or is it the case that overseas tax must be paid on every Pound or Baht that is remitted. In other words, will the Thai RD allow the UK Personal Allowance and other countries exemptions, to be part of the tax paid process. J) - The US is not alone in not requiring certain sectors or classes of people to not file a tax return, even though they have tax paid income, the UK does exactly the same. The question is, how will these classes be able to prove their income is already taxed? k) - how to distinguish between principal (funds from legacy investments, inheritance, original investment principal) versus earnings (interest, dividends, remuneration) from comingled funds, determination of applicable foreign currency exchange rates for tax assessment, etc. L) - income that is earned in a year when the taxpayer is tax resident but not remitted until a year when they are not tax resident, is it later tax assessible in Thailand? M) - at least two members don’t believe that the Revenue Code is sufficiently explicit in stating who doesn’t need to file a tax return and instead only states who should! Most other members have been able to understand this issue but nevertheless, the search continues for a suitable form of RD words that will satisfy this point for everyone. Progress in Resolving These Issues Point K above seems the most clear, I think the options are: Keep adequate records for every feeder account Assume and adopt LIFO or FIFO Assume comingled funds lose their identity hence income or gain is transferred first, followed by capital Wait and see what the TRD has to say about this. The ultimate solution however, is to not commingle funds in the same account. Point M above is currently being viewed by many in the context of the PWC tax handbook which is linked a page or so back and strongly favours that taxpayers should file rather than not. Again, clarity is needed on this point, from TRD.

The MPC votes for no change in Thai interest rates, US inflation came in hot so THB is back to where it was, 36.69 this morning. https://finance.yahoo.com/quote/THB%3DX

As far as I'm concerned the Simple Tax Guide project has finished, barring major new developments. Maintenance work and minor updates, resulting from new developments' or information that emerges, or from proof reading efforts by members (or their challenges) is an ongoing background activity. Statistically, the different issues of the Simple Tax Guide have been viewed over 100,000 times whilst the number of AN members who have read the guide and have been able to resolve their Thai tax concerns publically in tax related threads, is in excess of 100. The work started on 11 January, three months to the day. A big thank you to all those people who participated in its construction and in helping members.

Correct

I wrote that Tuesday for another purpose elsewhere and simply copied it without bothering to check the rate. It doesn't really change the argument. https://finance.yahoo.com/quote/THB%3DX

MPC votes to leave rates unchanged today, thank goodness.

The letters, the emails and the PM's speak differently but let's not dwell on the past, onwards and upwards I say.

They're all out there in the Simple Guide to be agreed with, disagreed with or commented on. If members chose to say nothing, for whatever paranoid reason you allude to, that leaves others with the impression of tacit approval or disinterest. On the other hand, such folks could politely, calmly and rationally pass comment and even pen alternatives that more closely match their opinions and see what other members think. Thus far it's only been myself and a small handful of offline/behind the scenes members who have participated in the construction and critiques. I/we have no problem at all if anyone wants to suggest alternate phraseology that can be broadly agreed by members. Not half or one page confused rants, just one piece at a time in small manageable bites. Sorry if you and Grumps feel insulted but you guys do manage to bog down progress and like to argue in circular fashion.....what is assessable income and what is a resident are two examples. And you are the only posters that have raised this issue in the thread and complained about it, just like you're the only ones to have complained about most things. If you have emails from imaginary friends on this, great, get them to post their views here so we all can share.

Actually it's more of a hymn.

Not really, it's just the start of increased prices and bigger problems.

Here ya go:

I don't agree the cheap Baht increases exports significantly. Studies have shown that it is the buying country currency that must be stronger, not the selling country currency weaker, before exports improve.

Hub of Islands perhaps, HOI for short.