Unamerican

On 8/2/2024 at 12:52 PM, rocketboy2 said:

 

 I'm sure when / if, these new forms show up.

They will make everything as clear as mud.

But there appearance or lack of it, will spawn another 10 threads and 300 pages of reading material, or toilet paper, depending on how you see it.

I very much doubt they will get the act together.

They will be happy for the people to just pony up and pay what ever.

Win, Win

See ya all here, end of November time. 

TIT.

 

 

In what sense are they predicted to “show up” ??

On 8/1/2024 at 12:23 PM, KannikaP said:

So you are correctly saying that the UK State Pension does not come over the 12570 tax free limit = 241 per week. But you are taxed on any extra income which tips it over that limit.

Not quite, since there are many components of a U.K. State Pension.  Thus some lucky people get paid considerably more as part of their U.K. State Pension.  This is because they have been forced, or chosen, whilst in employment, to make substantial payments into it (SERPS, for example). 

18 hours ago, Mike Teavee said:

Obviously as you get higher numbers you're taxed 45% in the UK Vs 35% in Thailand so the difference between what you pay in the UK will be even greater than what you would owe in Thailand

Ah yes: but how do I get to not pay the 45% to the U.K. (not that they do not need anything they can get from me, right now:-) and pay only the 35% to Thailand (not sure that the Thai government needs any money:-). 

19 hours ago, Mike Teavee said:

Apologies I know it's bad form to quote yourself but out of curiosity I ran the numbers on a few scenarios & was surprised to learn that only people remitting Assessable (Non-Gov) UK pension incomes (NB I'm only doing the calcs on UK pensions as that's the topic of this thread) of approx. 42-49K pm would have any Thai Tax owing, below this & your TEDA + 150K @ 0% would cover you, above this and the Tax you've already paid in the UK more than covers any Thai tax due.

 

Basic assumptions, a Single person, over state pension age so has 355K TEDA (60K personal allowance + 195K >65 allowance + 100K allowance for "Expenses") and £1 = 45THB.

 

50K pm Income...

• Remitted income -  600,000 
• Taxable Income after 355K allowance = 245K 
• Tax due = 150K * 0%, + 95K * 5% = 4,750 Thai Tax
• UK Tax already paid on £13,333.34 = £150.87 = 6,789 THB which can be offset against the 4,750 to leave no tax liability.

65K pm Income...

• Remitted income -  780,000 
• Taxable Income after 355K allowance = 425K 
• Tax due = 150K * 0%, + 150K * 5% + 125K * 10% = 20K Thai Tax
• UK Tax already paid on £17,333.34 = £950.87 = 42,789 THB which can be offset against the 20K to leave no tax liability. 

100K PM  Income

• Remitted income -  1,200,000 
• Taxable Income after 355K allowance = 845K 
• Tax due = 150K * 0%, + 150K * 5% + 200K * 10% + 250K * 15% + 95K * 20% = 84K Thai Tax
• UK Tax already paid on £26,666.67  = £2,817.53 = 126,788 THB which can be offset against the 84K to leave no tax liability.

500K PM  Income

• Remitted income -  6,000,000 
• Taxable Income after 355K allowance = 5,695,000 
• Tax due = 150K * 0%, + 150K * 5% + 200K * 10% + 250K * 15% + 250K * 20% + 1,000,000 * 25% + 3,000,000 * 30% + 645K * 35% = 1,490,750 Thai Tax
• UK Tax already paid on £133,333.34  = £46,203 =  2,079,135 THB which can be offset against the 1,490,750 to leave no tax liability.

 

... Obviously as you get higher numbers you're taxed 45% in the UK Vs 35% in Thailand so the difference between what you pay in the UK will be even greater than what you would owe in Thailand

 

Edit: And this is why I believe TRD will end up giving a "Pass" to things like UK Pension income as they know the effort involved in processing every return isn't worth the small amount (<3K) they would get from the guys in the 42-49K pm range. 

My interpretation (some time ago) of how the calculation of “tax paid in the U.K.” is done means that your calculation is correct *only when* you bring all your (taxable) income into Thailand.  

2 hours ago, Phulublub said:

Wrong.  The UK State Pension is classed as Assessable Income for thai tax purposes.  Article 19 for the DTA is inapplicable here.

 

See https://www.gov.uk/state-pension-if-you-retire-abroad/tax-on-your-state-pension#:~:text=Overseas residents,tax on your pension once.

Overseas residents

You may be taxed on your State Pension by the UK and the country where you live. If you pay tax twice, you can usually claim tax relief to get all or some of it back.

If the country you live in has a ‘double taxation agreement’ with the UK, you’ll only pay tax on your pension once. This may be to the UK or the country where you live, depending on that country’s tax agreement.

In the specific case of the OP, it is highly unlikely he will have any Thai liability sicne his military pension is not applicable income and he will already have paid tax on his UK state pensiion.

 

PH

 

 

Excellent summary!  Many thanks. 

2 minutes ago, helloagain said:

You look at the tax agreement between your country and Thailand that will be your answer.

But in our U.K. case this is not so: as others have detailed, the UK-Thailand has almost no information concerning personal income such as pensions (of which there are a large number of distinct types in the U.K.).

On 8/2/2024 at 1:02 PM, Mason45 said:

What, were you a field marshall?

Doh! 

4 minutes ago, Dionigi said:

State pension is paid from national insurance contributions. According to Wikipedia the amount taken in is 18% of government revenue. Perhaps some is siphoned off?

No it is not!  It is paid from general taxation.  The relationship to your NI contributions is only in the decision on whether you are paid a state pension and how much (but the latter is affected by many other factors too). 

On 8/1/2024 at 12:23 PM, KannikaP said:

So you are correctly saying that the UK State Pension does not come over the 12570 tax free limit = 241 per week. But you are taxed on any extra income which tips it over that limit.

No, this is absolutely nothing to do with anything from the US OF A !!!!

On 10/8/2023 at 3:19 PM, moogradod said:

This law office is in Pattaya. We live in Chonburi. Per forum rules I am not allowed to publish company names, telephone numbers etc. (probably because of marketing reasons) on the forum.

 

But I can send you a PM if you are still interested even if it is in Pattaya. Just tell me. But you would have to wait a few days since I do not have this data with me where I am sitting right now. We are preparing the move to a new house. But I would not forget it (if you are still interested). They are really professional but are rather active in the local environment here (incl. court etc.). Unfortunately I have no experience with anybody specialized in BKK.

Please can you PM me too with this information as I am near to Pattaya. TIA. 

On 8/11/2023 at 11:04 AM, Delight said:

 The  only thing that matters right now -is to find  an administrator for your Thai assets.

If you fail to achieve this -then your 800000 Baht will stay with the bank.

 

Also -the administrator cannot organize probate without an official death certificate. 

It is my understanding that this will only be issued to a family member.

 

Pattaya -for example -has no resources to store bodies.

In your case the body and your passport will go to Bangkok.

Your passport will end up at the American Embassy. a case will be opened

So ensure that the contact details of the administrator appears in your passport.

if you chose to use a lawyer to create a will -then that person could give you more useful advise.

You do not need a lawyer to create a Will

 

Certain wording has to appear on the will

i.e

 

1) This is your last Will and testament

2) Name of beneficiary 

3) Name and contact details of the administrator

4) You must have 2 persons to witness your signature. Supporting documents  will be useful i.e. Beneficiary -witnesses etc.

 

You can have multiple originals. They have to be identical

What exactly is an “administrator of assets”? Thank you. 

20 minutes ago, bob smith said:

sadly that just isn't the case here.

What is not the case?  How do you know? 

29 minutes ago, In Full Agreement said:

 

 

The same thing can be said about the infestation of AN by right wing loonies.

 

 

Or, as in bob’s case, simply total loonies! 

1 hour ago, novacova said:

Because the left suffers from the conundrum of internal contradictions 

Which left, and where, would that be? 

1 hour ago, sandyf said:

Unless you can enlighten us with a valid reason on why the UK state pension would not be covered by the DTA, I will go by what the DTA actually says.

I have seen many non UK nationals make various misinformed comments regarding the state pension,  this being a common one. I just put it down to a lack of understanding.

 

So please tell us what the DTA does say about U.K. income! 

7 hours ago, CygnusX1 said:

No wonder I needed the assistance of Google and Wikipedia to figure that one out. I’d never heard of J. Arthur Rank, and I doubt too many other people have!

Good for you! A little investigate work will do you no great harm.  I guess it is a generational thing. 

4 hours ago, Bday Prang said:

nice of him to advise about an easy way to circumnavigate the rules

 and as an additional ploy    "  and pack them in carry-on luggage .”  that will certainly fool them pesky customs fools eh?

But before the ardent vapers get too excited he adds ,," authorities in Thailand are set to take decisive action against the illegal use of e-cigarettes"

so all in all a little confusing

What “new rules”?  And the advice is to “bring your own” only when/where this is permitted.. 

3 hours ago, StevieAus said:

Well here is is your answer and it’s not smart arse.

The first line should should give you the clue if the article was written here they wouldn’t say “British tourists heading abroad” this site takes articles from elsewhere and this article was most likely from a publication in the UK.

I and it even tells us which publication! — The Mirror. 

2 hours ago, CanadaSam said:

 

This is where you need a Thai lawyer, because in many countries, it is not the first mortgage that is more powerful, but a mortgage to a bank which is.

 

In other words, even if a bank registers their mortgage third or fourth after previous mortgages to private parties, the bank's mortgage gets precedence, strange, innit?

Are you sure about this? 

Whose summer??  No such thing in Thailand. 

2 hours ago, Southsealad said:

You saved me a job by answering.  Do wish people would stop being selective.  Suppose it supports their dislike of the next POTUS.

What does that mean? 

15 hours ago, GammaGlobulin said:

 

It's just more utter nonsense...

Similar to the Dining Scene at the French Olympics.

 

Lessee pls in this allusion!