sometimewoodworker

You need to read the Thai tax law No, You need to read the Thai tax law The HMRC view is irrelevant The TRD has a different view, You need to read the Thai tax law The TRD is well aware of tax evasion strategies. It is your money you are liable for assessing it for, and paying, the tax if you don’t you will be breaking the law. NB I am not now or ever giving tax evasion advice. I can and do, sometimes, respond to hypothetical situations.

I can see no way that those funds are taxable. If you are non-resident during a calendar year you have no assessable income irrespective of the situation if you were tax resident, irrespective of the amount transferred. So any funds remitted during that year are by definition exempt from Thai taxes. if you are non tax resident you can bring in as many millions as you like subject to money transfer limitations, you will have no income tax liability. While there are cash transfer limits anyone popping in for a couple of weeks holiday can bring in any amount subject to the limitations

I am reasonably aware of that and had valuations done at the time so I have a hard line on the base valuation, however I’m still well into a largeish CGT tax bill.

This is one of the exact reasons to be non resident for 1 tax year, however having a capital gain in your home country is another reason to be non resident when the gain is realised. Regrettably HMRC will have their pound of flesh. personally I will be likely to have a significant capital gain since one property has a 2,700% increase since it was purchased in 1974 so I will be non resident in the year I sell it. This will mean that if or when I remit these funds, however much I send I can have zero assessable income in Thailand for many years to come

You are doing exactly what you say should not be done.

So, just to clarify? If you don't remit any pension income, then you don't get the age 65 = 190,000 income exemption and you don't get the 50% = up to 100,000 expenses deduction either? Just asking... Neither of the statements above are correct. You have an OAP allowance of 190,000 it is not an exemption. IT IS NOT AGAINST PENSIONS per sei it is against all assessable income. it like other allowances reduces the amount of tax you need to pay, or increases the amount of income before you pay tax There are some allowances that are specific to a particular type of income, the OAP allowance is not one of those. there are some allowances that are dependent on your family, the OAP allowance is not one of those.

Are you sure? Pensions are considered income are they not? Thus if you have assessable income you have an allowance for expenses do you not?

Since, so far, every tax official has said that they do not want returns filed where there is either no tax due or to refund I totally fail to see where the purported extra cost comes from. Do please explain?

.

When I called I got through on the +44 (0) 191 218 7777 number, AFIR not unreasonable wait time, fast and efficient when I got through on both occasions.

Of course it would, however it is better to deal with the devil we know before fantasising about the Balrog that doesn’t exist yet.

Yes of course they do, but its mostly for playing on face book and line in office hours. As I said the staff I interacted with were using the phones for part of their work, not for facebook or line. They may well have used other apps when not assisting me, but didn’t while I was their customer.

You need TIG for most SS welding, though gas MIG is certainly possible but stick is rather difficult

All the bank staff I have talked to and interacted with use their smart phones for a part of their work

If you have a Thai ID card (pink Identification card for people who do not have Thai nationality or blue/green Thai National ID Card) you already have a Thai tax ID, probably anyone with an ID card MUST use that number In general the vast majority of TRD’s DO NOT want you to fill in a tax form if you have no tax to pay and no tax to reclaim. Just because they don’t want you to fill in the form doesn’t mean that you cannot, just that there is no discernible benefit to you.

The reality of that coming to pass is not great, as it will require a change in the tax law and such a change hasn’t been approved yet, it may never be, or maybe years ahead. the current minor modification in the wording of the interpretation of the current rules was a TRD one and relatively simple. World wide taxation is not anything like that.

It is always amusing, in a voyeuristic way, to see how some project their own inabilities and incompetence onto others. PLONK

So the TLDR is that; if you have savings in the U.K. that pay interest and that interest is at least £ 5000 and your non savings income is under £17,570 you have an extra allowance from HMRC. why did you stop at 17,000 why not £20,000 (CGT) the answer is that anyone who could be eligible is either dedicated to managing their funds or is paying for it to be done So doing the math you will have to have around £220,000 today in cash or more likely £200,000 as today’s interest is quite high looking at the past 5 year’s along with not much The vast majority here just have pensions income so the HMRC tax threshold is £12,570. Few can or even should qualify for a higher limit

For anyone who finds my posts disagreeable there is the convenient ”Add new user to ignore list”function that is otherwise known as “Plonk” to those with rather extensive use of systems that significantly predate Sir Tim Burners-Lee’s popularisation of hyperlinking

You have no knowledge of my circumstances or of amounts I remit or am able to remit into Thailand or where and how those funds originate, nor of my holdings of fixed immovable assets and other assets. I am reasonably confident that if you were to know my finances you would be unable to provide the strategies and advice I want with any confidence that they are legal, comprehensive and personally tax efficient. If you are so confident I know of at least 1 major financial company that would like to hire you expertise, though I rather doubt that they would agree with your self aggrandising opinion.

A rather naive concept! I don’t know of any taxing authority that supports anything remotely similar I will be sharing little of my meeting, other than general principles if I am even allowed

I have no idea where the idea that you start paying tax in the U.K. at amounts over £17,000 HMRC is convinced that you start paying tax at £12,500 unless you have something other than the basic allowance. You can be very sure that HMRC will collect 20% in each pound over any allowance you may have.

Not intrusive. It is a standard allowance for all, there is nothing required for proof NB the figures I give above are provisional. I am going to have a conversation with a tax accountant next month nothing I have posted is advice, it maybe totally wrong.

I think your computer is acting up again. the tax forms are not available yet the 100k possible pension allowance is a DTA thing so not listed there is no “150K Exempt tax allowance for everyone” it is that the first 150k in assessed income is taxed at zero a subtle but important distinction The calculators are provided for individuals who are working in Thailand so not surprising that they don’t account for pensions or DTAs https://www.moneymgmnt.com/tax/thailand-tax-calculator/ is an editable spreadsheet so you can add things Provisionally my personal assessable income before I need to pay tax is at ฿57,500 per month and SWMBO has life insurance policies that will increase that amount and I haven’t included tax relief from the DTA

Nothing listed above contradicts anything I have posted. Nothing so far suggests that you actually understand the somewhat complex subject. As paraphrased as a signature line I can post information for you, however I cannot understand it for you.