UKresonant

https://www.legislation.gov.uk/uksi/1981/1546/schedules/made Yes will Article 23 3) of the UK TH help with those pension (or not)? '(3) In the case of Thailand, United Kingdom tax payable in accordance with this Convention in respect of income from sources within the United Kingdom shall be allowed as a credit against Thai tax payable in respect of that income. The credit shall not, however, exceed that part of the Thai tax, as computed before the credit is given, which is appropriate to such item of income. (4) For the purposes of paragraphs (1) and (3) of this Article profits, income and capital gains owned by a resident of a Contracting State which may be taxed in the other Contracting State in accordance with this Convention shall be deemed to arise from sources in that other Contracting State' But if not all income is remitted to Thailand, declaring all your income to calculate your relief per pound could be a pain. RD could make the credit relief Impracticle, depending on the extent of supporting documentation required.

It depends what the THB1.6m consists of, but if they are to sell their primary residence and other large transactions in the UK, perhaps best NOT becoming Thai Tax until it becomes savings in the UK or rebased investments (perhaps including those within UK S&S ISAs, depending on their composition).

If you have the paper trail to show the funds were pure pre-2024 or non-resident savings, perhaps it would just be the interest on the 'large amount' that needs consideration in respect to filing?

We had it on good authority (from the UK .gov) that it changed to 60 days previously, and then it changed back again. So now have a tourist for August, will check again for Xmas to see if it happens. Now waiting on their Visa re-organisation and streamlining mentioned for September-ish.

If the mney has arrived in Thailand, by whatever transmission method from assessable source, of course it should be on your return . Some Experts seem to be discussing the detectability Anything digital is tracable if linked to the conventional banking system, if attention is drawn and effort above and beyond is thought worthwhile. If you have filed a plausible return and paid the tax, other minority peripheral items may be in a Grey area, that do not warrant the further attention. But you can visualize some that take money from the credit card, bank it and then the inbounds, just don't add up, compared with the declared

Scenario '2' But the Non-O ME was/ is for folks that had a need to go out of Thailand often. My shortest border bounce was 7-8 days back to the UK!

Thailand does seem to be on course to be a 179day per year destination for many. If I we're 100% in Thailand and the DTA was simple in opperation, not such a great worry, though more tax. Can't see that happening though. One of the family has kept to 177days +/- 2days for about 20years. I've only once exceeded 179 days, but all previous years remittance, remaining compliant.

Can I say it seems that the debate is trying to achieve a one size fits all conclusion. There could be Lifo Fifo relating to progressive sale of segments of a single stock or insurance bonds or the like. But I think the vast majority of transactions will be proportional (remitted P+G in the applicable ratio%), like sale of houses in home country, it's a single transaction at a point in time (so it's all out).

Sale price - purchase price= gain. How could you have recieve the sale proceeds without the gain? All the gain will belong to Thailand if your tax resident..just a matter of taxing your remittance until all fully remitted ( unless a DTA article helps out) But wait on the.further clarification from TRD when it comes out, sometime after next weekend, and that will confirm the situation ( for all that are having a tax resident qualification party next weekend ) That will prove your point perhaps .

UK relative, I'm assuming that Thai RD cannot look inside SIPPs (UK invested pensions) as the taxable event is only at withdrawals. I'm proceeding on the Basis that ISAs would be similar, dividends would not be tax exempt in Thailand (as they would be in UK). But looking inside the UK tax exempt .wrapper could become. very difficult,

Was thinking of various scenarios e.g. Non tax resident of Thailand, no Thai account, in hospital, requires a bill to be settled. Money, say 100000 THB, sent to Thai national, tax resident to settle the bill, if they keep the receipt from the hospital, no tax to pay? (or assume potential 35% tax.) No benefit to Thai tax payer. Not gift, though it could be tagged that way.... Any thoughts.

To legalize so many documents would not be viable, perhaps a legalised bank statement, showing corresponding pension payments, at worst. Not even sure some docs are on the list of items possible to legalize in the UK. I think the totals of all you mention gross (ex principle perhaps), could feature, especially if tax credit relief is involved. ( But if within exempt and allowance my just listing actual net remittance to Thailand would be OK? maybe with P60 or similar)

I would need a float of money equivelent to being double taxed and not having that money for a good few months thinking of the Thai/UK scenario. The bottom line may be no double tax, after filing all the forms out ( and losing how many days ).

So if it went global it would make it very complex, what would they make the criteria for tax residence, would it drag like the UK into more than one year. It may be difficult to maintain a non-resident bank account perhaps. Could only then rely on ensuring fiscal domicile under article 4, in the UK, more time there than in Thailand. But with staggered tax years, many scheduling complications. Would be weird paying Thai tax if spending at least half of your income back in the UK, 'no double taxation' but substantially more complex. I take it the OECD did not think about any State Universal Health care in their criteria 😊 I wonder if this will reflect in the Visa revisions announced, scheduled for September apparently, detail unknown 🫠.

Keeping the pre-2024 principle without interest co-mingled might take a bit of attention to detail. Also not being able to create new similar savings, unless from the income stream whilst not Thai tax resident...

I'll be keeping mine as long as they let me!

Yes it's put a quite spanner in the works for retirement planing....

The O-A went off my options menu list in October 2019, my longest time in within 12 months Thailand has been 245ish days in one year, my longest single entry was <84 days. The broker agent of a major Health insurance provider, said they could not honestly sell me a Thai Policy to supplement my 92 day per trip Travel insurance because the must be in Thailand clause in the T&C's of 6 months in 12 of the policies, Vs my stay pattern in Thailand would imply I would flux in and out of coverage. With my luck I would probably be under the 180 days when it was needed 🙂. Unaware that this situation has changed. If they started saying you must also buy a practically worthless Thai Insurance policy, to get a Single entry Non-O Marriage Visa that may be another negative issue for me!

I get the impression there is a large section in the wait and see camp , and still some oblivious to the Tax changes. The impact of attitude to Thailand, the Tax changes bring, may not show until 2025, or yes they may not show any great an affect at all. April May 2025, may make things clearer, after the Tax Filing period, and before they become tax resident 2025. Many have burnt bridges for other options or are to late in life to contemplate substantial change after being in Thailand so long...

Depends on the ratio of your declared funds vs your suggestion, how obvious it may be, once you re deposit it. How many times could you say you emptied th saving jar. Then the potential suspicion of working. It's the redeposit bit, if similar, that is the snag.

K, there is also an RD page that refers to a Bank of Thailand page to use for the FX rate....

May I comment... If your not currently Thai Tax resident, timing is everything, keep under the 179 days, for the initial year calendar year. If you have your Thai bank account you could start the 40k / month before arrival? You can have the 90 day extended by 60 days, giving you about time for 4 months transfers. (Wife could pop some money in the account, used to be only retirement extn that need funds from abroad..not sure.) 12 x 40k need for nationals of embassies that DO NOT provide income letters, e.g.. Australia, UK, USA..(maybe others)...they fell out and went in the huff back about 2017 ish, IO wanted those to legally certify income, they said 'cannot' thankfully they did not continue to put many other nationalities under that ultimatum. The 40k/ month was introduced. [So being a UK person I need 50k / month gross + transfer charges to prove 40k month. , but income method is the way I would want to do it, if ever in that situation ]

The in C are not taxable but if interest arising 1st 2024 is comingled a smal.bit may be taxable. If the interest from those savings were mandated to be paid to a different account should be pure non taxable. ( Provided you don't add to them after 1st Jan 2024 or add only in years when you are not Thai Tax resident.....

If you apply for a non-O single entry e-visa based on retirement from London you will have 90days from date of grant to enter Thailand and then 90 days from date of entry, to do the extension of stay. Easiest option, you can pick your moment, perhaps sending some funds just before you fly out?

If funds are from pre-taxed overseas assessable income, what are you stating on the form? Gross or Net remitted?