UKresonant

Verbal rejection? I think a rejection in a written signed and stamped form would be lovely to have. I think I would try and put on (old) puppy eyes and show a downloaded tax residencyself declaration form, such as the HSBC form, that asks for a TIN or a reason for not having one on the form. 'Please can you give me something I can show my bank ( as my bank has a similar form ....).' If they give you something official looking something It gives a point of reference should any staff contradict later. For me the difficulty may be keeping a straight face and not skipping out the door if successful, in getting a.formal rejection.

The RTE London confirmed by e-mail, £1k non O SE, £10k for non-O ME, May 2023.

I think it is more likely to be reactionary, than in anticipation. Needs the train to hit the buffers on at least one busy inbound track in to the terminous, quick investigation and a special measure may materialise, to keep customer numbers up.. If it happens for this year relatively contained, if next year 1st quarter folks are getting pummeled for Tax, and it's worldwide media time?? will see how it goes.

I'm just trying to be optimistic, the paperwork to prove the capital principle, would also perhaps throw up the detail of the gain (even if zero rated at home)? Remitting $400k will surely trigger the alarm bells, whilst your fiscally domicile (Normally DTA Article 4) under Thai RD priority taxation. Any big transaction like that (with favorable home contry treatment) safer to be resident in home country that year. In 2018 I made sure when making pension transactions, co-incidentally in March, I delayed coming to Thailand until after the UK tax year concluded on April 5th and cumulatively was less than 180days in the calendar Thai Tax year (Returning to UK as non-O ME.. The difference between a sure thing and a debatable situation.

Is there not also a deductible of 50% of pension to a max of 100k baht ( not at PC currently to check the detail )

Perhaps the the year the income is earned whilst Thai Tax resident, is the more important. Exchange of information with home country tax authority approximate your in year income. What if;-any income arising that year is assessable as it is remitted to Thailand at anytime (161), until that total in year total is cumulatively reached. "But it can't be I spent it or at least the remainder of it, on overseas commitments in that year" 'Prove that then' Just sharing a recent nightmare

Remitting $400k, would make it $80k gain most probably, still a big tax bill. Could always file on the 1st April perhaps...without losing face. .

For myself I speculate;- Under 65 60000THB (personal allowance) 150000THB (nil tax band) 70000THB (Taxed only in UK. Gov pension) The above all net of tax, based on actual remittance, landing in the Thai Bank Account. Above 65 can add 190000 old age allowance! Then there is the 50% of pension deductible (amongst others ) up to 100k Baht. So for me generally, I think 380k THB Under 65 570k THB Over 65. Additionally, savings before 1st Jan 2024, That you can prove Additionally savings principle created from earnings etc whilst not Thai Tax resident ongoing years Additionally the principle arising from inheritance if isolated, but generally as Thai IHT allowance is reasonably high. But it will all be down to your own personal circumstance, that's where reading the tax guide may help you. Out with your question peramiters, there is the 5% tax band which would add another 142k THB net, quite painlessly. Would not be worth getting into DTA complexity, except for the 'only taxed in UK' aspect of my small Gov pension, until remitting a more substantial amount. " yes I can prove pensions, but only sending my .Gov pension and savings currently" if asked. All very approx, counted on fingers and toes

The out of sync tax year is potentially a problem for UK Tax docs. Knowing what documents will be asked for consistantly would be more than useful. Don't want the 'need stamped by your Embassy' when that is just not a possibility, as that service is not offered and such like. Perhaps the only segment of income, that may not be an issue is the 'taxed only in UK' .Gov pension. I'm thinking the net value could be remitted as soon as the P60 end of year Tax Cert is issued (April/May) Only legitimate source, (and tax paid maybe) needs demonstrated hopefully. May have to be declared somehow, but not as part of the tax calculation. Therefore only declared as explanation, and does not logically need to align to Thai tax year. Pretty small component of my income though.

I'm surprised if the genuine gift from overseas from legitimate source would be problematic. Reading the posts on the UK tax Comunity forum, it does not seem to be other than straight forward there. Unless then re-transfered to a 'relavant person' (like the sender). Perhaps the gift in a Thai context, could not be then used to purchase property.

When this Tax policy change was announced, for 2024 I decided that all taxed at source pensions go to one bank, and dividends go to another bank. I've jinxed it! The two selected banks are merging later in the year!

Waiting on clarification, different tax firms are phrasing it slightly differently Pensions only taxed in Home country, some say ignore some say declare. For the DTA tax credit action Pension 1 £15k £700 tax deducted at source in UK uses tax allowance Pension 2 £ 2k £400 tax deducted at source in UK (Exempt under DTA) Pension 3 £ 2k £400 tax deducted at source in UK Pension 3 £ 3K £600 tax deducted at source in UK One said Pension 2 is not included in declaration, another said it was???. So Pension say 1 3 & 4 tax paid £1600 on £20k gross, remit the net of £15k gross to Thailand whilst resident and you would get £1200 credit relief. the way it was described. So the £13800 net remitted arrives in Thailand, the £1200 does not arrive as UK HMRC has that. What goes where on the filing and non-existent Tax credit form is still a Mystery! Is the tax computation simultanious with the tax credit. or will they want us begging for Tax back from the UK. (DTA 23 3) says UK tax paid should credit against Thai tax, but does that work or is it for Thai's working in the UK) There was one Tax Expert on YT joking that their DTA text had to be dusted off! I'm not sure the Experts know for sure, in relation to DTA aspects, few if any worked examples. Were quite clear on the most of the Tax requirements, thanks to Mike L's Guide, but the practical application of the DTA / credit relief aspects and supporting documentation is still a bit wooly. The written word is there, but the practical process going forward is still a bit foggy.

Was thinking whilst browsing the English pages of the RD site, this section could be of interest to posters much earlier in the Thread with various work arounds, cash in the suitcase etc not having a plausible amount of declared income etc. https://www.rd.go.th/english/37748.html https://www.rd.go.th/english/37749.html#section49 Section 49. In the case where a taxpayer deriving income does not file a tax return, or the assessment official considers that he underreports the amount of his taxable income, the assessment official with the approval of the Director-General shall have the power to determine the amount of his net income on the basis of the money or property owned or possessed by such taxpayer, his expenditure or standard of living or his behavior, or the income statistics either of the taxpayer or of other persons carrying on a similar business. The official shall make an assessment accordingly and give the taxpayer a notice of the amount of tax payable. In this respect, the provisions of Sections 19 through 26 shall apply mutatis mutandis. ( https://www.rd.go.th/english/37745.html )

Hopefully most fulltimers in Thailand (over 65) will be able to coast through on their basic 65k THB/month and some actual experience reports at the start of 2025 filing will enlighten. That would upto circa 280k exposed to tax but at the lowest two bands 5 and 10%. Would have to hope the other countries don't issue a memo.

Looked like it picked up a bit in the link https://taxsummaries.pwc.com/thailand/individual/other-taxes

A couple of other links https://www.gov.uk/tax-sell-home https://www.gov.uk/tax-live-abroad-sell-uk-home Would you not have to stay there for at least 92 Days per year to maintain your UK Tax residency, via sufficient Ties Test If your on the property more than 1 day per year/more than 16 days per year. & 91 days per year over at two year period, unless you have 90 days plus in the last couple of years already. Not sure if Thai RD would recognise it as inheritance it depends on the transaction your Solicitor made. https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm11000 https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm11500 https://www.gov.uk/hmrc-internal-manuals/residence-domicile-and-remittance-basis/rdrm11710 I think safety would be not being in Thailand more than 179 days in the calendar year and also being UK Tax Resident, when you sell your house

Has AUD not appreciated 2.3% against the THB over the last month, 1% THB savings rate so less than 2% relative issue? Seems a bad option to own property, assets, that cannot be managed under a 30 day tourist exempt. Only family, Thai ID card holders should own things me thinks Retirement Visa is only the label, not definitely the contents list, which is in perpetual detail Flux, or it seems that way since 2018 Back to back external investment yeilding against rental cost still an option? 17 months out of 24 months seems still do-able as it's still remittance basis ( perhaps enjoy it whilst you can applies) live on your unremitted Thai tax assessable whilst non tax resident, and remit the derived in year stuff whilst not in Thailand more than 179. It is becoming increasingly awkward if still essentially one foot in each of two (or more) countries.

I would imagine 1M THB in cash would be a negative, like 'where did you get it?' Suggest 38000 THB would be plenty to open, whilst perhaps implying 800k+ to follow once set up.

If all the remittance is in 2024 whilst UK tax resident and not Thai tax resident, I think arrival in Thailand anytime after 6th April 2025 would work well. ( there is some criteria that in some circumstance HMRC would rewind your status to their last full UK tax year. But honestly can't recall the detail.....) July 7th 2025 would be for sure, should anything run past 31st Dec 2024. No you should not have to pay tax on that created whilst not Yhai tax resident. But timing is the difference between having to prove status Vs no doubt.

That's reflects my comparison of UK and Thai income tax, I would get hit harder between 1 million and 2 million Baht assesable income remitted. ( no worries until more pension come online ).

Well compared with UK tax that 25% would be about right probably, if it were 2.1m Baht remitted, ( not sure if the other 30% stayed off shore ) Under 65, roughly the Thai Tax is more than the UK between 1M THB and 2M Baht, with the 25% and 30% bands Vs 20%, doesn't become Consistantly less compared with UK until past the 2.1 million Baht level, e.g. 35% Vs 40% Just looking at pension income, gains and Dis would be worse.

Two quite posts, good summary, especially the TM30 thing. The Tax Thing does add to the gradient of negatives, 17 months of 24 months still do-able perhaps in Thailand. A visit to Malaysia sounds interesting. Not sure the 'local food' being a threat, a lot less so than in the past, like early 90's when I was first there. It does worry sometimes when I ask how much sugar is in that and you get a 'no idea' response. Just have to be selective like anywhere else. Plenty of healthy stuff if you seek them out and also that under Japanese brands.

Unless it's earned in Thailand, like lots of bank interest. (I hope they don't change that 180 day in year definition)

I think the only sure thing going forward for me, is the income/assessable earned whilst not Thai tax resident, (whilst being Tax resident in the UK) isolating that principle money, for future remittance, with no interest added. Then a base load of;- Thai personal allowances + 150k Zero band + one small exempt pension. I have have found my location days spread sheet, and will keep it up to date again. It would appear, supprisingly, my longest tax year attendance appears to be 245 days! Hope they keep it remittance basis, as if it becomes global would it be worth it for a historical extra 66 days....