Pdavies99

4 hours ago, Naam said:

Racoon,

the real thing is that the proceeds from selling your domains are NOT INCOME. you've sold assets for a fair price. 'nuff said, tax case closed... as simple as that. lean back, enjoy your money and don't listen to people who possess a wealth of no idea pertaining to income tax. i hope you made a nice profit.

 

and if you have additional questions don't hesitate to ask (publicly or by personal message).

Not really correct, ie purchased for say $1,000 then sold for say $10,000 = a capital gain of $9,000 of which a capital gains tax is applied where sold.

Why give a Thailand Bank account?  Sutely you have an offshore accoyunt?  Now is not really the best time ref exchange arates.  Providing the sale and profit is not derived from Thailand, then you should not have at all any Tax Issues here, however you might have a tax demand in the country of Domain names originated or sold in.

4 hours ago, joebrown said:

I've tried to open/download the Bangkok Bank Example letter - Monthly deposits PDF, without success.

Is there any way you can send a copy to me please?

You need to download "Free PDF Reader" from Adobe Acrobat.

3 hours ago, MartiniMan said:

Don't be overly bearish and panic look at what UK has going for it - largest and oldest financial sector in the world - the biggest banks and top universities plus a wealth of great alliances and of course the common wealth

I read Rothchilds fund is targeting a 1.5 gbpusd recovery and I can see why - we hit this level last time and the market has priced in this low over a year ago and found strong support

Yes we can go lower but the upside potential is far greater. Where as the baht i do not see any reason for it to gain strength and the affect it is having on people with a strong baht and no change to lending rates is detrimental - causing a huge bubble especially in housing

Thailands stock market is being hit hugely by the china-us tradewar and implications from the tariffs trump has imposed

With 10 new freeports opening in UK and aiming for a Singapore model of business I really cannot see any reason why a dramatic and sustained recovery of British economy couldn't happen in the next 2 years especially with their payments from EU removed from the burden and the fact that US trade deal is likely to be signed now there are no EU restrictions - this could mean huge deals the likes we have never seen before and introduce a new wealth to uk agriculture, pharma and engineering.

On the other hand - I do not see any reasons why there would be sustained growth in thailand as the growth seen thus far is highly speculative based upon the assumption of a proactive economy that is enabled for foreign investors. In reality we do not see this manifest and purely a overly priced currency that is causing terrible repercussions for its people as their now overpriced to other nations and not offering anything extra so the tourism (which is the entire economy make no mistake) is really under pressure with top destinations down 80% and the spending we have seen in the past really not the same due to this expensive currency with nothing new to offer

GBPTHB back to 50+

USDTHB back to 35+ 

The fair value will come in very soon indeed wait for next budget and for trade war to get stronger and more developed - huge Japanese firms are closing in sriracha causing huge layoffs they are going broke - and everyone is credit up to the eyeballs on the assumption of more growth they are not prepared for recession but we can obviously see a recession is near of at least 4 years duration and could begin this year or next

Ha Ha!!  You should be a Government Minister (In Fairy Tales!)

Whilst I sympathise with you, I think you will find that HSBC make no charge at all for overseas transfers in general, I say "in General" as they do charge £4 if this transfer was effected by telephone request. If effected by online services there are no charges.   This is effected by SWIFT services which most banks use and the transfer takes between 1-6 days (for me I transfer £1800 in sterling each month, no charges for me with HSBC and it takes usually 4 hours - 2 days)

Read there charges information etc.

However if you instruct any bank for an "immediate same day urgent transfer" then other fees might apply, I suggest you make a complaint and they will refund any wrong charges.

HSBC have only three call centres located at Hamilton, Leeds and Salford, and none overseas since 2014 managing UK accounts (except for a Fraud centre in the USA dealing with all overseas calls related to fraud. 

As usual everyone jumps on the bandwagon saying they are rubbish etc, and maybe for some true, but they are no worse than the rest, including transferwise!!

Best  Paul

Only on Pattay Beach Road!!  Oh forgot....no speed limit there anyway!!

Look up PAMFAX , its a facility to send faxes via internet.  (It works fine)

20 hours ago, marcusarelus said:

Do you really think that Thailand can effect UK or USA monetary policy?  From the article above, 

 

"The country’s central bank could give in to pressure and cut rates to curb the rising baht, economists said. Still, they were not optimistic about the effectiveness of such a move.

“The (Bank of Thailand) could consider a rate cut to help reduce the baht’s yield appeal, but it will be no panacea,” DBS analysts said in their note, adding that a cut of 25 basis points would just undo a hike by the central bank last December.

ING’s Sakpal similarly said that any cut would see limited results."

 

The Central bank can't really do anything legal to reduce the value of the baht.  It's not a Thai problem it is a UK problem.  

Don't you get it, the UK's problems are a side issue efecting just the UK, the Thai Baht however is strong against all world currencies which is caused by the UK currency, just bad luck for Sterling, two issues!

Can be fixed, Police should lock up the bikes for say first offence one month, 2nd offence 3 months, 3rd offence lose the bike!!

The limit for taking baht to the UK is 50,000 baht.

You will get a very poor rate if you try to exchange Thai Baht in the UK.

Far better to change in Thailand into sterling.

Most UK Banks no longer charge for transfers aroad, but you should ask beforehand.  (If you request a same day transfer, then that costs you, however a standard overseas transfer takes about 1-5 days, and at little or no charge)

You should state you want a sterling transfer, other wise they may make a Thai exchange rate in the UK which is always much lower (about 3-5 baht worse a rate)

Your money will arrive usually in a Bangkok clearing bank and then transferred to your local Thai bank in Thai Baht, charges are usually absorbed within the rate given on the day and the effective rate is often slightly above the cash rate that day.   

2 hours ago, sanemax said:

Even if you dont live in the UK , you still have to file tax returns if you were self-employed , even if you dont have to pay UK tax , you still need to file your self assessment forms , if not , they fine you 10 quid a day for late/non submission  

Exactly right....(even if you are working for a company and not paying UK taxes) eventually and up to them when they will contact you and state that you no longer need to effect annual tax returns unless your circumstances change.  (You can also ask this point)

I suggest you get registered for online services with HM Revenue.

13 hours ago, cornishcarlos said:

 

Being out the country for more than 180 days/year for the past 23yrs makes me not resident for tax purposes. It's on their website ????

Yes, but you have to declare that to them!! 

Like everyone knows its up to you to manage your tax affairs, if not how will they know?  

Anyway you either sort it out or get a shock in the future.

48 minutes ago, Talltuktuk said:

Belt is <2000km but the clutch plates may be original (26k)

If the clutch plate does not look worn out, check for grease / dirt  / oil and clean thoroughly.  (Usually though if like that then its the bin!)  A point to note if you have been through flooding then the clutch plate is often ruined.

Have you actually spoken etc with the UK HM Revenue and Customs ?  If you have not, then they will still apply taxation as a UK resident and backdate it! 

(If you say you cannot or are unable to prove past years income, then they make an asumption of income).  It is the HM Revenue who tell you if and when they decide you are non resident for tax purposes.

They will eventually catch up with you, and until tax returns have been completed for missing declaration years, then quite high penalties will be applied (they may be cancelled once they are satisfied). 

I have in the past as a financial advisor assisted many "offshore" workers resolve this issue, it can be done. 

(A panic comes up when many are offered employment by USA companies who want to see you are tax compliant for past years)

Good luck and remember the HM Revenue are waiting!

On 7/29/2019 at 7:57 AM, Kwasaki said:

Drive belt.

Thats right!  Very common issue is the clutch plates buckle and the belt hardens up.

Father Ray Orphanage has a great repair shop and low prices, very clever!!

2 hours ago, JimmyTheMook said:

It's Banglamuang if package is held for collection and duty.

Small duty is often collected by postman but perhaps you missed him

and p/u slip was left?

That's right!!

7 hours ago, Don Mega said:

There is several according to google.

There are none...smoking in a public / private lounge is banned, sorry!

One way to cool the exchange rate!!

1 hour ago, nickstav said:

There are medicines that are CBD based and those that are THC based. THC oil ingested WILL get you high.

And you think we will start to see people smoking joints or stoned walking down the road with a local Doctors certificate?

The foreigners that might teally benefit will be low on the list of approved prescribers in Thailand, if ever.  I believe it will be from Thai Statements limited in the main to certain cancer sufferers etc, anyway I wish them the best of luck...End of please.

At a minimum a helmet with sides on it, ie ears and side of face, in an accident it is natural to turn your head etc.

Good gloves as they can land first!   After that it's up to you, anywhere not protected even in a slow accident is gravel rash etc, very very painful!!

What a stupid survey, you CANNOT get high on prescribed marijuana, the active ingredient has been removed that gives a high, anyone knows that!! Duh!!

3 hours ago, billd766 said:

I use concrete ongs for household water. I have 20 in 5 rows of 4. we started with 4 and I gradually built it up to 20 cross connected. They hold about 1,700 litres each but only about 1,500 usable. I have another 7 to one side not connected as spares and if necessary I can pump from them.

 

I also have 2 x 3,000 litre stainless steel tanks for rainwater collection from the roof of the main house.

For one house or for the whole village!

If you can get inside roof area, then line with plastic sheeting, heavy duty 1 meter wide rolls are available at most hardware stores for that purpose, affix with a nail gun, and seal nails with silicone...done!!   (I have relined two houses this way, (start top down with overlap) new house I had the builders line with plastic before roof tiling laid)