Country of Tax Residency

[YorkshireTyke]

I left the UK in 2002, worked overseas until 2012, then retired here in Thailand and not returned to the UK at all.

 

I don't work and haven't started claiming my pension yet as I am only 60 so I don't pay any tax apart from a small bit on interest payments in UK and Thailand.

 

About 3 years ago I invested some cash via a FA and a financial platform as I I don't have a UK address. The forms I completed ask for my country of residence for tax so I put Thailand. My FA said it would be the UK not Thailand and changed it.

 

I am now investing some money direct with a company called Fundsmith, whom I invested with previously via the Ascentric platform. Amongst the many forms for anti money laundering was one asking for my country of tax residency and my Tax Identification Number so I put UK and my NI number.

Fundsmith have replied that they aren't satisfied with my answer. I presume after reading the Government guidelines the answer should be Thailand. If that's the case what is my Tax Identification Number ?

 

TIA.

 

 

[Surelynot]

Unless someone on here is genuinely qualified to answer this question you really need to speak to tax lawyer before you find yourself with a big bill.

[ukrules]

This kind of issue is going to become more and more of a problem for people who don't live in their home country and pay no tax.

 

AML/KYC - making a nightmare process out of something which should be simple, unless you're moving millions at a time then people should not even know what AML/KYC is.

[YorkshireTyke]

I will be paying tax when I claim my company pension within the next 5 years and state pension in 7 years (fingers crossed).

 

And definitely not in the millions !

[stouricks]

4 minutes ago, ukrules said:

This kind of issue is going to become more and more of a problem for people who don't live in their home country and pay no tax.

 

AML/KYC - making a nightmare process out of something which should be simple, unless you're moving millions at a time then people should not even know what AML/KYC is.

Which the majority of us don't know what these TLAs mean!

[ukrules]

11 minutes ago, stouricks said:

Which the majority of us don't know what these TLAs mean!

Which is the way it should be...

[ThomasThBKK]

39 minutes ago, YorkshireTyke said:

If that's the case what is my Tax Identification Number ?

 

 

You have to get one, they are easy to get at the tax office.

 

Just follow this guide: https://www.globalfromasia.com/thailand-tax-id/ 

 

If you live here over 180 days per year you are thai tax resident. Simple as that. 

Edited October 14, 2020 by ThomasThBKK

[4MyEgo]

29 minutes ago, ukrules said:

This kind of issue is going to become more and more of a problem for people who don't live in their home country and pay no tax.

It all boils down to the country you come from.

 

Example the rules in Australia are if you are a non-resident for tax purposes, you basically don't pay tax apart from a 10% withholding tax on money held in aussie banks (must notify banks) who take it out as they pay you interest (if any) which is not much in today's terms.

 

If you have invested in shares in the Australian stock market that are fully franked, and pay a dividend, the tax is already taken out when you receive your dividend, again, with Covid either nil dividend or a reduced dividend.

 

Property is a real problem, it's 32.5c in every $ you earn from rent and your property is subject to capital gains tax when you sell, usually at the highest tax margin and calculated from the date you purchased your property, regardless of when you moved overseas.

 

If you earn money from work within Australia, you will also pay 32.5c in the $ up to $80k then it goes up from there.

 

The above said, if you live in Thailand and are a non-resident for tax purposes, you don't have a problem if you own shares because the tax is taken out and there is also no capital gains tax payable on the sale of your shares, suffice to say, the market is down at the moment, but if you don't need to sell and have reserves in the banks to cover the nil or reduced dividends paid, you will survive until it bounces back.

 

I have lived here for 5 years and haven't paid tax on the monies I have in shares, only what money I have in the bank and from work paid for within Australia, no escaping that one unfortunately, i.e. unless you can have the money paid put into someone else's account and then transferred to yours, then it becomes their potential problem, solly honey and mum ????

 

Edited October 14, 2020 by 4MyEgo

[4MyEgo]

11 minutes ago, ThomasThBKK said:

If you live here over 180 days per year you are thai tax resident. Simple as that.

Not necessarily so, you can be a non-tax resident of your home country without being a Thai tax resident, i.e. if you don't earn money from Thailand, you are not a tax resident of Thailand, well that is under Australian tax law anyway.

[YorkshireTyke]

Thanks Thomas,

 

I have Googled where my tax office is and not far from me, I will go tomorrow or Friday and try my luck.

 

Thanks all for your replies.

[tomazbodner]

Tax residency in my case depended on a list of items that make you a tax resident in a country.

 

As I am a citizen in that country, I could not have any of these be true:

- permanent residence in that country

- owning any property in that country

- spending more than 180 days per year in that country

- having any family supported in that country

- having a job, investment or business ownership in that country

- having a spouse or children living in that country

 

As I had none of them, with PR in Thailand, no property there, spending nearly no time there ever, and not supporting any family or having a spouse/children there, the revenue department concluded that for the purposes of tax residency I am not resident there. Had I been, I'd have to declare all my Thai income there and pay tax on it.

 

Your country could differ from the list above but you should be able to find the information on the revenue department website of your citizenship.

[tomazbodner]

29 minutes ago, ThomasThBKK said:

 

 

You have to get one, they are easy to get at the tax office.

 

Just follow this guide: https://www.globalfromasia.com/thailand-tax-id/ 

 

If you live here over 180 days per year you are thai tax resident. Simple as that. 

Not as simple. That means you have to pay taxes in Thailand but doesn't mean you don't have to pay them in your home country, although there is likely an agreement in place to avoid double taxation.

 

In my case, had I not removed my tax residence in Europe, I would have to declare my Thai income there, and pay the difference in tax between Thai rate already paid and rate there, which was much higher. So basically getting Thai salary and paying European taxes.

 

As mentioned earlier - you cannot remove tax residence from your country of citizenship if you meet any criteria for tax residency as per that country's laws. In my case that required a list that I wrote from memory in previous post. I have it (not in English) somewhere, but it's irrelevant for UK, so it should be collected from UK revenue department website which will likely have it.

[YorkshireTyke]

Thomas

 

Two websites I looked at state I need my passport and house reg book, no problem there, but the third requirement is a court order appointing estate administrator. Did you have to provide that and what is it ?

 

L.P. 10.1 (individual)Photocopy of :

-  alien certificate/ passport/ PIN card/ government officer identification card.

-  House registration book of taxpayer/estate administrator

-  Court order appointing estate administrator

 

[quake]

Op The investment company you are using is uk based.

you need to understand arising income in the uk.

what ever Thai dance you are trying to do, wont help you.

if your a uk citizen. forms will need to be filled in.

but maybe not paying any tax, you still can earn 12,500 in the uk. as personal allowance. 

 

 

 

 

 

[SCOTT FITZGERSLD]

i will try to give you here some advices, based on my informal experience.

 

first, you do want to become a tax resident in thailand. that is not just because

taxes in thailand are lower and more simplified than in the western world, but also

because the thai tax system is territorial. which means that thailand will only tax you

on income earned in thailand (or brought into thailand under some conditions) and

will thailand will not care about your earning outside of thailand. that is a huge advantage

that can make you pay, legally, little or no taxes at all on millions earned outside thailand.

 

second, there is a lot of confusion among Financial advisors, lawyers bankers and other proffesionals

about those new international tax laws and regulations. i spoke to few, and some admitted

they simply do not know what is going on, while others were rude enough to give me all

kinds of wrong and misleading instructions.

 

what you need to remember is that you want to be a thai tax resident and not a u.k. tax resident.

next you should research yourself the u.k. tax laws, you can do it by few phone calls to u.k.

lawyers and accountants, some of them will give you basic advice for free, but it even pays

to pay someone good, to get a good advice. than

you will know what the u.k. law says about your situation. i think that most propably

you should not be a u.k. tax resident, this way you can bring , in the future, your money into

u.k. without having to pay any taxes on it.

[SCOTT FITZGERSLD]

5 minutes ago, quake said:

Op The investment company you are using is uk based.

you need to understand arising income in the uk.

what ever Thai dance you are trying to do, wont help you.

if your a uk citizen. forms will need to be filled in.

but maybe not paying any tax, you still can earn 12,500 in the uk. as personal allowance. 

 

 

 

 

 

if he is not a u.k. resident and he is not going to invest in the u.k., he might

not have to pay any taxes in u.k. at all, even

if he is using a u.k. based investment company (for example if he is using a u.k. investment company

to invest in the european stock market).

but he might have to pay taxes on investments in the u.k., even if he is not

a u.k. tax resident.

[quake]

6 minutes ago, SCOTT FITZGERSLD said:

if he is not a u.k. resident and he is not going to invest in the u.k., he might

not have to pay any taxes in u.k. at all, even

if he is using a u.k. based investment company (for example if he is using a u.k. investment company

to invest in the european stock market).

but he might have to pay taxes on investments in the u.k., even if he is not

a u.k. tax resident.

was there some point to your post,

he needs to understand arsing income, residency has noting to do with it.

its all on the uk government website.

 

btw you can b tax resident in more than one country.

 

[Barnabe]

https://www.gov.uk/tax-foreign-income/residence

Whether you’re UK resident usually depends on how many days you spend in the UK in the tax year (6 April to 5 April the following year).

You’re automatically resident if either:

• you spent 183 or more days in the UK in the tax year
• your only home was in the UK - you must have owned, rented or lived in it for at least 91 days in total - and you spent at least 30 days there in the tax year

You’re automatically non-resident if either:

• you spent fewer than 16 days in the UK (or 46 days if you have not been classed as UK resident for the 3 previous tax years)
• you work abroad full-time (averaging at least 35 hours a week) and spent fewer than 91 days in the UK, of which no more than 30 were spent working

 

https://www.gov.uk/tax-uk-income-live-abroad

You usually have to pay tax on your UK income even if you’re not a UK resident. Income includes things like:

• pension
• rental income
• savings interest
• wages

If you’re eligible for a Personal Allowance you pay Income Tax on your income above that amount. Otherwise, you pay tax on all your income.

The country where you live might tax you on your UK income. If it has a ‘double-taxation agreement’ with the UK, you can claim tax relief in the UK to avoid being taxed twice.

You do not normally pay tax when you sell an asset, apart from on UK property or land.

 

Non-residents do not usually pay UK tax on:

• the State Pension
• interest from UK government securities (‘gilts’)

If you live abroad and are employed in the UK, your tax is calculated automatically on the days you work in the UK.

Income Tax is no longer automatically taken from interest on savings and investments.

 

 

[YorkshireTyke]

Guys

 

I am not trying to avoid paying tax or find the cheapest country to state I am domiciled for tax reasons.

 

I don't have salary or income as stated already.

 

The investment company need the info plus my source of funds or even if I sell my investments they won't pay it out until their records are complete and they will be forced to inform the UK tax authorities of my investments/situation.

 

Thomas BKK has sorted it along with the govt website, I am a resident of Thailand for tax purposes and I need my TIN. I will and expect to pay tax on my UK pension when I eventually draw it.

[JAS21]

30 minutes ago, Barnabe said:

https://www.gov.uk/tax-foreign-income/residence

Whether you’re UK resident usually depends on how many days you spend in the UK in the tax year (6 April to 5 April the following year).

You’re automatically resident if either:

• you spent 183 or more days in the UK in the tax year
• your only home was in the UK - you must have owned, rented or lived in it for at least 91 days in total - and you spent at least 30 days there in the tax year

You’re automatically non-resident if either:

• you spent fewer than 16 days in the UK (or 46 days if you have not been classed as UK resident for the 3 previous tax years)
• you work abroad full-time (averaging at least 35 hours a week) and spent fewer than 91 days in the UK, of which no more than 30 were spent working

 

https://www.gov.uk/tax-uk-income-live-abroad

You usually have to pay tax on your UK income even if you’re not a UK resident. Income includes things like:

• pension
• rental income
• savings interest
• wages

If you’re eligible for a Personal Allowance you pay Income Tax on your income above that amount. Otherwise, you pay tax on all your income.

The country where you live might tax you on your UK income. If it has a ‘double-taxation agreement’ with the UK, you can claim tax relief in the UK to avoid being taxed twice.

You do not normally pay tax when you sell an asset, apart from on UK property or land.

 

Non-residents do not usually pay UK tax on:

• the State Pension
• interest from UK government securities (‘gilts’)

If you live abroad and are employed in the UK, your tax is calculated automatically on the days you work in the UK.

Income Tax is no longer automatically taken from interest on savings and investments.

 

 

I am UK Non-Resident and Not Ordinary Resident and also a Non Resident Landlord and have been so since 2007. I have never been back to the UK since leaving in 2007. Every year I complete an on-line tax form, the one by Tax Calc. It has always included my state pension. My understanding is that ALL UK Derived Money is taxed by the UK Government. Here in Thailand I have a tax number but it is only so that I can claim back my withholding tax. I am retired.

[jojothai]

1 hour ago, 4MyEgo said:

Not necessarily so, you can be a non-tax resident of your home country without being a Thai tax resident, i.e. if you don't earn money from Thailand, you are not a tax resident of Thailand, well that is under Australian tax law anyway.

Yes you can be a non-tax resident of your home country without being a tax resident of Thailand.

However if your home country is compliant with CRS regulations then all financial institutions (inculding banks) now require a declaration of where you are tax resident in order to maintain your account. Many will ask for proof such as the the TIN.

So you need to be tax resident somewhere.

The old days where people hopped countries and avoided tax are starting to disappear.

 

Regarding tax residency in Thailand. Please check the law in Thailand, and any double taxation agreements. Its not australian law. 

Surelynot pointed out that qualified advice is necessary.

I am not qualified to advise. However, all sites and information i read all say the same.

You are tax resident in Thaliand if you stay over 180 days in a tax year.  Its not whether you earn money that dictates it.

That is regardless of whether you are tax resident elsewhere unless there may be any provisions in a double taxation agreement with the Country concerned. However, i think the double taxation agreements do not exclude you from being tax resident.

They determine what taxes can be allowed from one country against the other.
This is a specialist area and best leave to the professionals.

Many expats resident in Thailand, do not declare tax residency and have not needed to do so if they have no income in the tax year.
However that all changes with the CRS regulations that started a few years ago.

I will give the OP some advice from experience separately.

[jojothai]

27 minutes ago, JAS21 said:

I am UK Non-Resident and Not Ordinary Resident and also a Non Resident Landlord and have been so since 2007. I have never been back to the UK since leaving in 2007. Every year I complete an on-line tax form, the one by Tax Calc. It has always included my state pension. My understanding is that ALL UK Derived Money is taxed by the UK Government. Here in Thailand I have a tax number but it is only so that I can claim back my withholding tax. I am retired.

I am not a qualified professional in this matter.
However what i understand is that, if you are non resident, you should be able to claim back the tax on the state pension in your tax return.
https://www.gov.uk/tax-on-pension/tax-when-you-live-abroad

If you’re not a UK resident, you don’t usually pay UK tax on your pension. But you might have to pay tax in the country you live in. There are a few exceptions - for example, UK civil service pensions will always be taxed in the UK.

I will find out myself after next year. In the mean time can others contribute to confirm this or not?
Your UK accountant should be able to advise, if you dont have one then find out / try declaring it.

But i suggest be aware of the following

1. If you are regarded as being non resident then your pension should not get annual increases for inflation etc. This subject has many threads discussed in TV.
Before claiming best to check that you have not been getting the increases. Otherwise you may have other issues to consider.

 

2. If possible you should not be transferring your uk pension income to Thailand until the next thai tax year after initial receipt.
Then you can avoid any potential thai tax. Thai tax is only due on income transferred in the tax year received and state pension is not excluded (unless you qualify as defined in the double taxation treaty).

[partington]

3 hours ago, 4MyEgo said:

Not necessarily so, you can be a non-tax resident of your home country without being a Thai tax resident, i.e. if you don't earn money from Thailand, you are not a tax resident of Thailand, well that is under Australian tax law anyway.

Australian tax law has no bearing on whether Thailand's law considers you a resident for tax purposes!  Each country has its own definition and criteria, and if you fulfill those you are tax resident in that country, according to that country's laws.

 

You can be tax resident in two or three countries simultaneously if you fulfill the criteria for length of stay, earnings, or etc in each of those countries, according to their own laws.

 

There is no mechanism through which being considered a tax resident by one country excludes you from being considered a tax resident* by another. It is quite possible to be a tax resident in both the UK and Thailand, for example in any year.

 

* This is not to say that there aren't tax treaties that may have the effect of preventing you having to pay tax on the same money in more than one country - there are- but these treaties do not change your tax residency status.

Edited October 14, 2020 by partington

[4MyEgo]

57 minutes ago, jojothai said:

Yes you can be a non-tax resident of your home country without being a tax resident of Thailand.

However if your home country is compliant with CRS regulations then all financial institutions (inculding banks) now require a declaration of where you are tax resident in order to maintain your account. Many will ask for proof such as the the TIN.

So you need to be tax resident somewhere.

The old days where people hopped countries and avoided tax are starting to disappear.

 

Regarding tax residency in Thailand. Please check the law in Thailand, and any double taxation agreements. Its not australian law. 

Surelynot pointed out that qualified advice is necessary.

I am not qualified to advise. However, all sites and information i read all say the same.

You are tax resident in Thaliand if you stay over 180 days in a tax year.  Its not whether you earn money that dictates it.

That is regardless of whether you are tax resident elsewhere unless there may be any provisions in a double taxation agreement with the Country concerned. However, i think the double taxation agreements do not exclude you from being tax resident.

They determine what taxes can be allowed from one country against the other.
This is a specialist area and best leave to the professionals.

Many expats resident in Thailand, do not declare tax residency and have not needed to do so if they have no income in the tax year.
However that all changes with the CRS regulations that started a few years ago.

I will give the OP some advice from experience separately.

As a non resident for tax purposes as per the definition under the taxation laws of Australia as long as one invests in the areas I mentioned previously they DO NOT pay tax in Australia or Thailand.

 

I did my due diligence years before I left to retire here 5 years ago, I have lodged tax returns through my accountant as a non resident in Australia for the past 4 years of the 5 years I have been living here (due for the 5th soon) and have paid tax to the Australian government for money earned from work within Australia, albeit it I haven't stepped foot in Australia to do the work, e.g. consultancy work, reports done via the internet, however as the money is earned on Australian soil, it is taxable in Australia, nothing to do with Thailand, regardless if I am a resident here.

 

Both my accountant and the Australian Taxation Department have both advised me that the way I have set myself up as a non-resident, Thailand is not entitled to any tax that I earn in Australia, so I consider myself covered, so to speak and am comfortable with that.

 

 

[4MyEgo]

24 minutes ago, partington said:

Australian tax law has no bearing on whether Thailand's law considers you a resident for tax purposes!  Each country has its own definition and criteria, and if you fulfill those you are tax resident in that country, according to that country's laws.

I haven't seen or read Thailand's tax laws, however as my income is derived from Australian, I cannot see how Thailand would be entitled to me paying any tax when I don't pay any tax in Australia, i.e. the tax is taken out by the company paying the share dividend to me with the tax going to the Australian Government, I only collect the tax free return, so there is the loophole in that, if it is one.

 

As mention in the above post, I have had enough professional advice and have done my own research on this before I left and set myself up to move here, that said, it works well for me and until my accountant or the Australian Government advises me to pay tax to the Thai Government, then I will continue on my merry way earning my tax free income ????

 

 

[jojothai]

4 hours ago, YorkshireTyke said:

Query on Tax residency declaration

I am not professionally qualified in these issues but I have had to battle and figure out the common reporting standard (CRS) regulations with a few banks and financial institutions over the last few years so I can offer some advice. Hope the following may help. Its a bit long, but bear with it.
Your FA should have advised you about the CRS regulations that I understand were formally implemented in the UK in May 2017. It’s a lot of reading if you want to find out for yourself.
In broad terms, the CRS regulations introduce obligations on financial institutions to identify accounts maintained for account holders for the purposes of implementing CRS, to automatically collect, report  and exchange tax information in a specified manner to HMRC (in UK)
The CRS imposes due diligence requirements of financial institutions in relation to financial accounts, including identifying the tax residence of account holders. 
When the CRS is implemented you should not be able to use any banks or financial institutions unless you declare where you are tax resident. Many of them also want proof. 
The CRS has recently been implemented in many more countries such as China and Hong Kong. Thailand have committed to join , bur not yet implemented the regulations. They will do soon, TIT.
The institutions require you to complete forms with information they require. You have to compete, sign and send the originals to them. With original copies of any ID and other documents. Passport was obviously an issue. They generally accepted that it was already on my account and where necessary certified signed copies were accepted. I had difficulty proving my home address because three institutions insisted on a formal certificate of residence that I could not get. Under the regulations it was not necessary, but they still insisted on sufficient evidence. I gave them Bangkok bank statements that included my address, and since the account had been used for transfers to the institutions, they were accepted. 
The institutions also wanted my Tax ID. I was working outside Thailand and gave them where I was, however some insisted that they also wanted a Thailand tax ID because of my home address. They insisted even though I told them that was not necessary under the CRS requirements. I had to talk to senior people to get them to agree that the CRS was self-declaration and they had no right to force me to put Thailand when I was not Tax resident. In each case they backed down and accepted my case.
I have now returned to Thailand working part time and have a Tax ID, so that’s no issue now. 
IMHO, if your investment was after May 2017, your original FA was wrong to tell you to put UK, because you had an overseas address and told them Thailand. That amy add some complications so they likely wanted things easy. It also depends if you use UK bank accounts and it could have snowballed to them and prevented investment promptly. Its probably not a big thing if the investment is small. However if you still have the investment account I recommend that you follow up to get it changed to Thailand.
If you have any bank accounts in the UK or channel Islands they should have already required the CRS information from you in 2017/2018, otherwise they are assuming you are resident in the UK. They may have had no reason to ask. However if you have an overseas address they should have requested the CRS declarations. 
For your new investment, through Fundsmith they have an obligation to query and confirm any information. They are correct to point out the issue. You have to provide a declaration. If you declare UK and any crosschecks are made, the authorities will find that you don’t have a tax code. 
In Thailand it doesn’t matter yet.
However, if you want to get these things set up you will need a Tax ID. Banks here will also need it when they implement CRS soon. Suggest its best to get the Thai Tax ID.
Follow the advice from others. I have one already because I am working part time and on a work permit. 
 

[ThomasThBKK]

42 minutes ago, 4MyEgo said:

I haven't seen or read Thailand's tax laws, however as my income is derived from Australian, I cannot see how Thailand would be entitled to me paying any tax when I don't pay any tax in Australia, i.e. the tax is taken out by the company paying the share dividend to me with the tax going to the Australian Government, I only collect the tax free return, so there is the loophole in that, if it is one.

 

As mention in the above post, I have had enough professional advice and have done my own research on this before I left and set myself up to move here, that said, it works well for me and until my accountant or the Australian Government advises me to pay tax to the Thai Government, then I will continue on my merry way earning my tax free income ????

 

 

 

As said, if u live here over 180 days u are thai tax resident. Tax residency does not mean you need to pay taxes here. If you have no taxable income you don't pay taxes.

 

  

4 hours ago, tomazbodner said:

Not as simple. That means you have to pay taxes in Thailand but doesn't mean you don't have to pay them in your home country, although there is likely an agreement in place to avoid double taxation.

 

Irrelevant for the banks purpose in terms of KYC/AML, they want to know where your main tax residency is and where to report your tax stuff too (which they usually don't do as they don't give af about thailand). 

 

 

4 hours ago, YorkshireTyke said:

Thomas

 

Two websites I looked at state I need my passport and house reg book, no problem there, but the third requirement is a court order appointing estate administrator. Did you have to provide that and what is it ?

 

L.P. 10.1 (individual)Photocopy of :

-  alien certificate/ passport/ PIN card/ government officer identification card.

-  House registration book of taxpayer/estate administrator

-  Court order appointing estate administrator

 

 

No, just tell them you have income from investments and need a tax id for the brokerage.

 

This doesn't mean u need to pay taxes here or have to make a tax report each year, it only means you have a thai tax id. Everyone should have one.  

[jojothai]

33 minutes ago, 4MyEgo said:

I haven't seen or read Thailand's tax laws, however as my income is derived from Australian, I cannot see how Thailand would be entitled to me paying any tax when I don't pay any tax in Australia, i.e. the tax is taken out by the company paying the share dividend to me with the tax going to the Australian Government, I only collect the tax free return, so there is the loophole in that, if it is one.

 

As mention in the above post, I have had enough professional advice and have done my own research on this before I left and set myself up to move here, that said, it works well for me and until my accountant or the Australian Government advises me to pay tax to the Thai Government, then I will continue on my merry way earning my tax free income ????

 

 

Hi, it seems that you are saying that you have not consulted tax laws here.

However,  I suggest you do so to figure out what applies and for double taxation exemption here v australia.

As others pointed out also, the other country does not make the tax rules here.  You should be aware of them and the

Double taxation agreements that provide the framework for tax relief on earnings from overseas.

 

I am not sayng that you need to pay tax here, and your advisors in Australia may know that you will not have to pay tax here,

but TIT and you should watch your back. Most expats and what they bring in country are not on the radar, not yet anyway.

 

The following is my understanding of some tax laws here for your information, however I am not a qualified tax advisor.

I would appreciate being corrected by others who may know better thanks. These issues are something that are very likely to be much more important when CRS regulations become fully implemented. 
They also impact on what i do when i get my uk state pension next year.

- If you are tax resident here. AKA over 180 days in a tax year then you are tax resident.
- From what i understand on all the tax platforms I have read here, as such, any money you remit into the Country earnt overseas in the same thai tax year it is remitted, may be considered to be taxable by Thai authorities.

- If the double taxation agreement provides you with relief from double taxation then you will not be taxed in Thailand. 

- Should you transfer the income here from Australia after the tax year in which it is earned it is not considered taxable in Thailand.

[Mike Teavee]

6 hours ago, YorkshireTyke said:

I will be paying tax when I claim my company pension within the next 5 years and state pension in 7 years (fingers crossed).

 

And definitely not in the millions !

You can not be UK Resident for Tax Purposes unless you spend a minimum number of days in the UK in each Tax Year...  From UK Gov site.... https://www.gov.uk/tax-foreign-income/residence 

You’re automatically non-resident if either:

you spent fewer than 16 days in the UK (or 46 days if you have not been classed as UK resident for the 3 previous tax years)

you work abroad full-time (averaging at least 35 hours a week) and spent fewer than 91 days in the UK, of which no more than 30 were spent working

 

Also, you don't pay tax on your pension(s) if you're non-UK resident for Tax Purposes (You will need to make sure HMRC recognise you as such & they should then give your pension provider a form so you can be paid without any Tax being withheld), Dividend attract no additional tax over the Tax that's automatically witheld & there are no Capital Gains tax to be paid unless it's made on Property.

 

Flipside is your State Pension will be frozen at the amount it is when it is 1st paid or the date you leave the country to become non-resident (whichever comes last) but the tax savings on your Company Pension will probably be worth more to you than the annual state pension increases especially if you're on a reduced SP because you were contracted out / worked overseas - BTW If you are working Overseas you can pay AVCs at Class 2 rates which works out about £150 pa instead of closer to £750 at Class 3.    

 

 

NB You're not allowed to put anything into Tax Free savings (ISAs/PEPs etc...) if you're Non-Resident for Tax purposes but if your FA has been putting money into these you probably want to fire them (could also raise a complaint to their governing body) as it's very clear non-residents for Tax purposes cannot invest in these & doing so invalidate the product (though chances of getting caught is probably zero). 

 

I personally would be pushing back on the FA changing my Tax Residency to UK as not only is this clearly wrong in your case, it could leave you with a Tax bill that you shouldn't have. 

 

Edit: To answer a couple of points from your OP, a UK Tax Identification Number is not the same (or same format) as your NI numbers so I'm not surprised the company rejected it, if you live in Thailand for more than 183 days of the year then you are Tax Resident here and can easily register to get a Thai Tax Identification Number (I've not done it yet but there are a few threads on here that make it sound like it's as easy as filling in a form & going into an office, the annual reporting seems quite easy as well). 

 

  

 

 

 

Edited October 14, 2020 by Mike Teavee

[Mike Teavee]

4 hours ago, Barnabe said:

https://www.gov.uk/tax-uk-income-live-abroad

You usually have to pay tax on your UK income even if you’re not a UK resident. Income includes things like:

• pension

Great Post but I disagree with his part... 

 

From https://www.gov.uk/tax-on-pension/tax-when-you-live-abroad 

Tax when you live abroad

If you live abroad but are classed as a UK resident for tax purposes, you may have to pay UK tax on your pension. The amount you pay depends on your income.

If you’re not a UK resident, you don’t usually pay UK tax on your pension. But you might have to pay tax in the country you live in. There are a few exceptions - for example, UK civil service pensions will always be taxed in the UK.

 

 

 

As mentioned in my post above, I understand that HMRC send your Company Pension scheme a certificate to say that your pension should be paid without any Tax being withheld OR you can claim it back by doing a Tax Return each year. 

 

Incidentally I also get the rental income of my house paid tax free (NR1 landlord form) & any interest from bank accounts up to £1,000 is also Tax free... 

 

 

 

  

 

From https://www.gov.uk/tax-on-pension/tax-when-you-live-abroad