Tax on UK pension

[bradiston]

50 minutes ago, Orinoco said:

Not so sure about tax deductible.

I asked the horses mouth about 3 years ago about this very issue, and the tech guy told me.

( in roughly these words )

 if it's self assessment,  property income as a uk none resident, the option of submitting a paper return is provided by HMRC, if you chose not to use this, that is your choice and your expense, so not deductible.

read what you want in to that. so i just leave that expense off my return i do,  using third party software. 

That's torn it !!!!!!!!!! ha ha.????

 

 

 

Yeah, the paper tore/got wet/the dog ate it. The paper option is such a non starter for me. I find it hard to believe this isn't a wind up. I avoid paper and printing unless absolutely necessary. Printers are expensive to buy and maintain, plus the ream of A4. And every time you want to edit, you have to print out another sheet. Then you'll need to keep a hard copy of the completed return. Then there's sending it. I find it hard to believe you just drop it in the mail here. No tracking? No signature required? Supposing HMRC say they never received it? They won't tell you until there's a fine to pay. And why chop down a lot of trees to do a tax return? No, it's definitely NOT an option, at least, not a viable one.

 

As usual, HMRC wants it both ways. They encourage digitisation, then, if what you say is correct, penalise you for taking up the option. I shall continue to claim the cost of the software as a legitimate expense. It's a time, cost and space saving option, for both parties. They can chase me for it if they could possibly give a txxx!

[Oxx]

13 minutes ago, bradiston said:

Printers are expensive to buy and maintain

You can take the .pdf file to your local print shop and get it printed there - but surely almost everybody has a printer.

 

And printers aren't expensive.  One can buy a printer for ฿2,290 (GBP 52), and if all you use it for is printing your tax return, it will last for years at no additional expense.  SimpleTax, for example, costs GBP 49 every year.  It makes the paper option very good value for money.

 

14 minutes ago, bradiston said:

every time you want to edit, you have to print out another sheet

Ever heard of "Tippex" or "Liquid Paper", or simply crossing out the error and signing the correction?

 

15 minutes ago, bradiston said:

Supposing HMRC say they never received it?

 

You can check whether they've received it online.  

[Orinoco]

Just now, Oxx said:

 

You can check whether they've received it online.  

That is true, but you may not have time to resubmit a new return in the time frame of October for paper copies, maybe a 100 quid fine !!!!!!!!!!!!!!!!!! 

 

 

 

 

Edited June 28, 2021 by Orinoco

[bradiston]

9 minutes ago, Oxx said:

You can take the .pdf file to your local print shop and get it printed there - but surely almost everybody has a printer.

 

And printers aren't expensive.  One can buy a printer for ฿2,290 (GBP 52), and if all you use it for is printing your tax return, it will last for years at no additional expense.  SimpleTax, for example, costs GBP 49 every year.  It makes the paper option very good value for money.

 

Ever heard of "Tippex" or "Liquid Paper", or simply crossing out the error and signing the correction?

 

 

You can check whether they've received it online.  

Tipex? Sorry, what century is this? And try claiming the costs of a printer and paper and copying when there's a digital option! Crossing out the error and signing? Is this for real? If it involves figures involved in calculating sums, you're going to have to edit at several points. And using a printer once a year is hardly efficient usage or a worthwhile investment, plus, the ink will dry and become unusable, very expensive and an enormous hassle to replace, and even laser ones will dry up. You can save copies of your completed return to disk, plus estimated tax liabilities. Add and delete sections as required. The software does it all for you. Paperless - the way to go!

 

If you can check they've received it online, which is automatic on the digital return, why not actually do the whole thing online? For £15, it's a gift if you ask me!

[khunPer]

1 hour ago, Oxx said:

And printers aren't expensive.  One can buy a printer for ฿2,290 (GBP 52), and if all you use it for is printing your tax return, it will last for years at no additional expense.

Even cheaper.

I paid 995 baht in Power Buy for my last HP Deskjet 1000 printer without scanner (I only needed the power supply unit for my larger HP combined scanner-printer, but they didn't have PSUs in in stock). You can buy printers on Lazada for 1,500 baht or less, for example a Canon Pixma G2010 scanner-color printer for 1,500 baht, or a Canon Laser LBP6000 printer for 1,400 baht, or a Canon TS205 ink jet color printer for 1.390 baht...????

[scubascuba3]

1 hour ago, khunPer said:

Even cheaper.

I paid 995 baht in Power Buy for my last HP Deskjet 1000 printer without scanner (I only needed the power supply unit for my larger HP combined scanner-printer, but they didn't have PSUs in in stock). You can buy printers on Lazada for 1,500 baht or less, for example a Canon Pixma G2010 scanner-color printer for 1,500 baht, or a Canon Laser LBP6000 printer for 1,400 baht, or a Canon TS205 ink jet color printer for 1.390 baht...????

No need to buy when you can print for 0.5 baht a sheet from shops

[Thailand]

4 hours ago, Thailand said:

Talking of tax rebates. HNRC received my paperwork 9 weeks ago, nothing yet.

 

However- "How long does a HMRC tax refund take? On average, it can take HMRC up to 12 weeks to process a tax refund claim. Then anywhere from several days to 3-4 weeks on top of that to receive your rebate."

 

Up to 4 months!  ????

Prompted me to check out the status.

 

Called HMRC, got straight through this morning. Answered a couple of questions.

Confirmed that docs had been received 9 weeks ago, yet to be passed to any team for handling due to massive backlog.

Confirmed around 12 weeks from receipt plus additional month to issue rebate(If any).

[bradiston]

2 hours ago, khunPer said:

Even cheaper.

I paid 995 baht in Power Buy for my last HP Deskjet 1000 printer without scanner (I only needed the power supply unit for my larger HP combined scanner-printer, but they didn't have PSUs in in stock). You can buy printers on Lazada for 1,500 baht or less, for example a Canon Pixma G2010 scanner-color printer for 1,500 baht, or a Canon Laser LBP6000 printer for 1,400 baht, or a Canon TS205 ink jet color printer for 1.390 baht...????

I have a Brother mono laser printer/scanner/copier. There are times when hardcopy is required, eg, signed legal forms. But it's still an unnecessary item and expense if you're doing a digital tax return.

[sandyf]

32 minutes ago, Thailand said:

Prompted me to check out the status.

 

Called HMRC, got straight through this morning. Answered a couple of questions.

Confirmed that docs had been received 9 weeks ago, yet to be passed to any team for handling due to massive backlog.

Confirmed around 12 weeks from receipt plus additional month to issue rebate(If any).

I did my tax return online on 24th April this year and the refund was credited to my UK account on the 30th April. Took a day longer this year than last year. Online refunds have always been about a week.

I have been doing my return online every year since I came to live in 2008. You need to be set up through the Government Gateway and have a UK number for the OTP. If your tax affairs are quite simple it is not a problem.

The text on the IR website is ambiguous and can be read in which ever way you choose.

[bojo]

On 6/27/2021 at 4:08 AM, Oxx said:

I'm not sure I'd call 34 baht "expensive to send".  And HMRC does the calculations for you.  (No need for EMS since you can check online whether the return has been received or not.)

touchez.....................

[Orinoco]

55 minutes ago, sandyf said:

I did my tax return online on 24th April this year and the refund was credited to my UK account on the 30th April. Took a day longer this year than last year. Online refunds have always been about a week.

I have been doing my return online every year since I came to live in 2008. You need to be set up through the Government Gateway and have a UK number for the OTP. If your tax affairs are quite simple it is not a problem.

The text on the IR website is ambiguous and can be read in which ever way you choose.

you do not need a uk number for OTP, a Thai number is fine.

Why would; you have a uk number when you live in Thailand ?

 

 

 

Edited June 28, 2021 by Orinoco

[bradiston]

1 hour ago, bojo said:

touchez.....................

What's the benefit of having HMRC doing the calculations for you. You mean to say you send in your return "blind"? The software available for a measly £15 will give you a running total of your tax liabilities. At the end you can see what you can expect to pay, and when, and how the calculations are done. Presumably, most people have a rough idea before they start in any case. If it's wildly out, you can go back through your digital form and check, maybe not declare the £15,000,000 crypto after all. If all else fails, you can just scrub the whole thing and start again. I'd like to see somebody doing that with a paper return!

[bojo]

1 minute ago, bradiston said:

What's the benefit of having HMRC doing the calculations for you. You mean to say you send in your return "blind"? The software available for a measly £15 will give you a running total of your tax liabilities. At the end you can see what you can expect to pay, and when, and how the calculations are done. Presumably, most people have a rough idea before they start in any case. If it's wildly out, you can go back through your digital form and check, maybe not declare the £15,000,000 crypto after all. If all else fails, you can just scrub the whole thing and start again. I'd like to see somebody doing that with a paper return!

For me, a poster coming back with a 34b alternative which might work for him as opposed to a 100 fold alternative deserves a 'touchez' regardless of who is correct, that is up to interpretation................

[scubascuba3]

46 minutes ago, Orinoco said:

you do not need a uk number for OTP, a Thai number is fine.

Why would; you have a uk number when you live in Thailand ?

 

 

 

Best to have a UK number for UK banks if you still have one

[Orinoco]

15 minutes ago, scubascuba3 said:

Best to have a UK number for UK banks if you still have one

No

I use offshore jersey accounts.

no need for mainland uk banking.

unless your up to something. !!!!!!!!!!! LOL.

[scubascuba3]

19 minutes ago, Orinoco said:

No

I use offshore jersey accounts.

no need for mainland uk banking.

unless your up to something. !!!!!!!!!!! LOL.

It's not all about you. For those that have UK bank accounts it's best to have a UK number for OTPs

[Orinoco]

12 minutes ago, scubascuba3 said:

It's not all about you. For those that have UK bank accounts it's best to have a UK number for OTPs

Why have a uk mainland bank account ?

when you live in Thailand ?

Not needed,  or is it ?  why ?

Does your uk bank know you live in Thailand ?

 

 

 

 

Edited June 28, 2021 by Orinoco

[spornb]

On 6/27/2021 at 12:10 PM, mickyr55 said:

Not true just have a UK current bank account using UK address, family member, friend whatever, ship capital over here when required still get pension increase no tax in Thailand also claim back all tax paid by Thai bank on your capital over here because you haven't any Thai income,             easy-peasy????????

 

On 6/27/2021 at 11:37 AM, bradiston said:

Sure. If you want the annual increase, move to the Philippines!

 

I posted factual information relating only to thailand, and stated that, my wish was to assist and correct a lot of wrong information

 

There are many countries where the increase is still paid

 

Using UK address to get pension increases, and living in Thailand is out and out fraud, if you were identified by your dishonest post you would at best be made to repay or even face a jail sentence

 

I resist from posting a lot these days because of so many NEGATIVE people on the forum

[spornb]

Avoid LEGALLY any tax on UK private pensions, move to say gibraltar QROPS, and when pension paid first 30% of pot tax free

 

Then 5% on distributions

 

I did this ten yrs ago

[Oxx]

15 minutes ago, spornb said:

Avoid LEGALLY any tax on UK private pensions, move to say gibraltar QROPS

 

Times have changed.  If you're resident in Thailand you'll take a massive tax hit when you move your pension to a QROPS.  An absolute non-starter these days.

[dabhand]

1 hour ago, spornb said:

Avoid LEGALLY any tax on UK private pensions, move to say gibraltar QROPS, and when pension paid first 30% of pot tax free

 

Then 5% on distributions

 

I did this ten yrs ago

 

Tax on Gibraltar QROPS distributions is 2.5%. At least, that is what I pay.

[Oink]

If you are from the UK:

You have a UK Tax liability on any income generated in the UK.

You do not have a Thai Tax liability on any income generated outside of Thailand.

Cannot make it any simpler than that.

 

[Oxx]

18 minutes ago, Oink said:

Cannot make it any simpler than that.

 

Pity it's not correct, though.

[bradiston]

2 hours ago, Orinoco said:

Why have a uk mainland bank account ?

when you live in Thailand ?

Not needed,  or is it ?  why ?

Does your uk bank know you live in Thailand ?

 

 

 

 

Mine couldn't give a monkey's. Why would it?

[bradiston]

4 hours ago, bojo said:

For me, a poster coming back with a 34b alternative which might work for him as opposed to a 100 fold alternative deserves a 'touchez' regardless of who is correct, that is up to interpretation................

Of course I was forgetting, cheap is the best. Not!

[Antiparovian]

Ask HMRC if you are an honest person. Or a UK Tax Adviser.

[Orinoco]

18 minutes ago, bradiston said:

Mine couldn't give a monkey's. Why would it?

You think a bank dose not care about the address you give them.  Amazing.

Try opening a new high street uk bank account with a Thai address,  how do you think that will go down.

Got anymore gems for us. LOL

 

 

 

 

 

Edited June 28, 2021 by Orinoco

[spornb]

1 hour ago, dabhand said:

 

Tax on Gibraltar QROPS distributions is 2.5%. At least, that is what I pay.

 

You are very correct, apologies I was making the point it is very low, I WAS WRONG ON WHAT I STATED

[bradiston]

2 hours ago, Orinoco said:

You think a bank dose not care about the address you give them.  Amazing.

Try opening a new high street uk bank account with a Thai address,  how do you think that will go down.

Got anymore gems for us. LOL

 

 

 

 

 

I don't need a new UK bank account. Amazing, isn't it?

[Thailand]

15 hours ago, sandyf said:

I did my tax return online on 24th April this year and the refund was credited to my UK account on the 30th April. Took a day longer this year than last year. Online refunds have always been about a week.

I have been doing my return online every year since I came to live in 2008. You need to be set up through the Government Gateway and have a UK number for the OTP. If your tax affairs are quite simple it is not a problem.

The text on the IR website is ambiguous and can be read in which ever way you choose.

Probably my situation is different. No dealings with HMRC or tax paid or claimed since 1985.

An event has occured that created a tax liability via taking a pension pot resulting in tax at max being paid on total, that necessitated multiple original documents P45 etc being sent to Newcastle. Online was not an option. 

Unlikely to have additional dealings with HMRC in the future either.