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Resident in Thailand but paying UK tax on UK assets

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2 hours ago, OJAS said:

and it is (in the view of this particular cynic, at least) clearly in the interests of handsomely-remunerated tax consultants/advisers/agents/experts that they are not!

 

This could be it, explains why its so hard find information freely.

And I'm not sure how qualified some of these online experts actually are.

 

If we paid for tax consultations we could still end up with two differing views.

 

At the moment I am clinging to what Sherrings told me, he answered clearly and did not try to sell me anything even I asked what they might charge to handle the Thai side of things when it came to selling UK property.

 

 

  • 7 months later...
  • Replies 34
  • Views 8.1k
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Top Posters In This Topic

Most Popular Posts

  • Yes, I am NRL (non resident Landlord)  as far as HMRC concerned. But that doesn't mean you are exempt from paying UK tax on Thai earnings.    I don't think you can take advantage of the tax

  • nigelforbes
    nigelforbes

    Can you declare yourself not UK resident for tax purposes, that way you can exclude Thai earnings, and take advantage of the UK tax free allowance? This is what I've done and there isn't an issue. 

  • Mac Mickmanus
    Mac Mickmanus

    He gets an income from the UK , through rental property and so he needs to pay tax on that .    

You can totally live in Thailand, pay tax there, and still have assets in the UK that HMRC will tax. The tax treaty between the UK and Thailand stops you from being taxed twice on the same income, which is handy. But it gets a bit tricky depending on what kind of income we’re talking about. For stuff like dividends and capital gains from UK shares, you’ll probably still need to pay tax in the UK, even if you’re not living there.
I looked into this when I moved abroad, and honestly, it’s not as straightforward as you’d think. There are so many little rules. If you’re navigating these complexities, getting VAT advisory from specialists could save you time and potential trouble.

 

You can totally live in Thailand, pay tax there, and still have assets in the UK that HMRC will tax. The tax treaty between the UK and Thailand stops you from being taxed twice on the same income, which is handy. But it gets a bit tricky depending on what kind of income we’re talking about. For stuff like dividends and capital gains from UK shares, you’ll probably still need to pay tax in the UK, even if you’re not living there.
I looked into this when I moved abroad, and honestly, it’s not as straightforward as you’d think. There are so many little rules. If you’re navigating these complexities, getting VAT advisory from specialists could save you time and potential trouble.

 

  • 5 weeks later...

I have a SIPP in the UK and was hoping to pass it on IHT free , but that`s not possible now thanks to RR and the recent budget . Presently , any withdrawals are taxed at source ( usually 20 % ) . If I move to Thailand and become non UK resident for tax , can I claim back these deductions ?

I also have dividend income , not sure if I need to pay UK tax on these or not .

22 hours ago, persimmon said:

I have a SIPP in the UK and was hoping to pass it on IHT free , but that`s not possible now thanks to RR and the recent budget . Presently , any withdrawals are taxed at source ( usually 20 % ) . If I move to Thailand and become non UK resident for tax , can I claim back these deductions ?

I also have dividend income , not sure if I need to pay UK tax on these or not .

Depends on your overall situation - you can still claim the personal allowance.

However it would still count towards your total income. 

Dividend income - same answer.

 

If you are remitting into Thailand and stay here more than 179 days in a calendar year, again depending on amounts, you may be liable to Thai tax to which you may be able to apply a credit from UK taxes paid except that this is all so new the mechanism to do that does not seem to be in place or clearly understood yet.......

 

 

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