May 24, 20232 yr Wife absolutely doing my head in - doesn't seem to get it into her head that British Children are British by Birth not by passport, keeps pushing for the kids to get their first British passport even though that will bring them to the attention as future HMRC tax payers (CRS + Death Taxes/Inheritance) instead of just allowing them to apply for a British Passport as and when they need it in a few years and travelling on a Thai passport for the interim period - ideally 10 yrs. Anyway rant over. Where do they apply - Thailand or remote to the UK? What docs are needed? Seem to get conflicting and transferred to EIRE when ringing the hotline.
May 24, 20232 yr A bit of a silly outlook that. The UK passport offers far greater opportunity for ease of travel etc. There are very few reasons not to get a British Passport for your kids. The ‘tax’ reason is not valid at all as its sole reliant of ‘residency’ regardless of nationality. If you’re not even sure how or where you apply for a passport, I suspect you haven’t even evaluated the option with any sensible thought whatsoever. Have you not even googled it ????
May 24, 20232 yr It is a simple process simply follow the link https://www.gov.uk/overseas-passports It might be easier to do it now and get it out of the way, who knows what extra hoops mighty come in the future, remeber they are british citizens so they will not be able to travel to the uk on a tourist visa they would need to apply for a certificate of entitlement, which will probably cist the same as a passport
May 24, 20232 yr Your Wife is correct , its better to do it now as it would be very difficult to do if you accidently died . All the info is online , do a webseach and go to the U.K Government websites where they tell all you all need to know
May 24, 20232 yr 17 minutes ago, richard_smith237 said: There are very few reasons not to get a British Passport for your kids. The ‘tax’ reason is not valid at all as its sole reliant of ‘residency’ regardless of nationality. This. Having a UK passport does not imply any tax liability. I've held a UK passport since I got my first one at age 14 and I haven't paid UK tax since 1981 when I became non-resident for tax purposes. Conversely, if you're resident and earning taxable income in the UK (and don't have non-dom status) you'll have to pay UK taxes even if you don't hold a UK passport.
May 24, 20232 yr To get your kid a UK passport, the key document you'll need to produce is your 'long-form' birth certificate to prove that you're British Otherwise Than By Descent, so, unless you have this with you in Thailand, it's something you need to organise. Once you have it, you apply via HMPO at the VFS offices in Bangkok or Chiang Mai. It's quite straightforward as long as you have the required paperwork.
May 24, 20232 yr Author Actually that's not true. It costs 125,000 $ approx to acquire tax free citizenship, which can provide such, pocket change in the grand scheme of things. At the moment they are not registered with the UK but are registered in Thailand, the moment they become known to the UK there's the potential for some form of taxation [on my wealth] at my demise. As it stands it's 0 in the UK bar localised tax for local asset(s). If they decide to relocate to the UK, and if the UK changes the current inheritance tax system to include overseas - then they are looking at 40-60% tax on any assets, the UK has 2.x trillion of debt and will likely have 3 trillion by 2025. - you think they won't change the current tax system? seriously? In Thailand it's 10%+ 4 hours ago, richard_smith237 said: A bit of a silly outlook that. The UK passport offers far greater opportunity for ease of travel etc. There are very few reasons not to get a British Passport for your kids. The ‘tax’ reason is not valid at all as its sole reliant of ‘residency’ regardless of nationality. If you’re not even sure how or where you apply for a passport, I suspect you haven’t even evaluated the option with any sensible thought whatsoever. Have you not even googled it ????
May 24, 20232 yr 39 minutes ago, Jenkins9039 said: It costs 125,000 $ approx to acquire tax free citizenship What on earth are you talking about. 40 minutes ago, Jenkins9039 said: the moment they become known to the UK there's the potential for some form of taxation [on my wealth] at my demise. What on earth are you talking about...
May 24, 20232 yr Author 40 minutes ago, Gaccha said: What on earth are you talking about. If you read, clearly I am concerned of the potential for the UK to realise the debt is so high that they come after overseas assets in death duties, currently they do not - kids being given passports now would make the government (*uk) aware they exist as such with CRS (common reporting standards) when i die, my assets would be at risk for potential overseas taxation as they would be net parties to those distrib. Rather simple really. Gov in debt -> needs cash -> raids overseas assets (death duties, income tax) -> kids reg will be linked up to me -> CRS informs of assets -> death certifc reg for me -> Gov comes for tax. Currently there is no tax overseas -> this is changing.
May 26, 20232 yr Popular Post On 5/24/2023 at 9:46 PM, Jenkins9039 said: If you read, clearly I am concerned of the potential for the UK to realise the debt is so high that they come after overseas assets in death duties, currently they do not - kids being given passports now would make the government (*uk) aware they exist as such with CRS (common reporting standards) when i die, my assets would be at risk for potential overseas taxation as they would be net parties to those distrib. Rather simple really. Gov in debt -> needs cash -> raids overseas assets (death duties, income tax) -> kids reg will be linked up to me -> CRS informs of assets -> death certifc reg for me -> Gov comes for tax. Currently there is no tax overseas -> this is changing. As you didn’t even know how to go about getting a British Passport while overseas I’ll hazard a guess and suggest you are not best researched about this issue either. UK inheritance is greater than £325,000 in assets attracts 40% on any amount above that. The rest of your concerns are simple ‘whataboutery’ and ‘whatifery’...
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