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Why are UK expats still doing the 800K deposit for retirement extensions ?

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1 minute ago, retarius said:

For the few hundred baht in extra income which you spend in bank fees transferring it over here, and the general hassle of doing anything in the UK from Thailand, I simply don't see any value in banking in the UK. 

Many people have uk rental income and a uk high street bank is good for that.

I use Santander offshore, as i don't have a mainland uk bank account anymore. :sad:

 

 

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  • Surely, at retirement age, after a lifetimes work, 800,000 Baht should'nt be to hard to come up with! ????

  • My yearly extension costs 1900 baht! 5700 baht with multiple entry!

  • Captain Monday
    Captain Monday

    Is it worth the hassle and uncertainty of maintaining the monthly transfers? How much income tax would you pay HMRC for the interest earned in year on 800k baht Pounds sterling equivalent?

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I think the max you could get on a 1 yr deposit is around 6 % , and that`s before tax . I get c . 5.25 % in a money market fund , but have to pay platform charges . Not that great a deal - still less than inflation .

On 9/26/2023 at 6:48 AM, 2baht said:

 

My yearly extension costs 1900 baht! 5700 baht with multiple entry!

MUCH more if you factored in the lost interest . Tried the simple calculation.?

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