What will you do if global taxes would be approved?

[KhunHeineken]

8 hours ago, Mike Teavee said:

I plan on applying for the LTR in 2026 (when my pensions start) on the assumption that it would get a similar waiver for the Global Tax change as they did for the changes to the Remittance rules. 

 

If the LTR holders don't get this then I'll effectively revert to < 180 days in Thailand but will stagger it so that some years I can spend longer than 180 consecutive days here... E.g. if this were to come in next year I might spend...  

• Jan 2025 -June 2025 In Thailand 
• July 2025- June 2026 out of Thailand
• July 2026 - June 2027 in Thailand (last 179 days of 2026 + first 179 days of 2027)
• July 2027- June 2028 out of Thailand
• July 2028 - June 2029 in Thailand (last 179 days of 2028 + first 179 days of 2029)

This is an extreme example, I would probably do more like 8/9 & 3/4 month tranches but the point is I'd time it to take advantage of the fact that I can stay in Thailand longer than 180 days as long as I stagger it across calendar years 

 

Good to see you have a Plan B.

 

If the tax forces you to become a non resident of Thailand for tax purposes, what countries have you considered for the other 6 months of the year? 

[bg53]

9 hours ago, Mike Teavee said:

I plan on applying for the LTR...

 

If the LTR holders don't get this ...

 

 

The LTR situation will be closely watched for sure.

 

 

[MangoKorat]

I looked at the original 'new taxation' arrangments where income remitted to Thailand would be taxed and was OK with that.  As for the latest proposal - to tax global income..............

 

Firstly, I doubt this will actually be enacted - there are a hell of a lot of influential Thai's that would be affected. Then there is the matter of your home country sharing your financial information with a foreign authority. Granted the anti money laundering regulations mean that many countries share information but would that include your entire position?

 

Say I sold my sole dwelling in the UK (in 99.99% of cases tax free) prior to moving to Thailand and left the money in my UK bank account - why would my country see reason to give that information to the Thai Revenue Department?  Provided I timed it right, why would any of my financial dealings in a tax year when I was resident in the UK be any of Thailand's business?

 

I haven't checked the DTA between the UK and Thailand so I'm not sure if that's covered by it.

 

That would be a game changer for me, I have no problem paying income tax - provided its the same as Thai people would pay but as for paying capital gains tax on the sale of my UK home - no way. I would have to have a rethink on my plans to move to Thailand and find an alternative.

[KhunHeineken]

26 minutes ago, bg53 said:

 

The LTR situation will be closely watched for sure.

 

 

If it becomes a loophole for many, they will surely close it. 

[KhunHeineken]

20 minutes ago, MangoKorat said:

Say I sold my sole dwelling in the UK (in 99.99% of cases tax free) prior to moving to Thailand and left the money in my UK bank account - why would my country see reason to give that information to the Thai Revenue Department? 

The proceeds from the sale of the UK property earns interest.  That interest is "income" and you are living overseas. 

 

20 minutes ago, MangoKorat said:

That would be a game changer for me, I have no problem paying income tax - provided its the same as Thai people would pay but as for paying capital gains tax on the sale of my UK home - no way. I would have to have a rethink on my plans to move to Thailand and find an alternative.

I wish you well on your search. 

 

There's a short list of countries that many are considering for either a permanent move, or a 6 months of the year relocation. 

[MangoKorat]

9 minutes ago, KhunHeineken said:

The proceeds from the sale of the UK property earns interest.  That interest is "income" and you are living overseas. 

Yes, I didn't say anything about interest, I am aware that interest is income.

 

I still doubt, even if this new proposal comes to fruition, that it will be able to be applied retrospectively so selling assets before you move should protect the original proceeds - providing they stay put.

[KhunHeineken]

20 minutes ago, MangoKorat said:

Yes, I didn't say anything about interest, I am aware that interest is income.

 

I still doubt, even if this new proposal comes to fruition, that it will be able to be applied retrospectively so selling assets before you move should protect the original proceeds - providing they stay put.

That's great for your kids, when you pass, but what about using the proceeds in Thailand?  Either some of the sale money, or the interest earned?  It becomes remitted funds. 

[MangoKorat]

2 minutes ago, KhunHeineken said:

That's great for your kids, when you pass, but what about using the proceeds in Thailand?  Either some of the sale money, or the interest earned?  It becomes remitted funds. 

I wouldn't be stupid enough to remit those funds by transfer - there are other ways.

[Mike Teavee]

1 hour ago, KhunHeineken said:

Good to see you have a Plan B.

 

If the tax forces you to become a non resident of Thailand for tax purposes, what countries have you considered for the other 6 months of the year? 

Originally I thought of just bouncing around (2 months visiting family in UK & 1 month im Europe, Bali, Vietnam, Malaysia) but I quite like the idea of using the End/Start of Tax year to do a longer stay somewhere like Philippines or Cambodia (for ease of Visa) but ideally I’d like Penang or Vietnam. 

[KhunHeineken]

7 hours ago, Mike Teavee said:

Originally I thought of just bouncing around (2 months visiting family in UK & 1 month im Europe, Bali, Vietnam, Malaysia) but I quite like the idea of using the End/Start of Tax year to do a longer stay somewhere like Philippines or Cambodia (for ease of Visa) but ideally I’d like Penang or Vietnam. 

Yes, Vietnam is my choice as well.  Most probably Danang. 

[KhunHeineken]

7 hours ago, MangoKorat said:

I wouldn't be stupid enough to remit those funds by transfer - there are other ways.

I'm aware of the other ways.  Legal, and otherwise. 

 

Do you need the grief? 

[MangoKorat]

56 minutes ago, KhunHeineken said:

I'm aware of the other ways.  Legal, and otherwise. 

 

Do you need the grief? 

Well on reflection, I do need to bring money in and possibly more than would be possible or even feasible by alternative routes. I'm not thinking of the proposals that are the OP (global income) here - rather the tax residency rules. I'm hoping that its possible to remit funds in the tax year before I become resident and if that is possible then I might 'future proof' myself and bring in more than I actually need. If that is the case then there could be 1,250,000 reasons for me to face 'the grief'.

 

People have mentioned the consequences for Thailand in introducing all of the new tax measures they are proposing. I'd only thought about that in terms of annual income and with the allowances many of us can keep that down to a level where very little or no tax would have to be paid.  What I'd never thought of is those who bring funds in to either buy a house or buy land and build on it. I can see that coming to a grinding halt.

 

The Thai tax authorities should maybe think about the Thai builders and building supply companies etc. etc............ that have for years, benefitted from foreigners having houses built but will they?  Very doubtful as they almost certainly have no idea just how many houses have been built that way over the years.

 

Who's going to sell their house in their home country where they most likely don't get clobbered for any tax at all and remit those funds to Thailand where they will be taxed on it?

 

It all seems a mess at the moment and I've spent the best part of a day reading conflicting accounts.

 

The advice below from the respected PWC seems to state that I could avoid tax even if I was resident by not remitting it in the same year as a capital gain is made.

 

'Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.'

 

https://taxsummaries.pwc.com/thailand/individual/income-determination

 

The 'last reviewed' date on the report that's from is 13 February 2024 - I thought all that changed on 1st January 2024?

 

I think the time has come to talk to and old Thai friend who works for Deloitte Thailand - I'd forgotten about her but we are still in touch and I think she will help.  I'm wanting to take money into Thailand mainly in order to start a business - I know mine would be miniscule compared to some but surely they want to attract investment - not prevent it?

[KhunHeineken]

22 minutes ago, MangoKorat said:

Well on reflection, I do need to bring money in and possibly more than would be possible or even feasible by alternative routes. I'm not thinking of the proposals that are the OP (global income) here - rather the tax residency rules. I'm hoping that its possible to remit funds in the tax year before I become resident and if that is possible then I might 'future proof' myself and bring in more than I actually need. If that is the case then there could be 1,250,000 reasons for me to face 'the grief'.

 

People have mentioned the consequences for Thailand in introducing all of the new tax measures they are proposing. I'd only thought about that in terms of annual income and with the allowances many of us can keep that down to a level where very little or no tax would have to be paid.  What I'd never thought of is those who bring funds in to either buy a house or buy land and build on it. I can see that coming to a grinding halt.

 

The Thai tax authorities should maybe think about the Thai builders and building supply companies etc. etc............ that have for years, benefitted from foreigners having houses built but will they?  Very doubtful as they almost certainly have no idea just how many houses have been built that way over the years.

 

Who's going to sell their house in their home country where they most likely don't get clobbered for any tax at all and remit those funds to Thailand where they will be taxed on it?

 

It all seems a mess at the moment and I've spent the best part of a day reading conflicting accounts.

 

The advice below from the respected PWC seems to state that I could avoid tax even if I was resident by not remitting it in the same year as a capital gain is made.

 

'Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.'

 

https://taxsummaries.pwc.com/thailand/individual/income-determination

 

The 'last reviewed' date on the report that's from is 13 February 2024 - I thought all that changed on 1st January 2024?

 

I think the time has come to talk to and old Thai friend who works for Deloitte Thailand - I'd forgotten about her but we are still in touch and I think she will help.  I'm wanting to take money into Thailand mainly in order to start a business - I know mine would be miniscule compared to some but surely they want to attract investment - not prevent it?

Interesting that you are looking to bring money into Thailand, when so many are considering getting money out of Thailand.  

 

Same old story as many western countries.  A country can't tax you if you have nothing left in the country to tax.  In this case, remitted funds, and possibly more in the future, is a real tax concern. 

 

As for the construction industry, well, there was already a big oversupply.

 

I've always thought those using dodgy Thai nominees to own property would eventually get stung here.  I never anticipated that it may be tax law that sees many unable to continue living in their property here, or possibly have to pay more for the privilege of doing so. 

 

We will see how it all plays out early 2025, but in my opinion, people should be preparing for the worse case scenario, the best case scenario, and everything in between.  

[MangoKorat]

1 hour ago, KhunHeineken said:

Interesting that you are looking to bring money into Thailand, when so many are considering getting money out of Thailand.

My move to Thailand was originally planned to take place in 2009!!! It was thwarted by the global recession and since then by other things like Brexit, Covid and inflation causing high interest rates. All of which had a highly negative affect on the property market which I was (am) involved in.  Things are finally looking better now and although I will be keeping some properties, I am selling my UK home because I can do so without being liable for any tax on it. The other properties would attract Capital Gains tax so they've been sorted differently.

 

I've been involved with Thailand for over 21 years and you could say my life exists there - at least the social side of it does.  Prior to Covid I was visiting every 8 weeks for 2 weeks - having spent 7 days per week of those 8 weeks working. I had no time for a social life anywhere else. Just about all of my friends are in Thailand and I've had a home there since 2014 - I've spent 9 years getting it how I like it. I was married to a Thai woman but I'm not now - enough about that.

 

None of us know how long we'll live so I can't guarantee that the assets I have will last me out. I also have no intention of retiring as I believe its 'the kiss of death'.  So my plan has always been to start a business in Thailand which will hopefully provide me with a reasonable income until I snuff it. It should also keep me active when I reach 'old age' 😁. There is no way on this planet I would ever 'retire' to Thailand and sit in a bar every day or spend my days hitting a small ball around with a stick - and then go to the bar.

 

Hence my need to get a chunk of money into Thailand and my worries that any changes to the taxation system could affect me negatively.  Until recently, I'd only considered the effects the new taxation rules might have on my income, I hadn't thought about the funds to start the business because I didn't think they'd be affected.  I know plenty of guys that have transferred large amounts of cash into Thailand over the years to build houses, buy cars etc. and never paid a penny in tax on it - that all seems to be under threat now.

 

 

 

 

[MangoKorat]

1 hour ago, KhunHeineken said:

As for the construction industry, well, there was already a big oversupply.

That depends on which market you're talking about.  I don't doubt there's an over-supply of condos in Bangkok or Pattaya - even houses.  However, many thousands of foreigners have built homes all over Thailand and either live there with their wives or visit regularly.  I know of one builder in my area (of Thaliand) that's spent at least the last 2 years working for foreigners.

 

If foreigners can't get their money in to pay for those builds, many small builders in Thailand will suffer + the knock-on effect. Mind you, the Revenue Department probably won't care if they do.  I suspect that very few of them (builders) actually pay tax.😁

[Mike Teavee]

3 hours ago, MangoKorat said:

The advice below from the respected PWC seems to state that I could avoid tax even if I was resident by not remitting it in the same year as a capital gain is made.

 

'Capital gains and investment income earned by a resident from sources outside Thailand are not taxable unless remitted to Thailand in the year of receipt.'

 

https://taxsummaries.pwc.com/thailand/individual/income-determination

 

The 'last reviewed' date on the report that's from is 13 February 2024 - I thought all that changed on 1st January 2024?

That must be referring to the pre-2024 rules as if it weren't then income from Bank Accounts, Dividends, Share sales, even rent from investment properties wouldn't be taxable. 

 

However, this post might be of interest to you re UK Property CGT... 

 

[JohnnyBD]

4 hours ago, MangoKorat said:

My move to Thailand was originally planned to take place in 2009!!! It was thwarted by the global recession and since then by other things like Brexit, Covid and inflation causing high interest rates. All of which had a highly negative affect on the property market which I was (am) involved in.  Things are finally looking better now and although I will be keeping some properties, I am selling my UK home because I can do so without being liable for any tax on it. The other properties would attract Capital Gains tax so they've been sorted differently.

 

I've been involved with Thailand for over 21 years and you could say my life exists there - at least the social side of it does.  Prior to Covid I was visiting every 8 weeks for 2 weeks - having spent 7 days per week of those 8 weeks working. I had no time for a social life anywhere else. Just about all of my friends are in Thailand and I've had a home there since 2014 - I've spent 9 years getting it how I like it. I was married to a Thai woman but I'm not now - enough about that.

 

None of us know how long we'll live so I can't guarantee that the assets I have will last me out. I also have no intention of retiring as I believe its 'the kiss of death'.  So my plan has always been to start a business in Thailand which will hopefully provide me with a reasonable income until I snuff it. It should also keep me active when I reach 'old age' 😁. There is no way on this planet I would ever 'retire' to Thailand and sit in a bar every day or spend my days hitting a small ball around with a stick - and then go to the bar.

 

Hence my need to get a chunk of money into Thailand and my worries that any changes to the taxation system could affect me negatively.  Until recently, I'd only considered the effects the new taxation rules might have on my income, I hadn't thought about the funds to start the business because I didn't think they'd be affected.  I know plenty of guys that have transferred large amounts of cash into Thailand over the years to build houses, buy cars etc. and never paid a penny in tax on it - that all seems to be under threat now.

 

 

 

 

No problem if you are still working and are staying less than 180 days in Thailand. You can bring in all the money you want since you are not a tax resident.

[ChaiyaTH]

17 hours ago, KhunHeineken said:

Good to see you have a Plan B.

 

If the tax forces you to become a non resident of Thailand for tax purposes, what countries have you considered for the other 6 months of the year? 

If it really comes to taxes, it would be enough to be even able to consider summers in Europe, and then a few months elsewhere to choice. If needing to stay on budget and within the region I would do most likely Vietnam. 

 

I am actually happy to not be here more than 6 months a year in the first place, I used to always travel around for around 4 months a year or more already before I had a family and son here, because I then escaped the hottest or pollution months and it made the visa stuff easier.

It's less nice if it is actually by force and you really have to watch the clock (days in a year), but the biggest issue I try to figure out is actually only the education part. It somehow seems that home education programs (costing 15-20K monthly), with a lot remote classes / teachers etc, a UK thing, seems not too bad and the only viable option. Kids could still socialize by joining sports / music etc things within the country, at that moment, anyway.

[KhunHeineken]

5 hours ago, MangoKorat said:

My move to Thailand was originally planned to take place in 2009!!! It was thwarted by the global recession and since then by other things like Brexit, Covid and inflation causing high interest rates. All of which had a highly negative affect on the property market which I was (am) involved in.  Things are finally looking better now and although I will be keeping some properties, I am selling my UK home because I can do so without being liable for any tax on it. The other properties would attract Capital Gains tax so they've been sorted differently.

 

I've been involved with Thailand for over 21 years and you could say my life exists there - at least the social side of it does.  Prior to Covid I was visiting every 8 weeks for 2 weeks - having spent 7 days per week of those 8 weeks working. I had no time for a social life anywhere else. Just about all of my friends are in Thailand and I've had a home there since 2014 - I've spent 9 years getting it how I like it. I was married to a Thai woman but I'm not now - enough about that.

 

None of us know how long we'll live so I can't guarantee that the assets I have will last me out. I also have no intention of retiring as I believe its 'the kiss of death'.  So my plan has always been to start a business in Thailand which will hopefully provide me with a reasonable income until I snuff it. It should also keep me active when I reach 'old age' 😁. There is no way on this planet I would ever 'retire' to Thailand and sit in a bar every day or spend my days hitting a small ball around with a stick - and then go to the bar.

 

Hence my need to get a chunk of money into Thailand and my worries that any changes to the taxation system could affect me negatively.  Until recently, I'd only considered the effects the new taxation rules might have on my income, I hadn't thought about the funds to start the business because I didn't think they'd be affected.  I know plenty of guys that have transferred large amounts of cash into Thailand over the years to build houses, buy cars etc. and never paid a penny in tax on it - that all seems to be under threat now.

 

 

 

 

Most on this forum have a long and established connection to Thailand.  Just in the way you changed your plans in 2009, you may want to consider adjusting your plans for Thailand. 

 

Thailand is not stable, so one can never "future proof" themselves here.  One example of this is Thailand offers no reasonable pathway to permanent residency and / or citizenship, so you will never have a "right" to live in Thailand, just a visa giving you permission to live in Thailand, which can be revoke, either individually or collectively, or the requirements change, or the duration changed etc etc. 

 

I could go on and on, another example being foreign ownership of land here etc etc, and now foreigners face tax issues here. 

 

Times are changing, and the ground is shifting beneath the feet of foreigners in Thailand.

 

It's certainly lousy timing, through no fault of your own, for executing your plan/s for Thailand.  I would be renting for a while, at least 18 months, to see how all this plays out. 

 

As for setting up a business here, I would also be postponing because if the business targets foreigners, there may be exodus, or many expats reduce their stay here by 6 months a year, so there will be less demand.  If you look at the poll on this thread, the majority are leaving Thailand for 6 months a year, with some leaving for good and just holidaying in Thailand.

 

These tax/s may be a game changer for many, yourself included.  For others, they may have little to no impact.  At this stage, we just don't know what the Thai government is going to do. 

 

I wouldn't be making major personal financial decisions involving Thailand until everyone knows where they stand in regards to these tax/s, and even then, the Thai government can vary them, so once again, it's goes back to stability here.  

 

I know it's not the news you want hear, but in my opinion, going ahead with your plan/s is now considerably more financially risky than in previous years.   

[KhunHeineken]

6 hours ago, MangoKorat said:

Mind you, the Revenue Department probably won't care if they do.  I suspect that very few of them (builders) actually pay tax.

I agree.  

 

Have you ever known the Thai government to care about the lower to middle class Thai's, the workers? 

 

In relation to the construction industry, it uses a lot of migrant laborers, particularly Burmese.  Why would the Thai government care about them? 

[Khyron]

If things go in the wrong direction causing Foreigners to not build houses and such, what do you think will happen to the home improvement mega stores? Thai Watsadu, Global, Home Pro, etc, I have only seen Farangs buying anything there, or Thai builders doing the purchasing for homes being built. When that stops the stores will definitely suffer.

[topt]

2 hours ago, Khyron said:

If things go in the wrong direction causing Foreigners to not build houses and such, what do you think will happen to the home improvement mega stores? Thai Watsadu, Global, Home Pro, etc, I have only seen Farangs buying anything there, or Thai builders doing the purchasing for homes being built. When that stops the stores will definitely suffer.

You must visit very infrequently then........

I see more Thai's shopping than foreigners especially at weekends.

You sound like another who seems to think that Thailand couldn't possibly do without us which has been proven false in many previous threads. 

[MangoKorat]

2 hours ago, topt said:

You sound like another who seems to think that Thailand couldn't possibly do without us which has been proven false in many previous threads. 

I don't think that's fair.  I can't speak for other areas but cartainly in my area, foreign buyers have contributed a small but significant amount to the local construction industry/economy. Of course they can get along without us but looking at local construction in general - the large up-market condo units around Khao Yai have almost exclusively been built by Bangkok companies who often use immigrant labour. They have also shipped in a lot of the materials used.

 

Local suppliers have, on the whole, only supplied concrete and cement. Kitchens, flooring, tiles, electrics and plumbing etc. all comes from Bangkok. That does little for the local economy whereas foreigners buy locally.  Its not huge but the foreign contribution is significant and welcomed by local builders/materials suppliers.

[MangoKorat]

A question, I believe a person is classed as tax resident if they spend more than 179 days in Thailand.  The tax year runs from 1 January to 31st December. Does the 179 days mean within a tax year and reset after 31st January or is it cumulative and mean 179 days in any 12 month period?

[topt]

Just now, MangoKorat said:

Its not huge but the foreign contribution is significant and welcomed by local builders.

Of course it is welcomed - as is most extra business.

The point is that to the powers that be it is not significant as they don't care (seemingly) about their countrymen/women toiling lower down the totem pole.

 

Now if you said it would affect the real estate tycoons then I could agree with you.

 

[topt]

Just now, MangoKorat said:

A question, I believe a person is classed as tax resident if they spend more than 179 days in Thailand.  The tax year runs from 1 January to 31st December. Does the 179 days mean within a tax year and reset after 31st January or is it cumulative and mean 179 days in any 12 month period?

No it is calendar year only. Resets every 1st January.

[MangoKorat]

2 minutes ago, topt said:

The point is that to the powers that be it is not significant as they don't care (seemingly) about their countrymen/women toiling lower down the totem pole.

Yes well that has always been a failing of successive Thai governments of all flavours - you might also say its endemic in Thai society. They concentrate of the few and ignore the many - in almost every sphere.

[MangoKorat]

19 hours ago, JohnnyBD said:

No problem if you are still working and are staying less than 180 days in Thailand. You can bring in all the money you want since you are not a tax resident.

Yes, I contacted a Thai friend who works for Deloitte in Bangkok and she sent me copies of the new rules (from the TRD) which confirm that I can remitt all the money I need into Thailand this September when I make the move, and not pay tax on it because I will not be in the country for 180 days. Clearly I can't be in the country for 180 days from September when the tax year ends on 31st December. 

 

I know that the position resets on 1st January but as I will need to go back to the UK at some point, I'll probably go back for Christmas - thereby providing a firm break in my residency, just in case they change anything else.  I will then return in January 2025 and become tax resident.

 

Moving forward, I don't spend a lot so don't need a big income. If these global taxes do become law, I'm fairly sure the tax allowances I'll be due will mean I pay little or no tax on my documented income. If my business takes off and makes a profit, its only fair that I pay tax on that.

 

I've come to an agreement with my kids and their partners to the effect that if the rules do come in, they will become tenants of 2 properties I have in the UK at a 'peppercorn rent' and sublet them to the occupiers. They will collect rents for them so on paper, I won't have any income from them.  Both couples have one none earner who can use their UK tax allowance and therefore not pay tax on that income. Both properties are 'willed' to them in any case.  They cannot therefore, gripe at me if the 'none earner' decides to become an 'earner' and finds their tax allowance is used up. I can always change my will if they don't like it. 😁

[KhunHeineken]

On 6/10/2024 at 11:24 AM, MangoKorat said:

Yes well that has always been a failing of successive Thai governments of all flavours - you might also say its endemic in Thai society. They concentrate of the few and ignore the many - in almost every sphere.

I agree, but foreigners, who have no rights here, have always been easy targets. 

[KhunHeineken]

17 hours ago, MangoKorat said:

Yes, I contacted a Thai friend who works for Deloitte in Bangkok and she sent me copies of the new rules (from the TRD) which confirm that I can remitt all the money I need into Thailand this September when I make the move, and not pay tax on it because I will not be in the country for 180 days. Clearly I can't be in the country for 180 days from September when the tax year ends on 31st December. 

 

I know that the position resets on 1st January but as I will need to go back to the UK at some point, I'll probably go back for Christmas - thereby providing a firm break in my residency, just in case they change anything else.  I will then return in January 2025 and become tax resident.

 

Moving forward, I don't spend a lot so don't need a big income. If these global taxes do become law, I'm fairly sure the tax allowances I'll be due will mean I pay little or no tax on my documented income. If my business takes off and makes a profit, its only fair that I pay tax on that.

 

I've come to an agreement with my kids and their partners to the effect that if the rules do come in, they will become tenants of 2 properties I have in the UK at a 'peppercorn rent' and sublet them to the occupiers. They will collect rents for them so on paper, I won't have any income from them.  Both couples have one none earner who can use their UK tax allowance and therefore not pay tax on that income. Both properties are 'willed' to them in any case.  They cannot therefore, gripe at me if the 'none earner' decides to become an 'earner' and finds their tax allowance is used up. I can always change my will if they don't like it. 😁

Retire and come to Thailand when you want to. 

 

By mindful of the 179 days.

 

Rent for a while.  Bring some cash.  Remit some some money, but under the threshold.  Use your UK ATM card.  

 

Be patient and see what happens to residents of Thailand for tax purposes early 2025. You're only 6 months away from seeing how this unfolds. 

 

Why the big hurry?