Recently sold house in UK

[kevtheblue]

I sold my house december 24, I will be moving to Thailand july 9th. Not sure  if property had to be sold before start of 2024 or end of 2024 to avoid tax payments.

[hotandsticky]

Tax payments to whom?

[oxo1947]

 

How old are you ??   

Where have you picked to move to ?   

Are you married to Thai ? 

....are you going to bring all your money across or wait for a better rate time? 

 

I'm  Just a nosy person Kevtheblue..........

[hotandsticky]

1 minute ago, oxo1947 said:

 

How old are you ??   

Where have you picked to move to ?   

Are you married to Thai ? 

....are you going to bring all your money across or wait for a better rate time? 

 

I'm  Just a nosy person Kevtheblue..........

 

 

Not nosey.......we just need the full details if advice is required.

 

 

I still think my advice will be  ........it is obviously too late for the current tax filing and .... only bring in to Thailand what you need - then do nothing as far as the Thai tax authorities are concerned (unless you are already filing tax returns.

[chickenslegs]

My suggestion.

If you intend to bring a large sum of money into Thailand this year, just make sure that you are not a tax resident this year by spending less than 180 days in the Kingdom during 2025.

[KhunLA]

Something to think about, an option, if you need a place to put your funds. 

 

One option, and surely there are more ...

https://www.expat.hsbc.com/international-banking/non-resident-bank-accounts/

 

Some would suggest bring in via ATM, when needed, not to avoid taxes, as not allowed to suggest, but just for convenience sake.   Which I used to do with my company pension.

 

In which case, try to find no fee account, that reimburse any 'in country' bank transaction fees.

 

[topt]

54 minutes ago, kevtheblue said:

I sold my house december 24, I will be moving to Thailand july 9th. Not sure  if property had to be sold before start of 2024 or end of 2024 to avoid tax payments.

You say you will be moving so presumably not Thai tax resident in 2024?

As long as not and staying out of Thailand for more than 180 days in 2025 (so no visits in 2025 until you move July 9th would just qualify) you can bring in what you want in 2025 and not be liable for tax in Thailand (under current rules).

 

Potential liability to home country taxes is a different subject.

[kevtheblue]

Thanks for help, 

Age  60

Phetchabun area

getting married  ASP

2 young daughters

 

Will be looking to bring £50k  (do i have until the end of 2025 to do this).

I have not been to Thailand for nearly 2years.

[AlexRich]

Be careful moving funds to Thailand. The new and confusing tax rules could easily trip you up. Make sure you get solid professional advice before doing anything. 

[UKresonant]

5 hours ago, kevtheblue said:

Thanks for help, 

Age  60

Phetchabun area

getting married  ASP

2 young daughters

 

Will be looking to bring £50k  (do i have until the end of 2025 to do this).

I have not been to Thailand for nearly 2years.

Non tax resident so you have till the end of 2025 to sort things out, if not going until 9th July. 

 

You could also create some savings account pots (ideally with the interest mandated to a different account).  That should not be subject to tax on sending to Thailand in later years, if you keep the paper trail.

 

Trust you are keeping UK accounts open as far as possible.

 

Non-Resident Sterling FCD account could be useful perhaps to SWIFT into. If you think the GBP THB rate may become slightly improved. 

 

I've not been to Phetch for about 22 years!

[oxo1947]

6 hours ago, kevtheblue said:

Will be looking to bring £50k 

You can get a paper from the Thai bank ---(I can not remember the name of it) which if you want to send that amount of money back out at a latter date---you can

[HK MacPhooey]

On 2/13/2025 at 11:30 AM, KhunLA said:

Something to think about, an option, if you need a place to put your funds. 

 

One option, and surely there are more ...

https://www.expat.hsbc.com/international-banking/non-resident-bank-accounts/

 

Some would suggest bring in via ATM, when needed, not to avoid taxes, as not allowed to suggest, but just for convenience sake.   Which I used to do with my company pension.

 

In which case, try to find no fee account, that reimburse any 'in country' bank transaction fees.

 

The ATM solution would be the worst due to the bt200 transaction fee plus a fiver or so UK bank charge and a maximum bt20-30k per transaction.

 

Bring in the equivalent of USD10k cash for starters get set up with a Thai bank account and go with wire transactions there on.