Residency In Thailand To Dodge Uk Tax ?

[scaffolder1]

HEY

I am living in thailand now 4 years married with a wee baby on the way i have a house and 2 small bars here ....and am working in the uk 3 weeks and in thailand 3 weeks so i am still paying the killer uk tax!!!! seeking any info on thai residency and how to go about it and would it benifit my situation ?? so if theres anyone out there HELP and theres free beer involved lots off it !!!

[tazman]

HEY

I am living in thailand now 4 years married with a wee baby on the way i have a house and 2 small bars here ....and am working in the uk 3 weeks and in thailand 3 weeks so i am still paying the killer uk tax!!!! seeking any info on thai residency and how to go about it and would it benifit my situation ?? so if theres anyone out there HELP and theres free beer involved lots off it !!!

i thought if you were out of england for 6 months you paid less tax. maybe wrong!!!????

[khunphilip]

HEY

I am living in thailand now 4 years married with a wee baby on the way i have a house and 2 small bars here ....and am working in the uk 3 weeks and in thailand 3 weeks so i am still paying the killer uk tax!!!! seeking any info on thai residency and how to go about it and would it benifit my situation ?? so if theres anyone out there HELP and theres free beer involved lots off it !!!

i thought if you were out of england for 6 months you paid less tax. maybe wrong!!!????

I would say youare wrong any money earned in UK is taxable even to non residents ask any one who has a company pension living here mind you I do not know about if you are paid cash in hand then its between you and the taxman

[tazman]

HEY

I am living in thailand now 4 years married with a wee baby on the way i have a house and 2 small bars here ....and am working in the uk 3 weeks and in thailand 3 weeks so i am still paying the killer uk tax!!!! seeking any info on thai residency and how to go about it and would it benifit my situation ?? so if theres anyone out there HELP and theres free beer involved lots off it !!!

i thought if you were out of england for 6 months you paid less tax. maybe wrong!!!????

I would say youare wrong any money earned in UK is taxable even to non residents ask any one who has a company pension living here mind you I do not know about if you are paid cash in hand then its between you and the taxman

another way,which i do if youre selfemployed is to have a good accountant. keep every reciept and you should get a good rebate at end of the year.

[AyG]

HEY

I am living in thailand now 4 years married with a wee baby on the way i have a house and 2 small bars here ....and am working in the uk 3 weeks and in thailand 3 weeks so i am still paying the killer uk tax!!!! seeking any info on thai residency and how to go about it and would it benifit my situation ?? so if theres anyone out there HELP and theres free beer involved lots off it !!!

Residency in Thailand will have no impact upon your UK tax situation.

The best you could hope for is to become non-resident for UK tax purposes, but for that you'll have to limit your self to 90 days/year in the UK on average, and by your own account you're spending half the year there. If you can become non-resident you will only pay UK tax on income earned in the UK. You still get the full annual allowances, so if your UK income is modest, you could well end up paying no tax.

As it stands, your UK and Thai incomes are both UK taxable. And your Thai income is taxable in Thailand, too, so make sure you look into the UK-Thailand double taxation treaty. Details available on the HMRC website.

[phutoie2]

Yes it would have to be a modest Uk income. This years tax allowance for people under 65 is 5435 GBP.

The basic rate of income tax 10p rate on the first 2230 GBP has gone and the standard rate is reduced from 22% to 20%.

It will apparently affect those below 65 in a childless household on UK incomes below 18,500 GBP.

This was announced by the Hon G Brown in his last budget in March 2007 to come into effect at the start of this years tax year.

Now he is PM one wonders at this strategy as it will affect mainly the lowly paid who are usually core Labour supporters. He is after wooing middle England but I think his days are numbered.

From my own calculations here in Thailand I will pay about an extra 120GBP on my UK yearly income.

On the bright side when age 65 tax allowance now 9030 GBP, A few years away for me though!!!

[sweetchariot]

I am truly shocked by the level of misinformation on this thread, perhaps this is not the best place to ask for financial advice.

I spent nearly 10 years advising high net worth clients how to mitigate their tax liability for Lloyds and Barclays, if you would like some serious info then PM me and we will have a serious chat (and bring lots of beer).