Trading Uk Stocks And Shares In Thailand

[jimjams33]

does anybody know of a trustworthy Thai company that lets you deal in uk stocks and shares?

Thanks

James

[saroq]

Why would you bother trying to find a trustworthy Thai company to do something that you can do by opening an account with any US online, discount broker? Etrade, Ameratrade, thinkorswim (great software) are three that spring to mind. Just open an account. You don't have to be a US citizen and you don't have to live there either.

Edited August 11, 2011 by saroq

[Chivas]

Just open simple spread trading account with Tradefair, City Index or IG index in the UK-no restrictions on trading from here in Thailand (but not allowed if in USA)

Will cover virtually everything you'd probably be interested in ??

[somchaimaidai]

If you really want to open an account with a local rep then Oysterbay is a possibility. I have an account but have only given it light usage to be honest.

[wordchild]

Why not open an account with a UK broker, some are happy to take on customers based outside the UK. It also maybe better , if you are investing outside Thailand, to keep the whole thing offshore anyway.

If you want to use a broker based in Asia, Phillip Securities which is based in Singapore is a good choice. They also have operations in Bangkok and London

Edited August 12, 2011 by wordchild

[SantiSuk]

Some (all?) replies above fail to take taxation into account. I am only just starting my research of the benefits/disadvantages of 'leaving the UK for tax purposes', but one benefit seems to be a significantly better treatment for capital transactions - specifically no CGT and taxation of dividends may be marginally less onerous (not sure yet).

But for a tax to be applied in Thailand and not in the UK the income and gains have to arise in Thailand (or to put it more accurately - to avoid UK taxation the income and gains must not arise in the UK). A Brit who has 'left the UK for taxation purposes' (gone non-resident in the vernacular) income and gains on transactions with a UK-based institution will be income/gains arising in the UK and the non-resident would be taxable on them.

That is possibly why the OP (and maybe me fairly soon) is keen to find a source of investing where the rewards fall outside the UK tax net.

It's quite possible that using a US online discount broker and a Thai address would work but you would have to check it out with tax authorities or reputable tax advisers first. The websites may give some steer, but financial institutions usually abrogate themselves from any responsibility for personal tax implications. A US broker (whether on-line or land-based) is probably going to have to charge withholding taxes on dividends, so life is immediately more complicated.

All the above is my understanding. Happy to take any comments if other well-informeds know better. Happy to hear if anyone knows authoritatively that any of the above do fall outside the UK tax net.

[wordchild]

Some (all?) replies above fail to take taxation into account. I am only just starting my research of the benefits/disadvantages of 'leaving the UK for tax purposes', but one benefit seems to be a significantly better treatment for capital transactions - specifically no CGT and taxation of dividends may be marginally less onerous (not sure yet).

But for a tax to be applied in Thailand and not in the UK the income and gains have to arise in Thailand (or to put it more accurately - to avoid UK taxation the income and gains must not arise in the UK). A Brit who has 'left the UK for taxation purposes' (gone non-resident in the vernacular) income and gains on transactions with a UK-based institution will be income/gains arising in the UK and the non-resident would be taxable on them.

That is possibly why the OP (and maybe me fairly soon) is keen to find a source of investing where the rewards fall outside the UK tax net.

It's quite possible that using a US online discount broker and a Thai address would work but you would have to check it out with tax authorities or reputable tax advisers first. The websites may give some steer, but financial institutions usually abrogate themselves from any responsibility for personal tax implications. A US broker (whether on-line or land-based) is probably going to have to charge withholding taxes on dividends, so life is immediately more complicated.

All the above is my understanding. Happy to take any comments if other well-informeds know better. Happy to hear if anyone knows authoritatively that any of the above do fall outside the UK tax net.

sorry but this is nonsense. If you are non resident you are not subject to tax on UK dividends (though you should declare them) nor are you subject to UK CGT whilst you are non resident. However, gains taken whilst non resident can be brought into charge if you return to live in the UK within a period of five full tax years.

The issue of where any gains arise or income is taken is irrelevent, in UK tax law, for someone who was previously ordinarily resident in the UK. You are either subject to tax or you are not!

Edited August 13, 2011 by wordchild

[SantiSuk]

Back to the drawing board. Obviously I need to do a lot more research! Apologies.

I'm delighted I was wrong since I have substantial unrealised chargeable gains that apparently I can now avoid taxation on.

[fletchsmile]

....If you are non resident you are not subject to tax on UK dividends (though you should declare them) nor are you subject to UK CGT whilst you are non resident. However, gains taken whilst non resident can be brought into charge if you return to live in the UK within a period of five full tax years.

The issue of where any gains arise or income is taken is irrelevent, in UK tax law, for someone who was previously ordinarily resident in the UK. You are either subject to tax or you are not!

Wordchild,

There's a few other riders on CGT. Worth checking out the FAQs on HMRC's website

http://www.hmrc.gov.uk/cnr/faqs_capgains.htm

Q6. How long do I need to be abroad to avoid being liable to capital gains tax?

A. This depends on when you left the UK:

(i) If you left the UK on or before 16 March 1998 see the answer to Q3.

(ii) If you left the UK on or after 17 March 1998 you would need to be not resident and not ordinarily resident in the UK for at least 5 full tax years between the year you left the UK and the year of your return

Q3. I became not resident/not ordinarily resident in the UK before 17 March 1998, am I liable to capital gains tax on the disposal of assets?

A. You are not liable to capital gains tax on any disposal of assets you make during the tax years for which you are wholly not resident and not ordinarily resident here, providing they are not assets held for the purpose of a trade, profession or vocation carried on through a branch or agency in the UK. If you return to the UK you will be liable on gains from any disposals during the tax year of return. However, see the answer to Q10 concerning possible concessional treatment.