UK Things you cannot (legitimately) do if you live in Thailand

[JB300]

Almost derailed the UK Pensions thread by getting into a debate on renewing a UK driving license so thought I'd start a new topic on the things you cannot legitimately do (by this I mean not falsely declaring you live at an address in the UK or failing to update the relevant authority that you no longer live there) if you live in Thailand.

1. Get the annual State Pension cost of living increase

2. Renew your UK Driving License

3. Play the National Lottery

4. Add additional funds to your ISA (assumes you're non-UK resident for Tax Purposes)

5. Invest in the upcoming TSB flotation

Would be interested to learn if there were any other things that I'm not aware of.

Cheers

JB

[stoneyboy]

Sign on.

Edited May 28, 2014 by stoneyboy

[Familyonthemove]

...... you can't get free NHS healthcare either.

Can't really complain as I no longer need to pay NI either.

[JB300]

Interesting one as I think they've very recently changed the rules so you can get treatment on the NHS if you've paid at least 7 years NI

[laolover88]

Can't claim Child Benefit

Can't change your bank account or open a new one without a UK address

Can't get your mail redirected for more than two years at a go.............

[Familyonthemove]

Interesting one as I think they've very recently changed the rules so you can get treatment on the NHS if you've paid at least 7 years NI

Thanks ..... I didn't know that. I've been paying for BUPA in UK (and in Thailand) as I thought I could not get NHS ..... will have a look into this to see if I can save some money. I only spend a couple of weeks a year in UK anyway but I've been paying NI for over 20 years before I left UK.

[i claudius]

and you must not lie and use a UK address ,just like most on here do ,L.O.L

[JB300]

Lol... I'm not denying that people might tell the odd porky [emoji6] but trying to get a list of things that "Legitimately" (my definition is not tell porkies/omit the truth) cannot be done.

[David48]

Enjoy that wonderfull English weather ...

[AhFarangJa]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

[Familyonthemove]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Really? Oh bugger!

[billbenbob]

Free bus pass

Sent from my iPad using Thaivisa Connect Thailand mobile app

[Sena Dave]

The problem with getting NHS treatment is you lose your GP ,or you used to, if you do not use them for 5 years. I believe they try and contact you a few times before they send your records back to their Central office. It happened to me and I didn't know until I tried to visit the doctor after being back in the UK for a few months. So if you do go home to get treated for something a bit nasty , you need your GP to get referred to the Hospital obviously.

[JB300]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Why not??? - one of the good things about not living in the UK is you can Buy & Sell shares without paying Capital Gains Tax (as long as you're a non-UK resident for tax for at least 5 Tax years or bought the shares after you became a non-UK tax resident)

If you're having problems with your broker, try Barclays Stockbrokers.

Edited May 28, 2014 by JB300

[alanrchase]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Agreed, but you can transfer them to another person.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

[alanrchase]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Why not??? - one of the good things about not living in the UK is you can Buy & Sell shares without paying Capital Gains Tax (as long as you're a non-UK resident for tax for at least 5 Tax years or bought the shares after you became a non-UK tax resident)

If you're having problems with your broker, try Barclays Stockbrokers.

Shares need to be bought and held offshore to take advantage of that as far as I am aware.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

[JB300]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Why not??? - one of the good things about not living in the UK is you can Buy & Sell shares without paying Capital Gains Tax (as long as you're a non-UK resident for tax for at least 5 Tax years or bought the shares after you became a non-UK tax resident)

If you're having problems with your broker, try Barclays Stockbrokers.

Shares need to be bought and held offshore to take advantage of that as far as I am aware.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

Not to the best of my knowledge, I held shares when I left the UK & have traded semi-frequently ever since (as recently as last Thursday) with no problems and no Capital Gains to pay.

However if I was to return to the UK (or UK resident for Tax purposes) within 5 complete Tax Years I would need to declare the gains on any stocks that I owned before I became a non-UK tax resident.

I seem to recall it's covered by the P86 form you should complete when moving back to the UK (you should have completed a P85 when you left ).

Edit:Seems the p86 has been withdrawn now & it's covered by SA1.

Edited May 28, 2014 by JB300

[iancnx]

Don't be fooled into believing your life is insured. Telephone advice from some companies worthless. Read the small print. I paid premiums for years believing my life was covered. Guess what.... No refund of premiums. I suspect all life companies are the same, cover is dependent on UK residency

[iancnx]

Can no longer get my dear old mum's roast beef and Yorkshire pudd.

[evadgib]

It is possible to participate in the Euro draw if you set up an a/c using your UK bank with any of the participating companies in mainland Europe. The only exclusion relates to participants from USA or US territories.

HTH

Edited May 28, 2014 by evadgib

[casualbiker]

Can no longer get my dear old mum's roast beef and Yorkshire pudd.

Fedex!!!!

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[AhFarangJa]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Agreed, but you can transfer them to another person.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

Would they not in turn be liable to capital gains as it would be a gift?

I know we are moving a little off topic but I am intrigued by the replies. I have been non resident for tax for 22 years. I bought all my shares through my company schemes (a large British Defence Company ) these shares are managed by a group called Capita, ( sorry if I just broke a rule there) these are the people who keep on informing me I need a U.K. bank account even though I did not have one when I purchased the shares!! If anyone knows anything I do not please pm me. Many thanks.

[JB300]

You're definitely not liable for CGT then, very (VERY) worse case for a UK citizen buying shares in the company they work for is they owe a small amount after 10 years but as a non-UK resident even this doesn't apply to you.

However the company you're dealing with might need a UK Bank account to do business with them, check out some of the other Brokers & see if they all require a UK account (http://www.moneysupermarket.com/shares/ is a comparison) or ask your Broker if you can use something like an international HSBC account.

Edited May 28, 2014 by JB300

[HeavyDrinker]

Get the wife into a lather if she's had a few drinks before we go home and she gives me a real seeing to.

[JB300]

Edit: one of the companies listed on the above URL explicitly says non-UK residents can trade http://www.guardianshares.com/apply_for_an_account.php

Interesting article here... http://the-international-investor.com/2011/uk-stock-broker-accounts-nonresidents

Edited May 28, 2014 by JB300

[partington]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Agreed, but you can transfer them to another person.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

Would they not in turn be liable to capital gains as it would be a gift?

I know we are moving a little off topic but I am intrigued by the replies. I have been non resident for tax for 22 years. I bought all my shares through my company schemes (a large British Defence Company ) these shares are managed by a group called Capita, ( sorry if I just broke a rule there) these are the people who keep on informing me I need a U.K. bank account even though I did not have one when I purchased the shares!! If anyone knows anything I do not please pm me. Many thanks.

It is absolutely not true that you cannot legally sell shares that you acquired before you left the UK, and it is absolutely not true that you cannot legally buy and sell shares while you are non resident, using a UK broker. The UK HMRC site in fact has many informative pages dealing with tax resulting from sales of shares and bonds while non-resident, and would not give this information if it was not in fact legal to do so!

e.g. http://www.hmrc.gov.uk/international/tax-incomegains.htm

There may be a problem in finding a broker that will continue to provide an account if you inform them you are no longer resident in the UK, but ones that do allow expat accounts certainly exist, as I have an account with one: Charles Stanley.

Moreover if you are absent for five continuous tax years you are not liable for capital gains tax, nor are you liable for any tax on dividends or bond interest payments other than that (if any) already withheld before payment (providing you do not claim your personal allowance in your annual tax return).

The tax benefits for share and bond investors are huge for UK expats, so you should be aware of and take advantage of them, if possible - and not believe completely incorrect information like the quoted post above.

Edited May 28, 2014 by partington

[AhFarangJa]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Agreed, but you can transfer them to another person.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

Would they not in turn be liable to capital gains as it would be a gift?

I know we are moving a little off topic but I am intrigued by the replies. I have been non resident for tax for 22 years. I bought all my shares through my company schemes (a large British Defence Company ) these shares are managed by a group called Capita, ( sorry if I just broke a rule there) these are the people who keep on informing me I need a U.K. bank account even though I did not have one when I purchased the shares!! If anyone knows anything I do not please pm me. Many thanks.

It is absolutely not true that you cannot legally sell shares that you acquired before you left the UK, and it is absolutely not true that you cannot legally buy and sell shares while you are non resident, using a UK broker. The UK HMRC site in fact has many informative pages dealing with tax resulting from sales of shares and bonds while non-resident, and would not give this information if it was not in fact legal to do so!

e.g. http://www.hmrc.gov.uk/international/tax-incomegains.htm

There may be a problem in finding a broker that will continue to provide an account if you inform them you are no longer resident in the UK, but ones that do allow expat accounts certainly exist, as I have an account with one: Charles Stanley.

Moreover if you are absent for five continuous tax years you are not liable for capital gains tax, nor are you liable for any tax on dividends or bond interest payments other than that (if any) already withheld before payment (providing you do not claim your personal allowance in your annual tax return).

The tax benefits for share and bond investors are huge for UK expats, so you should be aware of and take advantage of them, if possible - and not believe completely incorrect information like the quoted post above.

Thank you for the link, and I will explore this with vigour, However I wish to say I am a little aggrieved that you say my post is completely incorrect, When I have letters and e-mails from Cap*** my brokers in U.K. categorically stating that I cannot sell them. I have no reason to lie, and actually posted my comment in the hope of finding some avenues, which, thanks to yourself and other very friendly TV members, I have done, Thank you Sir.

[partington]

Thank you for the link, and I will explore this with vigour, However I wish to say I am a little aggrieved that you say my post is completely incorrect, When I have letters and e-mails from Cap*** my brokers in U.K. categorically stating that I cannot sell them. I have no reason to lie, and actually posted my comment in the hope of finding some avenues, which, thanks to yourself and other very friendly TV members, I have done, Thank you Sir.

Can you give the name of your broker?? I'm not an expert but I can't think of one beginning with the letters you quote.

Surely they must give you a reason why they won't sell your shares for you? As I've said it CANNOT be because it's not legal to do so.

EDIT: just saw it's a group called Capita, never mind, and they want a UK bank account. This might mean the problem is payment to a foreign, bank. If so this is very different from not being allowed to sell. I suspect Capita is a share registration service and not a real brokerage at all. I suggest opening a brokerage account and transferring the shares to it, then you will be able to trade them

Edited May 28, 2014 by partington

[JB300]

Sell shares that you legitimately purchased unless you still hold a U.K. address.

Agreed, but you can transfer them to another person.

Sent from my GT-I9500 using Thaivisa Connect Thailand mobile app

Would they not in turn be liable to capital gains as it would be a gift?

I know we are moving a little off topic but I am intrigued by the replies. I have been non resident for tax for 22 years. I bought all my shares through my company schemes (a large British Defence Company ) these shares are managed by a group called Capita, ( sorry if I just broke a rule there) these are the people who keep on informing me I need a U.K. bank account even though I did not have one when I purchased the shares!! If anyone knows anything I do not please pm me. Many thanks.

It is absolutely not true that you cannot legally sell shares that you acquired before you left the UK, and it is absolutely not true that you cannot legally buy and sell shares while you are non resident, using a UK broker. The UK HMRC site in fact has many informative pages dealing with tax resulting from sales of shares and bonds while non-resident, and would not give this information if it was not in fact legal to do so!

e.g. http://www.hmrc.gov.uk/international/tax-incomegains.htm

There may be a problem in finding a broker that will continue to provide an account if you inform them you are no longer resident in the UK, but ones that do allow expat accounts certainly exist, as I have an account with one: Charles Stanley.

Moreover if you are absent for five continuous tax years you are not liable for capital gains tax, nor are you liable for any tax on dividends or bond interest payments other than that (if any) already withheld before payment (providing you do not claim your personal allowance in your annual tax return).

The tax benefits for share and bond investors are huge for UK expats, so you should be aware of and take advantage of them, if possible - and not believe completely incorrect information like the quoted post above.

Excellent summary except for the part about tax withheld on dividends, you cannot offset your personal allowance against this even if you have no other income in the UK (i.e. you cannot get the Tax back no matter what) but you can still use the full personal allowance against other income streams (which are considered as coming 1st when calculating Tax) if you do.

I very recently learnt (from another thread on this site) that the tax withheld is the only tax you pay on dividends, even if you're paid enough dividends to take you into the higher rate tax bracket.

AhFarangJa, I don't believe partington meant any criticism to you or your post, if you look at the links I posted you can see lots of Brokers will refuse to let you trade if you don't have a UK bank account but as he & I are trying to highlight, it's perfectly legal to do & there are brokers out there who will happily take you on as a customer if yours isn't.

partington, is that where you're from in the UK as it's not far from where I'm from (Martinscroft, Warrington).

Cheers

JB

[partington]

It is absolutely not true that you cannot legally sell shares that you acquired before you left the UK, and it is absolutely not true that you cannot legally buy and sell shares while you are non resident, using a UK broker. The UK HMRC site in fact has many informative pages dealing with tax resulting from sales of shares and bonds while non-resident, and would not give this information if it was not in fact legal to do so!

e.g. http://www.hmrc.gov.uk/international/tax-incomegains.htm

There may be a problem in finding a broker that will continue to provide an account if you inform them you are no longer resident in the UK, but ones that do allow expat accounts certainly exist, as I have an account with one: Charles Stanley.

Moreover if you are absent for five continuous tax years you are not liable for capital gains tax, nor are you liable for any tax on dividends or bond interest payments other than that (if any) already withheld before payment (providing you do not claim your personal allowance in your annual tax return).

The tax benefits for share and bond investors are huge for UK expats, so you should be aware of and take advantage of them, if possible - and not believe completely incorrect information like the quoted post above.

Excellent summary except for the part about tax withheld on dividends, you cannot offset your personal allowance against this even if you have no other income in the UK (i.e. you cannot get the Tax back no matter what) but you can still use the full personal allowance against other income streams (which are considered as coming 1st when calculating Tax) if you do.

I very recently learnt (from another thread on this site) that the tax withheld is the only tax you pay on dividends, even if you're paid enough dividends to take you into the higher rate tax bracket.

AhFarangJa, I don't believe partington meant any criticism to you or your post, if you look at the links I posted you can see lots of Brokers will refuse to let you trade if you don't have a UK bank account but as he & I are trying to highlight, it's perfectly legal to do & there are brokers out there who will happily take you on as a customer if yours isn't.

partington, is that where you're from in the UK as it's not far from where I'm from (Martinscroft, Warrington).

Cheers

JB

Hi JB - nope it's from a Sherlock Holmes story (Bruce-Partington plans!).

I think you misunderstood my post a bit. I wasn't saying that you could offset your personal allowance against dividends and interest, I was saying dividends and interest are only tax free if you fill in a tax return, but do not claim your personal allowance.

See page 8 of this link

http://content.alliotts.com/cms/filelibrary/Residence_and_domicile_and_the_taxation_of_overseas_income.pdf

So you have to work out whether your interest and dividends being tax free are worth more than being able to take a personal allowance off. For example, if you have other income in the UK, say from rent, then you must include that in your tax return, and not offset it with personal allowance in order to be allowed to benefit from tax free (other than tax already taken- as you say, you never get the nominal 10% withheld back) interest and dividends.

Edited May 28, 2014 by partington