hugh2121 Posted August 17, 2014 Share Posted August 17, 2014 (edited) The UK government is in debt up to its eyeballs and they are planning to make us pay for it. They already rob retired expats of annual pension increases and winter fuel allowance and are now planning to steal even more. The Telegraph have already reported the plan to tax property rentals. I already pay tax on mine. They are now planning to withdraw the tax free allowance completely from all ex pats...an extra £2000 per annum tax as if we are not bleeding enough. The current coalition have already borrowed as much as Blair and Brown did in 11 years. The £900 billion it borrowed to bail out the banks is NOT included in the official national debt figure because government choose not to include it. Total debt is around 85% of GDP. It has not been so high since WW2. We are still spending millions or even billions on foreign aid. Borrowing money to give away. They are also looking at ways to prevent money from leaving UK including spot checks at departure points. Many of us only have income generated in UK so this will force us to return. This will also prevent ownership of foreign shares. They will keep interest rates artificially low because it makes the cost of its borrowing cheaper and slaps prudent savers in the face. Surely enough is enough. I have raised my objections with my MP Liam Fox and continue to berate him and the government. Will you do the same? Information from Moneyweek magaine Edited August 17, 2014 by hugh2121 1 Link to comment Share on other sites More sharing options...
i claudius Posted August 17, 2014 Share Posted August 17, 2014 Flogging a dead horse comes to mind Link to comment Share on other sites More sharing options...
PiPiFFS Posted August 17, 2014 Share Posted August 17, 2014 The current coalition have already borrowed as much as Blair and Brown did in 11 years. The £900 billion it borrowed to bail out the banks is NOT included in the official national debt figure because government choose not to include it. Makes the coalition look like big spenders when actually it is the huge amount of interest accrued on the money borrowed by the last Labour government that has forced this one to borrow even more money. What I will never understand is why the public just allows Governments to tax them at will. They are supposed to be elected to do the wishes of the people not to dictate to them. Why when Governments need even more money do they immediately seek new ways to tax people rather than ways to reduce their spending ? Link to comment Share on other sites More sharing options...
Bernard Flint Posted August 17, 2014 Share Posted August 17, 2014 Winter fuel Allowance ????? If you are a retired expat, living in Thailand, why should you get this.If an oap is renting your property, then he/she should be able to claim, not you. I was paying tax on my rental 11 years ago, and 10% to the real estate agent for looking after it. 2 Link to comment Share on other sites More sharing options...
hugh2121 Posted August 17, 2014 Author Share Posted August 17, 2014 Winter fuel Allowance ????? If you are a retired expat, living in Thailand, why should you get this.If an oap is renting your property, then he/she should be able to claim, not you. I was paying tax on my rental 11 years ago, and 10% to the real estate agent for looking after it. It has nothing to do with the property you inhabit whether you own it or not. Expats should get this allowance because SOME of us worked all our lives in UK, paid tax and NIC all our lives. Therefore, we've paid for it so we should get it. Winter fuel is not claimed it is paid automatically when you reach age 60. If an oap were renting my house they would be paid it regardless of whether I was receiving it too. I repeat: those of us who've paid our dues all our lives are entitled except for successive robbing governments. The same is true of annual pension increments. I too pay 20% tax on my rental and 10% to the agents. I also pay tax to HMRC on all my income except the tax free allowance which everyone gets. This government are planning to take away the tax free allowance from ALL expats. The excuse is that some wealthy folks living and working outside UK have found a tax loophole whereby they can buy property in UK and let it without paying any tax on the income by offsetting all the income against the tax free allowance. However, the plan is to remove the allowance from ALL expats. If you have pension income which uses up your allowance, prepare to lose the allowance and pay £2000 a year more to HMRC. I hope this makes the situation a little clearer for you Bernard. Link to comment Share on other sites More sharing options...
hugh2121 Posted August 17, 2014 Author Share Posted August 17, 2014 (edited) The current coalition have already borrowed as much as Blair and Brown did in 11 years. The £900 billion it borrowed to bail out the banks is NOT included in the official national debt figure because government choose not to include it. Makes the coalition look like big spenders when actually it is the huge amount of interest accrued on the money borrowed by the last Labour government that has forced this one to borrow even more money. What I will never understand is why the public just allows Governments to tax them at will. They are supposed to be elected to do the wishes of the people not to dictate to them. Why when Governments need even more money do they immediately seek new ways to tax people rather than ways to reduce their spending ? Figures courtesy of Moneyweek magazine. The UK public allows government to tax them at will because they can't be arsed to make their opinions known. See I Claudius comment above. How many (other than me) will persist in taking up their MP's time by giving them grief over it? Just think what would happen in Italy, Greece, Spain. They'd bring the country to a standstill. It's true that the interest being paid does not help the situation but the fact is that we are still borrowing fresh money and a lot of the fresh money is being given away in overseas aid. Never to be repaid. I'm sorry to say this but we can't afford it. We haven't got it. Edited August 17, 2014 by hugh2121 Link to comment Share on other sites More sharing options...
icare999 Posted August 17, 2014 Share Posted August 17, 2014 no can't be bothered since it will make no difference at all Other one you missed which really pisses me off is IH tax rules so if i leave any money over 325k allowance to a wife who is UK citizen or lives in UK its free of IH tax but Thai wives if eel I've here get a pathetic small 60k allowance. If you are older and have kids and worst happens your widow and kids deserve to get what you worked all your life for. I solved problem long ago by taking enough away from UK and also putting it all in my This wife and kids names. only solution is to move all out of UK or if you dont have enough go back to UK the UK is totally bankrupt and before they do what is needed (totally cut welfare and spending) they will as an old labour chancellor said squeeze all until pips squeak. Don't worry ex pats are first easier targets then it will be all pensions then capital controls until people rise up and say enough is enough 1 Link to comment Share on other sites More sharing options...
howerde Posted August 17, 2014 Share Posted August 17, 2014 Well billions of pounds spend on wars, that have made us all safer has to be paid for. Link to comment Share on other sites More sharing options...
theoldgit Posted August 18, 2014 Share Posted August 18, 2014 This topic is already running here http://www.thaivisa.com/forum/topic/751091-uk-expats-to-pay-tax-on-their-rented-houses-back-home/ We don't need a new thread with every new magazine article. Topic closed, please continue in the long running thread.. Link to comment Share on other sites More sharing options...
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