UK financial bombshell may hit British Expats

[Rimmer]

UK FINANCIAL BOMBSHELL MAY HIT BRITISH EXPATS

Hundreds of thousands of British non-residents could lose their tax-free allowance on UK earnings under proposals being considered by the British government. The total includes all British nationals in Thailand who fill in a UK tax form, including the many pensioners who are living here on a fixed income

The tax-free allowance is currently 10,000 pounds a year, due to rise to 10,500 pounds next year. If the personal allowance is withdrawn for non-residents without exception, then all individuals would be 2,000 pounds (100,000 baht) worse off annually, or 4,000 pounds for married couples. They would begin paying tax of 20 percent from the first pound of income, and 40 percent on income of 31,000 pounds or more. Presently, the government has not made a final decision on the proposals put forward by British Chancellor of the Exchequer George Osborne.

The consultation document claims that few countries in the world have as generous an allowance for expats as Britain and that the granting of this privilege should perhaps be restricted to those who spend at least six months a year in the UK. The plan could mean the UK getting more tax from 400,000 non-residents worldwide, including around 25,000 based in Thailand. The total sum which could be saved by the government is in the region of 400 million pounds.

The biggest group likely to be affected in Thailand is the large number of retired men and women who are in receipt of UK government pensions,

Full story:http://pattayatoday.net/news/latest-edition/uk-financial-bombshell-may-hit-british-expats/

PATTAYA TODAY:2014-09-20

[Expattaff1308]

This is still under consideration and now old news.

Aleady being discussed in UK Pensions.

[NeverSure]

"The total sum which could be saved confiscated by the government is in the region of 400 million pounds."

"Saved?" Where do governments ever get the idea that their citizens' money is first theirs?

[rgs2001uk]

"The total sum which could be saved confiscated by the government is in the region of 400 million pounds."

"Saved?" Where do governments ever get the idea that their citizens' money is first theirs?

Thats the root of the problem with these quasi commie countries, its not the citizens money, its the govt's money to do with as they see fit.

Hence such socialist paradises as Greece, Spain, Italy etc are now finding out to their cost and wonder why they are skint.

[evadgib]

Old news covered in the 'Pensions' thread:

Edited September 21, 2014 by evadgib

[billd766]

That good old magic word "IF" again.

"IF" my Granddad wore a dress he would have been my Granny. However he didn't, and he wasn't

[transam]

They seem to forget how much money they save by pensioner folk living abroad..........

[awayego]

They seem to forget how much money they save by pensioner folk living abroad..........

Exactly! And if this ever happens, this pensioner will be returning to the UK with his wife and five year old son to make FULL use of every benefit and handout that's available.

As I said before on another thread, I will become a net CONSUMER of tax funds instead of a net CONTRIBUTOR>

Talk about a soft target and small potatoes as far as tax raising funds are concerned. Ba..tards!

[huawei]

If you read the consultation document , it will happen.

However it does state that if your main income is from the uk then those allowances can be used ,although income from rentals will probably be excluded, as said previously , easy target.

Capital gains tax a definite.

[catweazle]

Death and taxes...

[godden]

hang em high all of the thieveing bastards

[personchester]

To cancel the entire "personal pension allowance" of 10,000 + to the British expats would be disastrous decision, and the frozen pension holders will then suffer more financial problems.

Due to those problematic circumstances It is quite possible that this shocking taxation proposal for British expats will not be allowed by MP's at Westminster parliament .

[jimbeam1]

Because of the pensions crap, I have been thinking of moving back but not to England, somewhere in Europe. Question. Does anyone know if you would still the tax allowance if you relocated to somewhere else in Europe?

Cheers

jb1

[wotaplonker]

the 400 million is a snip compared to the huge tax evasion of uk companies + massive fraud from welfare payments

the govt could save 400 mill overnight by stopping unnecessary immigration of unskilled non english speaking peoples who quite

simply see the Uk as a easy living haven

[borllih08]

They seem to forget how much money they save by pensioner folk living abroad..........

[sambum]

They seem to forget how much money they save by pensioner folk living abroad..........

Yes indeed! Savings of millions on the NHS by virtue of the fact that pensioners abroad have to pay for their own medicines and treatment, and not get free prescriptions from their local GP. (Medical Insurance is tremendously expensive abroad, and beyond the reach of most) Also, no claims for child/housing benefits, no old age Winter Fuel Allowance, etc etc etc. Also they should remember that the majority of pensioners living abroad have worked and paid for years (40+) into the system, unlike the legal/illegal immigrants that "seem to be" handed money hand over fist when they have contributed nothing to the UK economy. No wonder there are thousands of "immigrants" queuing up at Calais to get to England in order to claim their "rightful" benefits! The Government seem to think that if we are not in the UK spending our pension, then we shouldn't have one!

Rant only just started!!!

[borllih08]

As far as I am concern I have paid in my taxes all my working life and when Thay have worked youto nErle death and won't to put you're feet and get some sun Thay won't to get more tax of you. . UK is becoming a shot hol. .

[kannot]

No problem, all my money will now reside out of the UK, they can get well and truly *&(^%%$$$d

Tried booking an appointment with my doctor of 50 years 3 days ago................full for 4 weeks cal tomorrow! back to Thailand today where at least what I have to pay for instant service is still relatively small.

The only favour the Uk has done me is a free education and that was only from 12-16 yrs old ( private before that) and being born, dentistry isnt free the pension increases have gone I wont get a bus pass, they might not allow healthcare of any sort soon unless emergency, the doctor I cant even get to see and finally my tax allowance will probably go which means they will now take that off my STATE PENSION which Ive paid contributions into for 34 years a double whammy there then.............well done UK

Never claimed benefit of any kind.

I wonder then if I sell my UK house they will want 40% tax off that as well??

[kannot]

They seem to forget how much money they save by pensioner folk living abroad..........

Yes indeed! Savings of millions on the NHS by virtue of the fact that pensioners abroad have to pay for their own medicines and treatment, and not get free prescriptions from their local GP. (Medical Insurance is tremendously expensive abroad, and beyond the reach of most) Also, no claims for child/housing benefits, no old age Winter Fuel Allowance, etc etc etc. Also they should remember that the majority of pensioners living abroad have worked and paid for years (40+) into the system, unlike the legal/illegal immigrants that "seem to be" handed money hand over fist when they have contributed nothing to the UK economy. No wonder there are thousands of "immigrants" queuing up at Calais to get to England in order to claim their "rightful" benefits! The Government seem to think that if we are not in the UK spending our pension, then we shouldn't have one!

Rant only just started!!!

Dont forget the person who said every pound we get an spend in the Uk contributes to the Uk economy twaddle!!

Its twaddle as i can go live anywhere in europe or the Phillipines for goodness sake and spend all my money there whilst getting the increase and contributing nothing to the UK economy.

[sambum]

As far as I am concern I have paid in my taxes all my working life and when Thay have worked youto nErle death and won't to put you're feet and get some sun Thay won't to get more tax of you. . UK is becoming a shot hol. .

Suggest that before your working life you should have spent a bit more time in the classroom learning your native tongue! While I agree with your sentiments (I think!) your use of the English language is on a par with Bing translations!

[denby45]

Already discussed to death here:

http://www.thaivisa.com/forum/topic/540525-uk-pensions

I don't think it needs another go.

Den

[sambum]

Already discussed to death here:

http://www.thaivisa.com/forum/topic/540525-uk-pensions

I don't think it needs another go.

Den

Sorry - didn't realise that! However, things change and it may be worth pointing out that although the topic/thread started on 13 Mar 2012, it is still open, and new posts are appearing regularly.

[Suradit69]

400,000 non-residents worldwide, including around 25,000 based in Thailand.

Something tells me the Thai banks asking for details about nationality won't be solely aimed at Americans much longer.

The Thai government wants more tax revenue from income and inheritance. The British government wants more tax revenue. Lots of detailed information being sought.

Government view of typical tax payers.

Edited September 21, 2014 by Suradit69

[shirtless]

Im tired of all these creeps in office living the life while working out ways to rob people of a decent retirement,

[sambum]

Im tired of all these creeps in office living the life while working out ways to rob people of a decent retirement,

Maybe they need reminding that they will looking to a "decent retirement" sometime, and how they would feel about someone trying to rob them of it?

[Time Traveller]

that's a pity

[Andre0720]

Governments have a licence to steal...

[maprao]

"The consultation document claims that few countries in the world have as generous an allowance for expats as Britain"

The USA has the most draconian laws for taxation but even they allow 92,500 dollars to be earnt tax free overseas. Obviously any income made in the USA is taxed. load od bo***cks. But I can see it happening.

[Munsterman]

That good old magic word "IF" again.

"IF" my Granddad wore a dress he would have been my Granny. However he didn't, and he wasn't

But you don't know what your granddad did in the privacy of his own wardrobe now, do you?

[Geordie59]

Because of the pensions crap, I have been thinking of moving back but not to England, somewhere in Europe. Question. Does anyone know if you would still the tax allowance if you relocated to somewhere else in Europe?

Cheers

jb1

As the proposal stands all non residents would lose their tax allowance. So moving to Spain for example would be like living in Thailand, except a pension may then be index linked instead of frozen depending on where you did relocate to.