UK General Election

[jeab1980]

5 minutes ago, brewsterbudgen said:

If you left over 15 years ago you have no choice! I'm not sure God or the Junta have much interest in each other.

Personally speaking my view is if you leavebyour birth country to become an expat in another country. I would make it you should have no right to vote in your home country. You choose to leave so you choose to lose the right to vote in matters related to that country. You may remain a citizen of that country but thats all imho of course.

[lungbing]

I have no problem with not being able to vote in a UK election if the UK would stop taking income tax from me.  No tax without representation?

[jeab1980]

1 minute ago, lungbing said:

I have no problem with not being able to vote in a UK election if the UK would stop taking income tax from me.  No tax without representation?

Quite agree so what tax are they taking from you?

[dick dasterdly]

13 hours ago, jeab1980 said:

Quite agree so what tax are they taking from you?

Obviously can't speak for lungbin, but my pension income is taxed.

[jeab1980]

4 minutes ago, dick dasterdly said:

Obviously can't speak for lungbin, but my pension income is taxed.

You have the personal allowance of 11500 py.dont know what the old age pension is now i belive 160 a week so you wont pay tax on that unless you have other income as well. My private pension is well away from UK. So they cant touch that.

[vogie]

2 minutes ago, jeab1980 said:

You have the personal allowance of 11500 py.dont know what the old age pension is now i belive 160 a week so you wont pay tax on that unless you have other income as well. My private pension is well away from UK. So they cant touch that.

Many people have a personal pension as well as the government pension also have property being rented out, which will take you well above the personal allowance.

[dick dasterdly]

Just now, vogie said:

Many people have a personal pension as well as the government pension also have property being rented out, which will take you well above the personal allowance.

Exactly.  I'm nowhere near the age necessary to claim the government pension, but my company pensions are over the personal allowance - and so I still pay tax.

[jeab1980]

10 minutes ago, dick dasterdly said:

Exactly.  I'm nowhere near the age necessary to claim the government pension, but my company pensions are over the personal allowance - and so I still pay tax.

Why not move it abroad? Less tax more freedom 

[alanrchase]

Why not move it abroad? Less tax more freedom 

You will be taxed 25% on it now as far as I am aware.

[jeab1980]

1 minute ago, alanrchase said:

 

You will be taxed 25% on it now as far as I am aware.

 

No if you move ot abroad you will not be taxed by uk. Moved all mine to Gibralter best one for thailand. 2% tax and a lot better lump sum non taxable.

[alanrchase]

No if you move ot abroad you will not be taxed by uk. Moved all mine to Gibralter best one for thailand. 2% tax and a lot better lump sum non taxable.

Rules changed at the last budget.

[dick dasterdly]

12 minutes ago, jeab1980 said:

No if you move ot abroad you will not be taxed by uk. Moved all mine to Gibralter best one for thailand. 2% tax and a lot better lump sum non taxable.

I can't recall being given the option by my company/public sector pension providers?  IIRC, the only options was how much would be paid as a lump sum (which obviously affected the monthly pension paid).

 

Not that it matters as even if I was offered the entire pensions as lump sums to transfer elsewhere - I know nowhere near enough to start 'playing the financial game'.

 

At least I (pretty much) know where I stand with my pensions, and hope that with an aging population, UK governments will not allow pension funds to be plundered in the same way as happened previously.

[jeab1980]

21 minutes ago, dick dasterdly said:

I can't recall being given the option by my company/public sector pension providers?  IIRC, the only options was how much would be paid as a lump sum (which obviously affected the monthly pension paid).

 

Not that it matters as even if I was offered the entire pensions as lump sums to transfer elsewhere - I know nowhere near enough to start 'playing the financial game'.

 

At least I (pretty much) know where I stand with my pensions, and hope that with an aging population, UK governments will not allow pension funds to be plundered in the same way as happened previously.

You have to use a financial advisor they wont give or offer you it all you have to opt to transfer to another pension provider a financial advisor youd do all the donkey work you just sign bits of paper as needed. 

[dick dasterdly]

4 minutes ago, jeab1980 said:

You have to use a financial advisor they wont give or offer you it all you have to opt to transfer to another pension provider a financial advisor youd do all the donkey work you just sign bits of paper as needed. 

Everyone to their own, but trusting a financial advisor is even less sensible than trusting company/public sector pension schemes - IMO obviously!

[billd766]

1 hour ago, dick dasterdly said:

Obviously can't speak for lungbin, but my pension income is taxed.

 

I have 3 pensions which put me above the tax threshold, therefore the tax I pay is called income tax.

[dick dasterdly]

4 minutes ago, billd766 said:

 

I have 3 pensions which put me above the tax threshold, therefore the tax I pay is called income tax.

Same here.

 

I can claim another public sector pension in a year or so, when I am 60.

[billd766]

1 hour ago, alanrchase said:

 

You will be taxed 25% on it now as far as I am aware.

 

 

Not correct I am afraid.

 

From the UK.gov website this morning.

 

https://www.gov.uk/government/publications/income-tax-personal-allowance-and-basic-rate-limit-for-2017-to-2018/income-tax-personal-allowance-and-basic-rate-limit-for-2017-to-2018

 

Proposed revisions

Legislation will be introduced in Finance Bill 2016 to set the personal allowance for 2017 to 2018 at £11,500, and the basic rate limit for 2017 to 2018 at £33,500.

The table below sets out the thresholds from 2016 to 2017 to include the changes from this measure.

 2016 to 20172017 to 2018

Personal allowance (PA)11,00011,500

Basic Rate Limit (BRL)32,00033,500

Higher Rate Threshold (HRT)43,00045,000

The National Insurance contributions (NICs) Upper Earnings/Profit Limits is aligned to the higher rate threshold and will therefore also increase for 2017 to 2018.

 

http://www.moneysavingexpert.com/banking/tax-rates

 

What is my income tax rate 2017/18?

Earnings (if you live in England, Wales or Northern Ireland)2017/18 rate

Under your personal allowance (PA)
For most, £11,500No income tax payable

Between PA and PA+£33,500
For most, £11,500 to £45,000       20%

Between PA+£33,500 and £150,000
For most, £45,000 to £150,000     40%

Over £150,000                                  45%

[alanrchase]

 
Not correct I am afraid.
 
From the UK.gov website this morning.
 
https://www.gov.uk/government/publications/income-tax-personal-allowance-and-basic-rate-limit-for-2017-to-2018/income-tax-personal-allowance-and-basic-rate-limit-for-2017-to-2018
 
Proposed revisions
Legislation will be introduced in Finance Bill 2016 to set the personal allowance for 2017 to 2018 at £11,500, and the basic rate limit for 2017 to 2018 at £33,500.
The table below sets out the thresholds from 2016 to 2017 to include the changes from this measure.
 2016 to 20172017 to 2018
Personal allowance (PA)11,00011,500
Basic Rate Limit (BRL)32,00033,500
Higher Rate Threshold (HRT)43,00045,000
The National Insurance contributions (NICs) Upper Earnings/Profit Limits is aligned to the higher rate threshold and will therefore also increase for 2017 to 2018.
 
http://www.moneysavingexpert.com/banking/tax-rates
 
What is my income tax rate 2017/18?
Earnings (if you live in England, Wales or Northern Ireland)2017/18 rate
Under your personal allowance (PA)
For most, £11,500No income tax payable
Between PA and PA+£33,500
For most, £11,500 to £45,000       20%
Between PA+£33,500 and £150,000
For most, £45,000 to £150,000     40%
Over £150,000                                  45%

I was talking about the tax on your pension lump sum if you move it abroad not income tax. All off topic anyway.

[billd766]

1 hour ago, alanrchase said:

 

I was talking about the tax on your pension lump sum if you move it abroad not income tax. All off topic anyway.

 

 

But you made no distinction about which tax you pay at what rate.

[billd766]

18 hours ago, jeab1980 said:

Personally speaking my view is if you leavebyour birth country to become an expat in another country. I would make it you should have no right to vote in your home country. You choose to leave so you choose to lose the right to vote in matters related to that country. You may remain a citizen of that country but thats all imho of course.

 

I would be quite for that to happen with the proviso that I pay NO income tax in the country that I left.

 

Do you remember this from 1761?

 

http://www.dictionary.com/browse/taxation-without-representation

 

American History.

1.

a phrase, generally attributed to James Otis about 1761, that reflected the resentment of American colonists at being taxed by a British Parliament to which they elected no representatives and became an anti-British slogan before the American Revolution; in full, “Taxation without representation is tyranny.”.

 

 

[jeab1980]

1 hour ago, alanrchase said:

 

I was talking about the tax on your pension lump sum if you move it abroad not income tax. All off topic anyway.

 

Trust me there is no tax on the lump sum when you move it abroad and onstead of 25% you can get 30%.

[alanrchase]

Trust me there is no tax on the lump sum when you move it abroad and onstead of 25% you can get 30%.

I started the process of moving my company pension offshore earlier this year. All was fine till the budget when the government put a 25% tax on the transfer ammount effective at midnight. Fortunately because my application was made before the change in the rules I was able to proceed without paying the 25% tax. Several topics about this on the home country forum.

[alanrchase]

Trust me there is no tax on the lump sum when you move it abroad and onstead of 25% you can get 30%.

Here is a link.

http://www.thisismoney.co.uk/money/pensions/article-4294014/Chancellor-slaps-25-charge-overseas-pension-transfers.html

[jeab1980]

44 minutes ago, alanrchase said:

 

Here is a link.

http://www.thisismoney.co.uk/money/pensions/article-4294014/Chancellor-slaps-25-charge-overseas-pension-transfers.html

 

All i can tell you it didn't happen, transfered my pensions to Gibralter 2 company pensions and a local goverment pension scheme one. In January this year. Transferred over the amount calculated by the 3 diffrent pension schemes individualy and paid not one penny in tax to the UK goverment. Got a lump sum + yearly pension paid in Febuary. 30% lump sum (calculated on time in ThIland so allowed 30% think its over 5 years under that only 25%. No tax paid to Gibralter on lump sum. 2% tax paid on yearly pension to Gibralter Goverment.

Maybe its not introduced yet or mine was already going through took about 9 months start to finish.

Edited May 14, 2017 by jeab1980

[alanrchase]

All i can tell you it didn't happen, transfered my pensions to Gibralter 2 company pensions and a local goverment pension scheme one. In January this year. Transferred over the amount calculated by the 3 diffrent pension schemes individualy and paid not one penny in tax to the UK goverment. Got a lump sum + yearly pension paid in Febuary. 30% lump sum (calculated on time in ThIland so allowed 30% think its over 5 years under that only 25%. No tax paid to Gibralter on lump sum. 2% tax paid on yearly pension to Gibralter Goverment.
Maybe its not introduced yet or mine was already going through took about 9 months start to finish.

So you didn't read the link. Rules changed on 08 March this year. Of course you didnt pay 25% tax in January as the rules had not been changed. Your advice is out of date.

[jeab1980]

5 minutes ago, alanrchase said:

 

So you didn't read the link. Rules changed on 08 March this year. Of course you didnt pay 25% tax in January as the rules had not been changed. Your advice is out of date.

 

Well there you go then. As i do not keep abreast of what the UK goverment does. Which is why i dont vote. As for tbe link no i didnt read it i dont open links on chat forums as you never know what might lurk in them. I was fortunate enough then to take MY hard earned pensions away from the clutches of  tbe greedy UK Goverment.

Edited May 14, 2017 by jeab1980

[elliss]

On 5/9/2017 at 0:45 PM, jeab1980 said:

There is no other point of view he the labour leader was in bed with the IRA a known outlawed terrorist group.

 

                  Hyde Park bomber ,  now  a free man .  Justice ? 

                     Brits , proud to be british ,    hang your  heads in shame . 

Edited May 14, 2017 by elliss

[ianh68]

On 12/05/2017 at 9:55 PM, elliss said:

Many years ago , i decided to leave UK ,   so  i do not vote on the destiny of a country,

    which i chose to leave .  Ex Brit now living as a alien in Thailand , not of this world .

 

 Dream  on , live in hope ,   God bless the Junta . 

"You may not be interested in war, but war is interested in you" Leon Trotsky

[ianh68]

On 13/05/2017 at 7:46 PM, jeab1980 said:

Personally speaking my view is if you leavebyour birth country to become an expat in another country. I would make it you should have no right to vote in your home country. You choose to leave so you choose to lose the right to vote in matters related to that country. You may remain a citizen of that country but thats all imho of course.

Everyone has different reasons for leaving the UK and the degeree of choice varies from one person to another. The argument that leaving the UK is a free choice for all which results in some balmy alter life is precisely the argument the government lakes for refusing to unfreeze expats' pensions.

[ianh68]

On 14/05/2017 at 10:37 AM, dick dasterdly said:

Obviously can't speak for lungbin, but my pension income is taxed.

Precisely. If you are an expat playing by the rules all UK based income is taxed.