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Posts posted by hotandsticky
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On 10/13/2023 at 6:31 PM, Iamloki said:
Really Sticky... I have no idea - except that the onus of proof will be on the tax resident.
A couple of observations from today - and something that should stop the average retired expat from wetting themselves further.
I am not a huge fan but I saw a You Tube video today from Ride4Kickz...he visited a tax consultant who said that most expats have nothing to be concerned about. Not sure if I can post the link on here but just Google him on You Tube.
One think that he did say was that differentiation on 'last years income being savings' has been removed and all income in the current tax year counts......OK for those of us with DTA's...
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6 minutes ago, Pattaya57 said:
I'd rather go to booking.com where it defaults to total price without worrying about changing Agoda settings
Then you will often pay more.
Agoda has been consistently cheaper all year.
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On 10/13/2023 at 6:31 PM, bignok said:
Strange. Never happened to me. 750 a day is massive.
Because it is an Airbnb type booking - the cleaning fee would be the same for, say, a one month stay. Short stays are not viable.
Seven Seas in Jomtien is a good example - quotes the room price including the cleaning charge. I have Agoda set to include ALL costs in the nightly rate quoted. Nothing hidden.
Total Price
฿ 4,460.46
Room price (1 room x 3 nights)฿ 3,860.46
Booking feesFREE
Included in total price: Cleaning Service Fee ฿ 600.00, Service charge 10%, Tax 7%
Pay to Agoda later
฿ 4,460.46
You will be charged on 11 November 2023
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6 minutes ago, Kinnock said:
We turned up for the VFS appointment armed with 3 months of bank statements for her and 1 month for me. Copies of her property blue book and car ownership book, plus a letter from me as her sponsor and a copy of my passport. We also included photos of us together at various events.
I'd paid for the lounge and scanning service and for the express processing. I was not allowed into the lounge so waited outside while she went in alone to send selfies to me of her sipping coffee and eating biscuits ????
The young admin guy didn't want the photos or the car docs. He scanned the rest, took her photo, and she was out in 10 minutes.
5 days later her passport with 180 day multi entry visa arrived by courier.
With hindsight I didn't need the 'VIP' service as uploading the docs on line looked simple. The online application asked for details of parents, income, costs etc and the scanned docs supported the financial details we provided. We also had to provide details of where we'd be staying in UK.
In the application and in my letter I stated I would cover her costs in UK. I've booked the flights, but at the time I didn't have flight or hotel bookings.
Just for the benefit others; UKVI expressly say - do not book flights until the outcome ofthe visa application is known. This is the opposite of Schengen visa applications where you have to submit bookings for everything.
Most applications only require a maximum of 6 documents if you are acting as sponsor:
1. Sponsor letter outlining the circumstances of the application and informing the ECO that the application meets the 3 key criteria of reason to visit/genuine relationship; financial adequacy; reasons for the applicant to return to Thailand.
2. Copy of sponsor's passport ID page to confirm UK status.
3. Financial evidence from the sponsor supporting the comment in the sponsor letter that all costs of the trip are covered. I submit Premium Bond statement but it could a bank statement/P60 if showing income
4. Reasons to return letter - setting out the reasons ie land ownership, strong family ties, work.
5. Paperwork supporting the above - I send a translated copy of my partners chanote.
6. For a first application some evidence of the relationship to support the comments made in the sponsor letter.
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I think that the typos are contrived.
Like much of Bob's life.........
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2 minutes ago, Celsius said:I am not from UK, I have nothing to do with UK and I am definitely not going back to UK
LOL
Wherever you are going, I hope you are better suited to there than here.
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1 hour ago, JayClay said:
Is it really money that you're worried about or is there something more to this?
I honestly can't understand somebody being so absolutely mean that they don't want anybody to have what's left when they die.
Is there really not a single suitable person, or charitable organization, in the entire world that you'd want to help out when you're gone?
People on this forum never cease to amaze...
I am calling bu11sh!t on this - he is far too evasive so is probably just trolling for effect.
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1 hour ago, Iamloki said:I could be mistaken, but my understanding is that only income for the subject tax year - that is brought into Thailand - will be taxed. The catch22 is ensuring proof that the money brought in was earned in a previous tax year. So, if I understand correctly, income from 2023 brought into Thailand is not taxable... but income brought in in 2024 and earned in 2024 will be taxed. Again, if correct the key is traceability and proof.
“The Key”……is the ability of the Thai authorities to implement and manage a scheme that monitors the income tax situation for 3-4 million foreigners living in Thailand.Now, tell me, seriously - how do you REALLY think that they will get on with that.
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3 minutes ago, Gottfrid said:
You might be blind. I can provide a good optician.
Eyesight of a pilot…..
I suggest you concentrate on treating your delusion.
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3 minutes ago, Gottfrid said:
I will go for the latter
I see little evidence of integrity in Thailand.
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2 hours ago, Keith5588 said:Thank you @hotandsticky for your replies, you are very knowledgeable.
I am not overly concerned at the moment as I do have a UK bank current account but reading this and another thread caused me to think of my options if my bank current account was ever closed.
I am planning to visit the UK next year but not to sell my house. I want to do a bit of work at my house and to show my gf/partner some places in the UK.
I do use WISE to transfer money and will open an account with them in the future.
Thanks again.
You are very welcome; enjoy your U.K. trip and the experience of showing your GF some places in your country. I thoroughly enjoyed showing mine around and repaying some of the kindness in showing me many parts of Thailand.It took me 65 years to see Land’s End and John O’Groats - she saw them both in one year!
I was fortunate that she wanted to broaden her mind with the experiences in another country (not a common trait amongst Thais) and she was as happy frolicking with sheep on Lakeland fells, as she was eating a roast lamb Sunday dinner in a Coniston pub..
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2 hours ago, VBF said:
That was why I said and repeat (also to @hotandsticky) "You would need to check that point carefully." Everyone's circumstances are different and I'm NOT a tax professional.
To be fair, you don't need to be a tax professional to establish whether you are UK tax resident, or not.
The ability to read and, more importantly, comprehend the HMRC guidelines is sufficient.
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23 minutes ago, FlorC said:
If you want no one to get it , it is impossible.
And to get back to the topic : maybe the only downside of being a loner (with no kids) , is the things you leave behind after you die.
Yes it has been said already , this subject is becoming morbid.
Nothing morbid about estate planning.
As I said before, none of us get out of this adventure alive; so enjoy the time you have left and make sure that you take steps to ensure that the people whom you care about, are taken care of.
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2 hours ago, FlorC said:
This is one to my biggest fears , that everything I own falls in the wrong hands.
Surely that is under your control?
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3 hours ago, brianthainess said:
It is below the tax threshold so no tax is deducted.
Correct.. But it is SUBJECT to tax.
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9 minutes ago, brianthainess said:
The way I understand it, I paid tax on my earnings, and my national insurance was taken out of my Net earnings, so tax already paid.
UK state pension is classed as taxable income.
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1 hour ago, Tom H said:
Change the bank and go to i.e. Wise. Done.
Better to keep the bank - and also go to WISE.
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On 10/9/2023 at 8:55 AM, Keith5588 said:
Hi,
I am from the UK but now retired and living in Thailand.
I still have a UK bank current account. My main assets are still in the UK, savings, house that I rent out, pensions, and I pay UK tax.I think most of us need to still have a bank/building society in our home country mainly to have money paid into and to make transfers from. We may or may not need a debit and credit card.
I have used building society Fixed interest accounts, sometimes they insist on opening an instant access account but I have never actually wanted to use the instant access account.
I still have some fixed interest savings accounts and I think a couple of instant access accounts.
So my question is assuming a debit and credit card is not needed would a building society instant access be adequate for a UK expat living in Thailand?
Or is there a reason why they would need a bank current account?
I am wondering when withdrawing money from a building society instant access account can you pay any external account or do you have to transfer the money out to your nominated bank current account?
Thanks in advance
KeithShort answer "no". The instant access savings has limited use.
I am not sure what your concern is. I may have failed to join up the dots here but I thought that you were going back to the UK for 6 months (to sell the rental house?).
Having a UK address is the most important thing and will probably keep you under the 'expat exclusion' radar. Nationwide, IMO, are less likely to proactive action like Barclays are doing. If you have family in the UK, use their address as your correspondence address - if you are visiting the UK for a lengthy period that is the ideal time to get the address changed.
I like WISE as a back up. They are ideal for transferring money to and holding funds for a short time.
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On 10/10/2023 at 3:15 PM, VBF said:In my opinion only (!) if it was, for example, a Nationwide Flex a/c https://www.nationwide.co.uk/current-accounts/flexaccount/ then yes, because it will allow you to set up Direct Debits and / or transfer money to other accounts, including abroad. (Various links emanating from the one I posted refer)
However...... it does say you need to be a UK resident - I don't know if HMRC regards you as such, given what you say about your main assets and paying tax.
You would need to check that point carefully.
There is a difference between being UK resident for tax purposes and what the banks may view as being resident. Recently, Nationwide introduced an excellent Saver account paying 8%...part of the requirements for opining that account was that you had to be a "UK resident for tax purposes". Barclays (when closing accounts) focused on domicile and stated “Our Barclays UK products are designed for customers within the UK. We will no longer be offering personal current or savings accounts to retail customers with addresses registered with us outside of the United Kingdom".
WHAT IS A NON-RESIDENT?
As regards UK tax, a “non-resident” is someone who does not live permanently in the UK but who earns taxable UK income. This includes many UK expats, of course, with many earning income from UK rental property and other UK sources. Non-residents only pay UK tax on their UK income, not on income from another country (although tax may be payable in that tax jurisdiction).
HMRC RESIDENCY/NON-RESIDENCY TESTS
The total days you spend in the UK within a tax year (ie 6 April to 5 April) determines your tax status as either a UK resident or non-resident for tax purposes.
You’ll automatically be considered non-resident if:
you spend less than 16 days in the UK in a tax year (or 46 days if you have not been classed UK resident for the three previous tax years) or
you work abroad full-time (ie at least 35 hours in an average week) and were in the UK for less than 91 days and no more than 30 of these were spent working in the UK.
You’ll automatically be considered UK resident if:
you spent 183 or more days in the UK in the tax year or
your only home was in the UK and it was available to you for at least 91 days in the tax year and you lived there for at least 30 days or
you worked full-time in the UK for 365 days and at least one of these days fell within the specific tax year.
You may also be considered resident under HMRC’s “ties test” if you spent time in the UK and have additional links such as work or family here.
Top tip! To find out whether you were a UK resident or not in any tax year from 6 April 2016, you can use HMRC’s online residence status checker. Government website GOV.uk provides details about the government’s Statutory Residence Test, which further explains many of the above points.
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9 hours ago, bignok said:You really are a sad git.
6 months, 9,000 posts.
Now, THAT is a sad git!
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Just pies.....
No filling. no brand, fruit pies, savoury pies, pork pies..........or one of each?
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Edge of Darkness
Peaky Blinders
The English Game
In the Comedy stakes:-
Only Fools and Horses
The Two Ronnies
Fawlty Towers
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8 hours ago, Goat said:In my opinion watching fictional TV series is a complete and utter waste of time.
I am surprised they are as popular with the masses as they are. I assume it is escapism from their boring mundaine lives?
They do bring in huge money.
Just actors acting fake dramas. Nonsense really. Give me a documentary and real knowledge.
What must be a bigger waste of time is reading, and posting on, an internet forum thread that you have no interest in.
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Tax on funds brought into Thailand from O/S....any clarity yet?
in Jobs, Economy, Banking, Business, Investments
Posted
"Taxable income"..... but, as you say, DTAs take care of that.
Rather like the UK state pension being taxable income - no one pays tax on their pension because the annual tax allowance covers it.
Too many people (who are unaffected) are considering actions that are totally unnecessary.