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Even at 38 baht to the pound most retirees won’t and cannot leave Thailand

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40 minutes ago, theoldgit said:

Which is exactly how it works, I got my tax code recently it shows the new Personal Allowance of £12,500 and then it deducts my State Pension and the balance is the new code, everything above that figure is taxed at the approriate rate. 

Why would you pay tax in the UK if you don't live there? I get a good German pension paid into a German bank but since I have nothing in Germany except my bank account I pay no tax, I get a British pension as well but have never filled out a tax form, the British pension is only small but together with the German income my income would be taxable, since everything is so interconnected these days HMRC is certainly aware of my German pension and bank account in Germany but it could be that my German pension comes under German tax law and not British

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1 hour ago, lelapin said:

 

Lucky you. Mine has been frozen  for 13 years at 104 pounds a week after paying tax / NI for 41 years.

Yeah never expected more than basic UK in 2012 I was in and of serps etc and other stuff in the Maggie years and I got 2 additional lump sums added on.

I did 42 years in UK NI & tax also super tax.

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1 hour ago, Kwasaki said:

Yeah never expected more than basic UK in 2012 I was in and of serps etc and other stuff in the Maggie years and I got 2 additional lump sums added on.

I did 42 years in UK NI & tax also super tax.

I think I'll stop following this thread. With a pension of 61 quid a week frozen for twenty years, pensions quoted at 168 quid are enough to make me join the FFFFC -Falang Free Fall Flying Club. But then I'm happy.😜 

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5 minutes ago, Gandtee said:

I think I'll stop following this thread. With a pension of 61 quid a week frozen for twenty years, pensions quoted at 168 quid are enough to make me join the FFFFC -Falang Free Fall Flying Club. But then I'm happy.😜 

how do you live on that?

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1 minute ago, madmen said:

how do you live on that?

Frugally. Plus a bit more private pension but still a lot less than the Pension I'm reading about.

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3 hours ago, lelapin said:

 

Lucky you. Mine has been frozen  for 13 years at 104 pounds a week after paying tax / NI for 41 years.

I hate you rich buggers. 🤣

 

Mine is stuck on £95 after paying NI for 44 years, but I started paying tax at my first job in 1959 and I am still paying until I die.

 

Barstewards.

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3 hours ago, soalbundy said:

Why would you pay tax in the UK if you don't live there? I get a good German pension paid into a German bank but since I have nothing in Germany except my bank account I pay no tax, I get a British pension as well but have never filled out a tax form, the British pension is only small but together with the German income my income would be taxable, since everything is so interconnected these days HMRC is certainly aware of my German pension and bank account in Germany but it could be that my German pension comes under German tax law and not British

The reason why we pay tax in the UK despite not living there is that HMRC deem that ANY money earned through a UK based company is taxable wherever you worked. However any money earned through non UK companies is nothing to do with them.

 

Your German pension and bank account in Germany is exempt from the UK taxman but it could be that my German pension comes under German tax law and not British

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4 hours ago, lelapin said:

 

Lucky you. Mine has been frozen  for 13 years at 104 pounds a week after paying tax / NI for 41 years.

Yes likewise, but 51 years on paye, what would happen if we went back together and sat in the road outside Westminster other than get run over? 

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5 hours ago, Gandtee said:

I think I'll stop following this thread. With a pension of 61 quid a week frozen for twenty years, pensions quoted at 168 quid are enough to make me join the FFFFC -Falang Free Fall Flying Club. But then I'm happy.😜 

'Kinell Thought Mine was Bad Enough at 72 Quid a Week......But I've got NO Intention of joining that club either.....

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On 7/5/2019 at 1:44 PM, billd766 said:

That is not correct according to HMRC. If you have more than one pension including the state pension HMRC puts the state pension first, therefore The state pension becomes non taxable. Any more pensions you have are tax free and combined with your state pension UP TO your personal tax allowance. Once the personal allowance for 2019 -20 is £12,500 it gives you the balance of your personal allowance as tax free income before you pay income tax.

 

DWP not HMRC (my apologies :sorry:) are the people who pay your state pension and HMRC are the ones that determine how much tax you actually pay and on which pension.

 

I have 3 pensions.

 

State pension tax free

Military pension is the one that is adjusted for the tax allowance.

Company pension is taxed at the BR of 20%

DWP AND HMRC  regulations are written so they are complicated. Surely

Income -12,500 = Tax at 20% is much easier.

I'm sure most people dont care whether their state pension is tax free or not, only the amount they have left afterwards.

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On 8/17/2018 at 12:40 PM, robblok said:

My mistake i think you might be right. 

he is right in america we just have to put up with his nonsense

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On 8/17/2018 at 1:40 AM, robblok said:

My mistake i think you might be right. 

Mel Gibson is a US citizen and Aussie permanent resident. He was born in New York to an Irish mother (her parents were immigrants to Australia). His father was American. They moved to Australia when he was a kid and he was raised there, so he has strong ties to both countries. 

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Oh, and I have no idea how you Brits live off pensions that small whether in or out of Britain. Under £300 per month for some of you? Ridiculous. 

But I guess a buddy of mine who works over there is still sharing a four bedroom house with three other people and he's 40-something... that's nearly unheard of in America. 

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No need to worry once Boris has 'Got Brexit Done' (by the end of January 2020 no less)  - the UK free of EU enslavement will be unleashed as a global powerhouse , the pound will soar and he will help to correct past injustices to Brits who took the freedom to retire abroad. Of this we can be sure. But first we must make sure that commie Corbyn doesn't get even a sniff of power. 

Edited by beautifulthailand99
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