UK TAX

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tomboy
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UK TAX

Post by tomboy » March 29, 2022, 11:35 am

A friend of mine has informed me that he has completed a HM Revenue &Customs Double Taxation Treaty Relief form which he states will avoid him paying any tax on his UK private and old age pensions as he resides here in Thailand.I was reluctant to agree that this was factual but would welcome the thoughts on this from KP or other members.



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Khun Paul
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Re: UK TAX

Post by Khun Paul » March 29, 2022, 2:58 pm

Sadly I explored this but as I have a Government ( Police ) Pension, Income Tax is deducted at source and HAS TO be paid .
As when I became eligible for Statutory Old age Pension my income tax went up by nearly 100 Gdp.. Now having that Double taxation form signed for the UK, will mean that if she should ever gat a job in Thailand he will have to pay Thai Income tax`.
The other thing I was told was that by also paying UK Income Tax, should I ever return I would be considered more favourably than someone who has not paid in for years.
whether that is fact I know not but in todays financial woes many have that little back-up could be worth its weight in gold `

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BillaRickaDickay
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Re: UK TAX

Post by BillaRickaDickay » March 29, 2022, 3:23 pm

Khun Paul wrote:
March 29, 2022, 2:58 pm
Sadly I explored this but as I have a Government ( Police ) Pension, Income Tax is deducted at source and HAS TO be paid .
As when I became eligible for Statutory Old age Pension my income tax went up by nearly 100 Gdp.. Now having that Double taxation form signed for the UK, will mean that if she should ever gat a job in Thailand he will have to pay Thai Income tax`.
The other thing I was told was that by also paying UK Income Tax, should I ever return I would be considered more favourably than someone who has not paid in for years.
whether that is fact I know not but in todays financial woes many have that little back-up could be worth its weight in gold `
I was just wondering, what would be the favours that you might be looking for?
He's got his little y-fronts and he's got his little vest, Chaz Jankel, 1998. Mash it up Harry.

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GT93
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Re: UK TAX

Post by GT93 » March 29, 2022, 4:26 pm

Shouldn't Thailand have the right to tax the pensions of many farang resident in Thailand? Perhaps the precarious nature of their stay means farang aren't tax residents in Thailand. Tax residency rules can be very complicated.
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parrot
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Re: UK TAX

Post by parrot » March 29, 2022, 5:04 pm

As it was explained to me......my military pension/social security is taxed in the US as the country of origin. The interest on my Thai bank account is taxed in Thailand in the same way. I report my Thai bank interest on my US tax return, but it's not taxed by the US.

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sometimewoodworker
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Re: UK TAX

Post by sometimewoodworker » March 29, 2022, 5:05 pm

tomboy wrote:
March 29, 2022, 11:35 am
A friend of mine has informed me that he has completed a HM Revenue &Customs Double Taxation Treaty Relief form which he states will avoid him paying any tax on his UK private and old age pensions as he resides here in Thailand.I was reluctant to agree that this was factual but would welcome the thoughts on this from KP or other members.
There are some rather complex tax rules in Thailand. One of them is that if the money transferred in to Thailand is from savings it isn’t taxable as it isn’t income. So the tax only comes into play if you transfer this year’s pension this year.

There is a tax treaty that basically says that if you pay U.K. tax on income the Thai tax liability is reduced by the amount of U.K. tax paid, so he may be correct.

However if HMRC has agreed not to tax him (I don’t know if they can/will) he will need to declare the pensions for tax liability in Thailand. If they reach the threshold for Thai taxation would be a question for the tax department or a tax account here.
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rick
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Re: UK TAX

Post by rick » March 30, 2022, 8:58 pm

As far as i know, UK income tax is applied to all UK based income, plus possibly any remitted from overseas. Thia applies wether resident or not. If you are considered Uk resident other income may be taxed as well, but that's when it gets complicated.

As for his pensions, they will be liable for tax. Only way to avoid that is move his personal pension offshore. State pension cannot move.. He would still have his tax free allowance.

I suspect he is wasting his time. For me, like KP, my pensions are government based so UK gets first call. BUT as main pension s government pension Thailand will not tax it anyway unfer current rules. Of course. I only bring savings in to Thailand anyway 🥲😇

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