tag:blogger.com,1999:blog-935671155105892832.post7355818414045537575..comments2023-05-20T18:26:02.212+07:00Comments on expat Udon thani Thailand: my expat plan udon thani issan part 1expatudon08http://www.blogger.com/profile/00517220267239403908noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-935671155105892832.post-43696182301071928502009-09-16T14:10:08.513+07:002009-09-16T14:10:08.513+07:00hoo don thanks very much for your input i think th...hoo don thanks very much for your input i think the figure sounds sounds good to me <br />when you get past the fixed costs what ever you have to live on can be vastly different to all of us that lead different lives <br />being a Yorkshire man some people would say i am careful with my money <br />lets say you gave my sister 10.000 pounds and myself 5.000 at the end of the year i would still have 5.000 she would be in debt for 5.000 the amount of money above your fixed costs will only last if its well managed i hope in years to come we both make the right choices and spend many a happy night on the terrace with a cold one in hand <br />regards john <br /><a href="http://www.thaiexpat.info/" rel="nofollow">thai expat info</a> <br /><a href="http://www.udonthani.co.uk/" rel="nofollow">udon thani</a>expatudon08https://www.blogger.com/profile/00517220267239403908noreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-91043313072101001982009-09-11T13:44:28.945+07:002009-09-11T13:44:28.945+07:00My intention is to semi retire in 5 years time at ...My intention is to semi retire in 5 years time at the age of 55. I would still like to work 3-4 months a year after but that could prove a problem. Its hard to put a figure on capital because it's a case of one day making the move or never doing it, taking a chance if you like. Push me and I'll call a figure of £75000.Hoo Donhttps://www.blogger.com/profile/06674472321855725644noreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-71139063017436886652009-09-09T23:21:01.913+07:002009-09-09T23:21:01.913+07:00Very fine Blog. I was looking for information abou...Very fine Blog. I was looking for information about <a href="http;//www.shoppingsurat.com" rel="nofollow">Surat</a> on Google. And saw your blog. Its really very fine.Suhana Ansarihttps://www.blogger.com/profile/09569497902965929846noreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-59665104389357560182009-09-07T13:00:55.170+07:002009-09-07T13:00:55.170+07:00tax and UK tax especially is large slice of anybod...tax and UK tax especially is large slice of anybody's cake they give you more money with one hand and take back with the other nearly double<br />i was reading up on the whole position on tax which is very complex but there are areas of interest to me as my son was born overseas but resident in the uk he could be classed as non domicile here is some more info <br />Residence, Domicile and Tax Issues<br /><br />Residence and Domicile are two different concepts which change how your tax is calculated.<br />Residence<br /><br />To become non-resident for tax purposes is usually quite simple but requires strict compliance with the regulations. If you live outside the UK for at least a full tax year and spend more than 183 days (or an average of 90 days per year for four years) or less visiting the UK then you can often benefit from non-resident status. After three years abroad, the Revenue will accept that you intend to remain abroad, but the requirements as to days in the UK remain.<br /><br />You may then be eligible for the following benefits<br /><br />•There is no capital gains tax to pay on UK investments if you have lived outside the UK for more than five years as a non-resident<br /> <br />•Being non-resident for more than three years can relieve you from income tax on any income you receive from overseas<br /> <br />•By setting up an off-shore bank account you may be able to stop paying income tax if the result is that technically you no longer have any income source from the UK<br /> <br />•Dividends from UK companies would not be taxable<br /><br />It is necessary to prove that you have met the strict requirements (relating to future intentions as well as to past facts) which are more complex than this brief note can cover.<br />Domicile<br /><br />Domicile is more difficult to define than residence. You can be non-resident in the UK but still be domiciled in the UK.<br /><br />A claim that you have become non-domiciled in the UK is often challenged by <a href="http://www.hmrc.gov.uk/index.htm" rel="nofollow">HM Revenue and Customs</a> <br /><br />Most people are domiciled in their country of origin regardless of where they now may be resident. Furthermore your father’s domicile will also be relevant to you. Therefore if your father was not born in the UK you may be able to inherit his non-UK domicile.<br /><br />If this is not the case then to change to being non-domiciled you must not only move abroad but also have very few ties to your original domiciled country. This can be very difficult to prove especially if you visit relatives or do business in the UK.<br /><br />The benefits of being non-domiciled in the UK include the following:<br />•You could save a large amount on death as those not domiciled in the UK are no longer subject to UK inheritance tax on their overseas assets<br />•There are also income tax and capital gains tax exemptions<br /><br />This is only a brief outline on this very complex and evolving area of law in regard to tax.<br /><a href="http://www.thaiexpat.info/" rel="nofollow">thai expat info</a> <br /><a href="http://www.udonthani.co.uk/" rel="nofollow">udon thani</a>expatudon08https://www.blogger.com/profile/00517220267239403908noreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-86720659462436181472009-09-07T08:39:36.028+07:002009-09-07T08:39:36.028+07:00I didn't make a decision to retire to Thailand...I didn't make a decision to retire to Thailand until 2001, but luckily there were elements already in place as I'd lived in the region since '94 so did not move back from the UK blind.<br /><br />The UK is a horrifically expensive place to live. If you can manage it, work overseas and get the employer pay all taxes OR live in a tax free country. <br /><br />Salaries tax free do not seem grand at first glance, but it's amazing what you can save when taxes are not whittling away at what you earn.<br /><br />If you can pull it off, continue to work once in Thailand.<br /><br />While I do have property in the UK, the latest housing crisis has pretty much taken a chunk out of that for years to come. I'm young, so I'll still be young when I get the benefits from selling, just not as soon as I'd planned.<br /><br />For the small things... I noticed that those with connections overseas spent a terrible amount of money on long distance phone calls. Sometimes hundreds a month. <br /><br />After being burned in France (92-94) where there were long distance charges to the next village even, and calling home gifted me insane phone bills each month, I stopped wasting money and have saved thousands since then. <br /><br />I also quit smoking, saving even more thousands.<br /><br />Sometimes it's the little things that save big.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-77776798856187452092009-09-06T16:53:53.744+07:002009-09-06T16:53:53.744+07:00hoo don yes the travel costs are high but i would ...hoo don yes the travel costs are high but i would say necessary to maintain are sanity but you do have a plan and aim sure the combination of investments will pay of in the long run lets hope you get there what age do you plan to retire at and what would you say the minimum amount of capital you would be happy to live of buddy<br />myself i have modest needs but would still like to have the means to do some small scale travels around Asia<br /><a href="http://www.thaiexpat.info/" rel="nofollow">thai expat info</a> <br /><a href="http://www.udonthani.co.uk/" rel="nofollow">udon thani</a>expatudon08https://www.blogger.com/profile/00517220267239403908noreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-84656779505815633782009-09-06T16:25:49.515+07:002009-09-06T16:25:49.515+07:00John I have and still do spend thousands travellin...John I have and still do spend thousands travelling to Thailand each year and it is money that I could do with adding to my nest egg. Investments...I have a mortgage with 15 years to run on it as well as a nest egg of savings. I also have over 5K invested on the UK and Thai stock markets but all in all I'm probably right now about 40K short of retiring in Thailand. It's going to take a few years to get that.Hoo Donhttps://www.blogger.com/profile/06674472321855725644noreply@blogger.comtag:blogger.com,1999:blog-935671155105892832.post-89515234558917394162009-09-06T16:24:29.350+07:002009-09-06T16:24:29.350+07:00John I have and still do spend thousands travellin...John I have and still do spend thousands travelling to Thailand each year and it is money that I could do with adding to my nest egg. Investments...I have a mortgage with 15 years to run on it as well as a nest egg of savings. I also have over 5K invested on the UK and Thai stock markets but all in all I'm probably right now about 40K short of retiring in Thailand. It's going to take a few years to get that.Hoo Donhttps://www.blogger.com/profile/06674472321855725644noreply@blogger.com