British Expat Taxes in Thailand are Under Review
British expats living in Thailand may be facing taxes they weren’t anticipating. A consultation document from HM Revenue & Customs claims that few countries in the world have such generous expats allowances as Britain and suggests restricting this privilege to those who spend at least 6 months a year in the UK. The plan directly impacts 25,000 British expats based in Thailand. The total sum the government could save is almost 400 million pounds.
The tax-free allowance is currently 10,000 pounds a year, due to rise to 10,500 pounds next year. If the personal allowance is withdrawn for non-residents without exception, then all individuals would be 2,000 pounds (100,000 baht) worse off annually, or 4,000 pounds for married couples. They would begin paying tax of 20 percent from the first pound of income, and 40 percent on income of 31,000 pounds or more. Presently, the government has not made a final decision on the proposals put forward by British Chancellor of the Exchequer George Osborne. British Expat Taxes in Thailand are up for grabs. British expats in Thailand have enjoyed a privileged tax status to date. Is that status threatened? Full story here.
Incidentally, we’re affiliated with one of the only agencies in Thailand authorised to represent British Citizens for receipt of Embassy services without your travelling to Bangkok. This includes British Passport renewals; Proof of Income letters for British citizens (simply email your proof of income, a copy of your photo page in your passport and your address details before 6pm on Monday and your letter will be sent to you by EMS the following Monday; Baby’s First UK Passport – Do you have a child with your Thai partner and wish to register them for British citizenship? We can handle your UK passport application on your behalf – taking away the stress and hassle of travelling to Bangkok. Contact us for details.