@Malcolm ********

sent you a screenshot of

When Santander closed my UK account, I went Revolut. Many investment opportunities, including precious metals and crypto and can hold accounts in multiple currencies. Good exchange rates too. Currently paying 4% per day on my balance. Check it out or message me and I get £70 for introducing you. See here

@Jim **********

Rolex make the Submariner, Omega make the Seamaster.

Take a look at Revolut. You can hold balances in different currencies, get a debit card, exchange currencies at a rate better than Wise, hold money in vaults - currently paying 3.44% AER calculated daily. You can also buy crypto and precious metals, should you wish. Direct debits can be arranged. Worth checking out. Works for me.

@Martin *******

yep they did the same to me.

@Bob *********

which is exactly what I was trying to explain! And why this statement on the aforementioned website is misleading, unless clarified as I did above.

"Only income earned inside Thailand shall be subjected to tax during retirement. Therefore, you will not be obliged to pay any taxes for any income you have earned from overseas. Also, personal income taxes are not required for retirees in Thailand. Note that you can’t work in Thailand while on a retirement visa".

@Colin ********

well I better tell my accountants and HMRC in the UK in that case, because they owe me a humungous refund after 10 years of paying UK income tax while living in Thailand.

Firstly to mention that ThaiEmbassy.com is not a government website. Secondly the following paragraph needs clarification to reflect the actual situation.

“Only income earned inside Thailand shall be subjected to tax during retirement. Therefore, you will not be obliged to pay any THAI taxes IN THAILAND for any income you have earned from overseas. Also, personal income taxes are not required for retirees in Thailand. Note that you can’t work in Thailand while on a retirement visa.” My additions in capitals. That is the true meaning of this paragraph.

@Bob *********

any overseas income above the tax allowances. You will also pay withholding tax on any interest earned in a Thai bank.

@Bob *********

Dear Sir or Madam,

Thank you for your query regarding Double taxation with Thailand for your UK State Pension.

Double Taxation Agreement (DTA)

A Double Taxation Agreement (DTA) is a set of rules and conditions between the UK and another country about the way you pay tax. If you live in a country that the UK has a DTA with you may be able to make a claim to stop paying all or some UK tax on certain types of income you get from the UK.

I’m afraid that under the UK/Thailand double taxation convention. There is no relief on UK State pension. You will continue to pay any tax due on the UK State Pension to the UK.

You can find more information about the Tax treaties online at:

Regards

Certificate of Residence Team

HMRC Personal Tax Operations

For the UK I am classed as a non-resident for tax purposes, but because the Thailand tax treaty with the UK does not cover pensions, I am taxed in the UK on both my company and state pensions.