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Thread: Getting my head around ETFs ....(taxes)

  1. #1
    Member SLeesy's Avatar
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    Getting my head around ETFs ....(taxes)

    Morning All,

    So I sold a UK property, have the cash in GBP in Saxo Singapore, want to buy some ETFs.

    Do I get taxed in UK or Thailand ? Either Income tax or Capital Gains ?

    UK Synthetic ETF are tax free but higher risk ....
    Then there's ETFs that are deemed Reporting/Distributor so get taxed as Capital Gains etc

    Just wondered if anyone had drilled into this before and worked out the best route ...

    Cheers,
    SLeesy.

    Ps Just FYI I'm looking at Vanguard and Powershares World/FTSE/RAFI/S&P500 etc etc

  2. #2
    K2
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    Super Moderator K2's Avatar
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    Depends on your tax status (UK?) ... would reckon with respect to Thailand you would not need to pay any taxes.
    Its My Life .....!

  3. #3
    Member SLeesy's Avatar
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    Hi K2,

    I'm UK non-Resident for 10 years now, but do have 2 shops that I rent out so receive rental income and pay tax on that annually ...

    Also never been asked to or have paid Tax in Thailand either ....

    Cheers
    SLeesy
    Last edited by SLeesy; 1st November 2015 at 09:00.

  4. #4
    Senior Member 2girls1cup's Avatar
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    From here:

    https://www.gov.uk/tax-foreign-incom...iled-residents



    3. 'Non-domiciled' residents

    UK residents who have their permanent home (‘domicile’) outside the UK may not have to pay UK tax on foreign income.
    The same rules apply if you make any foreign capital gains, eg you sell shares or a second home.

    Working out your domicile

    Your domicile’s usually the country your father considered his permanent home when you were born. It may have changed if you moved abroad and you don’t intend to return.
    If you need help working out which country you’re domiciled in, you can:


    There are additional rules for domicile and Inheritance Tax.

    Tax if you’re non-domiciled

    You don’t pay UK tax on your foreign income or gains if both:

    • they’re less than 2,000 in the tax year
    • you don’t bring them into the UK, eg transfer them to a UK bank account

    If this applies to you, you don’t need to do anything.
    Chapter 9 in HMRC’s guidance on ‘Residence, Domicile and the Remittance Basis’ explains the rules for bringing income or gains to the UK.
    If your income is 2,000 or more

    You must report foreign income or gains of 2,000 or more, or any money that you bring to the UK, in a Self Assessment tax return.
    You can either:

    • pay UK tax on them - you may able to claim it back
    • claim the ‘remittance basis’

    Claiming the remittance basis means you only pay UK tax on the income or gains you bring to the UK, but you:

    • lose tax-free allowances for Income Tax and Capital Gains Tax (some ‘dual residents’ may keep them)
    • pay an annual charge of 30,000 if you’ve been resident of the UK for at least 7 of the previous 9 tax years (this rises to 50,000 once you’ve been here 12 of the previous 14 years)

    Claiming the remittance basis is complicated. You can:

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  5. #5
    Senior Member 2girls1cup's Avatar
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    From here:


    Tax Requirements and Obligations for British Citizens Who Move Overseas : Expat Info Desk

    Capital Gains Tax

    You will not be eligible to pay this form of tax if you are able to prove that you were a non-resident or not ordinarily resident for at least 4 full years out of the last 7 before you became a non-resident. This provision comes from ‘Extra Statutory Concession D2’, which can be found at the following link: http://www.hmrc.gov.uk/specialist/esc.pdf
    If any gains accrue through an establishment that remains connected with the UK, even if you are living in another country, these will continue to be liable to the payment of capital gains tax. This would include where such establishment is being managed through a third party (e.g. an agent).
    For more information pertaining to this specific form of tax, please refer to the ‘Selling Property’ section below.
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  6. #6
    Member SLeesy's Avatar
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    Thanks 2G1C !

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