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Author Topic: Trench's Questions and Philosophies  (Read 172352 times)

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Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1350 on: May 09, 2018, 01:38:00 AM »
Once again,

Just admit it - you ARE clueless

As I was not earning in the UK - WHY would I send money to a UK bank ?  Sending money there WOULD have caused Tax issues ..

Like I said - you've not got a clue - never been an ex-pat...just more Trench wasting cyberspace


I never closed the account - just didn't USE it

Earlier you said "why would I keep a UK bank account open?" And that the Natwest man advised you to close it, he felt bad so assumingly  you closed the account.

I'm pretty sure I don't monitor the odd few quid going in & out if everyone's bank account. Imagine the workforce needed to do that. Credit ref agencies only ten to know when you are in trouble/have been in trouble. They know nothing of your wages or bank account that's classified information. All they know is how much you are maxed out on any credit.
No Deal is Ideal, It's a Free Britain we want :)

Online msmob

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Re: Trench's Questions and Philosophies
« Reply #1351 on: May 09, 2018, 03:32:32 AM »
Earlier you said "why would I keep a UK bank account open?" And that the Natwest man advised you to close it, he felt bad so assumingly  you closed the account.

HE may have said to close it - but I kept one pound in it ..

I'm pretty sure I don't monitor the odd few quid going in & out if everyone's bank account. Imagine the workforce needed to do that. Credit ref agencies only ten to know when you are in trouble/have been in trouble. They know nothing of your wages or bank account that's classified information. All they know is how much you are maxed out on any credit.

Once again, Trench proves he is clueless on most stuff

CRA's give crap scores to people who don't borrow - I kept paying off two UK CR cards ...  IF you haven't been resident in the UK for 6 years or more BAD

When are you going to post on a subject you HAVE had practical expertise ? ..Other than how NOT to try to date ? 
No to Brexit, Yes to a People's Vote on Brexit, THEN a General Election

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1352 on: May 09, 2018, 05:22:30 AM »
HE may have said to close it - but I kept one pound in it ..

Once again, Trench proves he is clueless on most stuff

CRA's give crap scores to people who don't borrow - I kept paying off two UK CR cards ...  IF you haven't been resident in the UK for 6 years or more BAD

When are you going to post on a subject you HAVE had practical expertise ? ..Other than how NOT to try to date ?

I think you are now giving out BS,  you closed it but have now realised you look foolish on here for doing so. So you are backtracking and are now telling everyone you kept it open, am I right? :)

CRA's give bad scores to those that have NEVER had a credit card, nor to those that have even if no longer using as much. If you we'd still using yours even if just paying of you would have been fine. Afraid the only culprit was your own stupidity here Mobers for not keeping a bank account open.
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1353 on: May 09, 2018, 05:46:12 AM »
Not foolish at all.  The UK taxes individuals based on residency.  A bank account would be an indicia of residency, subjecting the person with the bank account to (presumably) higher taxes. 
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1354 on: May 09, 2018, 06:56:00 AM »
The UK primary taxes are, Income tax - based on earnings from work, or income in general. VAT - a tax on sale of goods & services. Council tax - based on residence where one lives.

Aditionally, there is Corporation tax for private & public companies.

If Mobers just has a bank account with a residual amount of money in it or going to & from it, it is highly unlikely to flag up any requirement to tax.

For those bringing in significant income not through work based earnings there is self assessment that must be completed each year. Howe very,  since Mobers was abroad he would have no significant income in this country so would not need to complete one. IR are not concerned about a few hundred pounds here or there, there are tax free allowances to cover these bothering them, they have far bigger fish to fry.
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1355 on: May 09, 2018, 08:20:07 AM »
No you are wrong on this. You can go search the case law.

I donít need a lesson in tax law.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1356 on: May 09, 2018, 09:46:52 AM »
No you are wrong on this. You can go search the case law.

I donít need a lesson in tax law.

Oooo... looks like someone has had their cage rattled :D
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1357 on: May 09, 2018, 10:07:09 AM »
Hardly.  As moby stated, if you are going to post nonsense, then don't be surprised if you're called out on it.  To avoid residency for tax purposes, all ties must be severed, and yes, tax authorities look at them, as do the courts.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1358 on: May 09, 2018, 10:31:29 AM »
Hardly.  As moby stated, if you are going to post nonsense, then don't be surprised if you're called out on it.  To avoid residency for tax purposes, all ties must be severed, and yes, tax authorities look at them, as do the courts.

But that's not to say you will be taxed only that they have he ability to, if little/no money is being dealt with within the UK then there is no tax implication.
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1359 on: May 09, 2018, 12:50:44 PM »
No.  If you are found to be resident by virtue of not severing your ties to the UK, you will be taxed on your worldwide income, for each year you are deemed to be resident.  If you are taxed at a lesser rate in the country in which you currently reside, you will be paying penalties and interest.  That is why you sever all ties.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1360 on: May 09, 2018, 12:55:41 PM »
No.  If you are found to be resident by virtue of not severing your ties to the UK, you will be taxed on your worldwide income, for each year you are deemed to be resident.  If you are taxed at a lesser rate in the country in which you currently reside, you will be paying penalties and interest.  That is why you sever all ties.

Yeah, but there not going to know what you have in other countries as the UK gov will not have access to another country's residents tax info.
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1361 on: May 09, 2018, 01:01:55 PM »
If there is a tax treaty with that other country, then yes, UK taxation authorities will have access to that information.  So, you are absolutely incorrect.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1362 on: May 09, 2018, 01:32:59 PM »
If there is a tax treaty with that other country, then yes, UK taxation authorities will have access to that information.  So, you are absolutely incorrect.

Only probably really happens when a lot of money is at stake and they've come to the authorities attention because of that. For the average joe with a few quid income here or there its doubtful the time or trouble is bothered about with them.
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1363 on: May 09, 2018, 01:34:16 PM »
No, it doesn't.  If you are taxable, they will assess you. 
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Offline Anotherkiwi

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Re: Trench's Questions and Philosophies
« Reply #1364 on: May 09, 2018, 06:50:08 PM »
Case in point - my mother receives a tiny (40-odd pounds per quarter) pension from the UK as a hangover from when she worked there for a while more than 30 years ago.  Both countries' Inland Revenue departments are aware of this, and require it to be included in her tax returns every year - even though she has no UK income apart from this, and it's so small that it's tax-exempt anyway.

So no, Trenchcoat - once again you've proven that there's yet another subject where you simply haven't a clue.

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1365 on: May 09, 2018, 07:10:11 PM »
Case in point - my mother receives a tiny (40-odd pounds per quarter) pension from the UK as a hangover from when she worked there for a while more than 30 years ago.  Both countries' Inland Revenue departments are aware of this, and require it to be included in her tax returns every year - even though she has no UK income apart from this, and it's so small that it's tax-exempt anyway.

So no, Trenchcoat - once again you've proven that there's yet another subject where you simply haven't a clue.

Actually, you have precisely proven my point, in the UK you have a personal allowance of just over 11k per annum. Hence like I said earlier, small amounts will not be taxable by the UK gov so a few hundred pounds going back and forth will not be taxed. Hence no need to close a UK bank account.
No Deal is Ideal, It's a Free Britain we want :)

Offline Anotherkiwi

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Re: Trench's Questions and Philosophies
« Reply #1366 on: May 09, 2018, 07:28:19 PM »
Actually, you have precisely proven my point, in the UK you have a personal allowance of just over 11k per annum. Hence like I said earlier, small amounts will not be taxable by the UK gov so a few hundred pounds going back and forth will not be taxed. Hence no need to close a UK bank account.

You're as bad as some of the US posters on here when it comes to reading what has been written!

What we are trying to tell you is that both governments are aware of ALL transactions.  My mother doesn't have a UK bank account, but is still required to request an annual UK tax exemption because she is an overseas recipient of a UK pension.  The fact that the amount is so small is totally beside the point!  :cluebat: :cluebat: :cluebat:

I really don't know why I bother  :wallbash: - my application for sainthood must have got lost in the mail ...

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1367 on: May 09, 2018, 07:36:29 PM »
Actually, you have precisely proven my point, in the UK you have a personal allowance of just over 11k per annum. Hence like I said earlier, small amounts will not be taxable by the UK gov so a few hundred pounds going back and forth will not be taxed. Hence no need to close a UK bank account.

You are only entitled to an allowance or exemption if you are resident in a country.  The exemption is not because itís a small amount, it is because it is covered by a tax treaty.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1368 on: May 10, 2018, 12:10:40 AM »
You are only entitled to an allowance or exemption if you are resident in a country.  The exemption is not because itís a small amount, it is because it is covered by a tax treaty.

If this is so then Mobers would have been best being resident in both countries part of the year to maintain his tax status and credit reference. Clearly he had not thought things through enough  here :)
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1369 on: May 10, 2018, 12:46:50 AM »
You donít pay tax for part of a year. If youíre deemed resident, itís for the entire year.
Then youíre paying high UK tax without any of the benefits.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online jone

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Re: Trench's Questions and Philosophies
« Reply #1370 on: May 10, 2018, 03:38:07 AM »
You're as bad as some of the US posters on here when it comes to reading what has been written!

What we are trying to tell you is that both governments are aware of ALL transactions.  My mother doesn't have a UK bank account, but is still required to request an annual UK tax exemption because she is an overseas recipient of a UK pension.  The fact that the amount is so small is totally beside the point!  :cluebat: :cluebat: :cluebat:

I really don't know why I bother  :wallbash: - my application for sainthood must have got lost in the mail ...

No, Kiwi,  your application did not get lost in the mail.  We've been reviewing it.  Barring any difficulties, Sainthood (level 1) should be awarded you as soon as you expire.
Kissing girls is a goodness.  It beats the hell out of card games.  - Robert Heinlein

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1371 on: May 10, 2018, 04:54:29 AM »
You donít pay tax for part of a year. If youíre deemed resident, itís for the entire year.
Then youíre paying high UK tax without any of the benefits.

Mobers would be deemed resident for the entire year even if he were there for part of the year. A bit like if a UK citizen goes on a long holiday during the year, the tax man would not know when or where but the personal allowance and tax would be for the full tax year. Higher rate would only apply if he passed the income threshold for that higher rate. Same as usual.
No Deal is Ideal, It's a Free Britain we want :)

Offline Boethius

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Re: Trench's Questions and Philosophies
« Reply #1372 on: May 10, 2018, 05:20:56 AM »
Yes, I posted that you are resident for the entire year, if deemed resident.


Higher rate than where he is living.


If you have income in one jurisdiction, but live in another, you are taxed in both, and then rely on treaties to reduce tax.  That's why, if you are working abroad, in a lower tax jurisdiction, you try to cease residency. 


Please just stop.  This is not "google" stuff.  The bottom line is, he ceased UK residency for tax purposes for a reason, and that reason is usually about paying less tax.
To love someone means to see him as God intended him. - Fyodor Dostoevksy

Online Trenchcoat

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Re: Trench's Questions and Philosophies
« Reply #1373 on: May 10, 2018, 07:01:30 PM »
Yes, I posted that you are resident for the entire year, if deemed resident.


Higher rate than where he is living.


If you have income in one jurisdiction, but live in another, you are taxed in both, and then rely on treaties to reduce tax.  That's why, if you are working abroad, in a lower tax jurisdiction, you try to cease residency. 


Please just stop.  This is not "google" stuff.  The bottom line is, he ceased UK residency for tax purposes for a reason, and that reason is usually about paying less tax.

Ok, you're near enough there so I'll let you off on this one ;D
No Deal is Ideal, It's a Free Britain we want :)

Online msmob

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Re: Trench's Questions and Philosophies
« Reply #1374 on: May 10, 2018, 10:49:34 PM »
I see Trench is now a 'tax expert', too ....


No to Brexit, Yes to a People's Vote on Brexit, THEN a General Election

 

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