Tax

[bust]

PUI

[migrant]

OK I don't know UK, or Australian taxes, but do know US taxes and, since both countries have a lot of similarities, perhaps the tax code is one.

 

The US taxes citizens on world wide income and, through a mostly world wide tax treaty, gives a credit for taxes paid to other countries.

 

If the UK tax system is similar then the tax collector is correct.

 

If the situation was reversed we would file the back US taxes, get the credit for taxes paid, and any difference would be owed. I believe the UK tax system is higher than US so some dollars may be owed, but perhaps not a huge amount.

 

It would be best for him to talk to an accountant

 

BTW I am a semi retired CPA (chartered accountant on your side of the pond) and have dealt with this before.

 

The tax man threats sound similar to US tax threats. They want to get your attention, and tax returns filed, but until complete they don;t know the amounts.

 

In the states we can get transcripts of what was reported to the tax man, perhaps your friend can get those, and file from them.

 

Good Luck!

[My Penis is hungry]

Hi Migrant, USA is one of the only countries that tax on global income, others don;t

[migrant]

Hi Migrant, USA is one of the only countries that tax on global income, others don;t

 

Thanks! I waited too long to move i guess!!

[Mekong]

Hi Migrant

 

What PTBM stated is true, the USA has the worst global taxation policy, I have personally taken US citizens to SE Asia put a cocktail in their hand and shoved a spliff down their neck, fuck you Uncle Sam, these gents could live better 5 Star in Bali for less than IRS would have hit them for if returned Stateside, Pina Calada and a doobie sat on a beach, fuck you Uncle Sam.

 

Tax law in TH is slightly different, any funds brought in from overseas which were earned 12 Months + ago are tax free, how do I know this fact well in 6 weeks time I hit my 25 years in Thailand and even now some idiots try to tell me I don't know what the game is.

[torrenova]

....Tax law in TH is slightly different, any funds brought in from overseas which were earned 12 Months + ago are tax free, how do I know this fact well in 6 weeks time I hit my 25 years in Thailand and even now some idiots try to tell me I don't know what the game is.

 

This critical point is overlooked and misunderstood by many just as is the UK tax regime and overseas earnings when living outside the UK.

 

There is no way someone working offshore for 15 years paying tax in the USA owes or paid the UK government £1.5m in unpaid tax. It just isn't possible.

[Guest]

" It just isn't possible."

 

He mentioned he had a house which the tax man knew about in the UK, maybe he rented it for 15 years and not declared the income. Perhaps there were back taxes owing, fines for not submitting tax returns and other things. .... Perhaps he lied about everything ....

[torrenova]

" It just isn't possible."

 

He mentioned he had a house which the tax man knew about in the UK, maybe he rented it for 15 years and not declared the income. Perhaps there were back taxes owing, fines for not submitting tax returns and other things. .... Perhaps he lied about everything ....

 

I do not doubt the potential for tax evasion but the amount over the time period are what I was questioning.

[Mekong]

Torrenova

 

It was 1.5 Million Baht over 15 years not STG, I think that 2 Grand per annum is about right for taxable income on rented property

[torrenova]

Torrenova

 

It was 1.5 Million Baht over 15 years not STG, I think that 2 Grand per annum is about right for taxable income on rented property

 

 

Oh, baht, then chump change.

 

Agents in the UK are required by law to withhold basic rate tax on rental incomes so 20% would be collected anyway unless dealing with tenants directly.