Eneukman

I suspect that the success or otherwise of that would depend on where in the UK you used to live. There were two or three flats available for rent in the street where I lived in Edinburgh and the yield after tax and expenses would have been quite a bit under 4%. I'm not sure what the Capital Gains Tax implications would be if you were to do that and then go back there to live out your dotage. The gain in the period you were living in Thailand might not be exempted as it wasn't your principle residence during that time. Nevertheless, that is one option that might suit some people. Alan

My figure of £305,000 - £340,000 would give you a monthly income of 80,000 baht per month (assuming you could get 4% to 4 1/2% after tax) now. I hadn't factored inflation into my figures which will increase the 80,000 baht per month requirement year on year. So if inflation in Thailand were to run at say 5%, you would need 84,000 baht next year and so on. The principle of what you're saying is correct though I'm not absolutely certain on the arithmetic. Certainly £700,000 would cover you, and would I think from some very quick and very rough computations give you a reasonable amount of leeway in future years should interest rates fall or if the exchange rates drops drastically. Investing on the stock market is also a risk but I will be doing my best to check out reports on the companies I've invested in in Investors Chronicle and will sell and buy shares in a different company if the need arises. As many of these shares were purchased after I left the UK, I can sell them at any time without having to worry about Capital Gains Tax implications. Alan

I'm always somewhat wary of very short connection times, especially at the start of a holiday as the slightest delay could result in you missing your onward connection. Flying from Edinburgh to London I've had more than one delay of an hour or so plus a delay at Heathrow due to a fire alarm going off in the Flight Connections area. On my way back home, I wasn't quite so concerned as there were always plenty flights back to Edinburgh. Alan

Not aware of anything, Emil though unless the other person was expecting a PM, they might not let you know that the message hasn't been received. Alan

If you can get 4 1/2% after tax, you would need £305,000 (based on an exchange rate of 70 baht to the £). On a rate after tax of 4%, you would need £340,000. I have ignored personal tax allowances in arriving at these figures, as I'm too tired to do the necessary sums. However, in reality you would need more than that to compensate for the fact that interest rates are likely to fall in the UK. In addition, you also need to factor in the effect of inflation as by leaving all your money in a bank account it isn't going to grow and the interest you get isn't going to increase unless interest rates start rising. I've invested a substantial sum on the stock market and based on current share prices and predicted dividends, my yield (after tax) will be 4.5%. If share prices go up, the yield will fall but hopefully the dividend paid by companies will increase on average by at least the rate of inflation thus increasing my income year on year. Alan

November is going to be my most expensive month of living here and even with that I reckon my total expenditure is going to come in at something a bit under 90,000 baht. This figure includes some exceptional items such as a customs "bribe" of 4,000 baht to get my effects through Customs without any hassle and 4,300 baht for my next (and final) round of language lessons and the purchase of a portable CD player for 3,200 baht. Excluding these items, my expenditure for this month will be a bit under 80,000 baht. My income will allow me to spend a bit more each month but I need to keep some back to pay for side trips away from Pattaya from time to time. I barfine a girl on average once every three nights and tend to stay away from the bars unless I'm out on the prowl. Doesn't always work for various reasons though Alan

I bought shares in 8 different companies when I got the sale proceeds of my flat last month and in the few weeks since then 7 have risen and 1 has gone down though only by 3p a share. I was particularly fortunate when I bought a batch of Alliance & Leicester shares at 822. They closed last week at 895. The market as a whole has risen in this time, which has helped. Now if only every share I bought would do as well Alan

Thanks for clarifying the tax rate on rental income, Bill. I couldn't remember whether it was treated as earned income (22%) or as investment income (20%). I have to go along with Niall as the net income I could have received by renting my flat in Edinburgh would have been a lot lower than I can get by investing in the stock market and a lot less than the 180,000 baht per month that Valentino can get. One thing I did before moving out was take out a subscription to Investors Chronicle magazine. http://www.investorschronicle.co.uk/content/paid/home.html It cost something in the region of GBP120/140 and as well as receiving the magazine every week, I get access to the members' area of their web-site so I can keep an eye on share prices as well as read reports each company's results every half year. Lloyds TSB shares currently offer a yield (after tax) of 7.2%. The latest report I saw on them in Investors Chronicle (August) suggested that the shares were at that time "High enough", which is a fairly strong indication that you should not be buying at that price. The shares I have bought will, if the dividends hold up, give me a net yield of 4.5%, though I can increase this slightly by selling some of my HBOS shares and buying some more shares in companies that offer a higher yield. Whatever company you invest in, NEVER put all your funds into one individual company. Also, remember that share prices can go down as well as up and that dividends paid can be reduced as well as increased. Finally, as always, be wary about taking investment advice from all the amateurs on this board, including myself. Alan

You don't pay capital gains tax on rental income. You pay income tax at either 20% or 22% (can't remember which) though if you're UK income is above a certain figure then you will have to pay income tax at 40%. However, from the rental income you can deduct agents' fees, insurance, cost of running repairs etc and you are liable to income tax on the rental income AFTER these outlays. As you are no longer resident in the UK, you will have to pay Capital Gains Tax when you eventually sell the house. This will be the difference between the sale price and the value when you left the UK, less certain costs. I considered renting but decided that the hassle involved, agents' fees and so on were not worth it. Also, I reckoned that I could get a higher income by investing on the stock market, with hopefully a rise in the value of the shares over time. Alan

Because I only worked for 33 years, I'm going to have to pay additional voluntary contributions from next April until I'm 60 or so tio ensure that when I do eventually reach the grand old age of 65 I'll get my the full state pension, albeit until the next increase goes through. I have no doubt whatsoever, that one of these days they'll bring in a law that says that all those of us who have paid tax and national insurance for years but have chosen to save the government money in health care costs etcx by going abroad to live will be banned from coming back to get free medical attention or else we will be forced to pay through the nose for it. In the meantime, all those who have only been in the country for 5 minutes will get whatever care they want without ever having to contribute a penny in tax or national insurance. Alan

Erm -directions are fine except that if you turn right after going south, you will be heading in a westerly direction. Alan

Letter written. I'll post it tomorrow afternoon. The letter from Nationwide was actually written when I was still living in the UK so hopefully once they accept that I'm now living in Thailand, there won't be a problem. Alan

I believe you. We had no central heating at home in these days and it was not uncommon to have to scrape ice off the INSIDE of the bedroom window in winter. Yet, I don't ever recall complaining about feeling cold! Alan

The place you're looking for is TukCom. It's on South Pattaya Road (right hand side as you walk down from Beach Road). It's almost directly opposite Soi Buakaow. Alan

If I wish to request my interest to be paid without deduction of tax in future, I have to complete a "Self Certified Exemption Form" giving the reason for being excluded from the European Union Savings Tax Directive. This gives me 4 options - 1. I am resident in the UK but my offshore interest is only liable to tax in the UK if that interest is remitted. There is more on this exemtion but it doesn't apply to me as I'm no longer resident in the UK for income tax purposes. 2. I attach a Tax Exemption Certificate issued by the tax authority in the country in which I am permanently resident. 3. I attach a letter from my accountant/solicitor confirming I am exempt from paying tax in my EU member state. Doesn't apply to me as my income in the UK is liable to tax. 4. I benefit from income tax in my country of residence. Please give further details. Having read this again, it may well be that I have been reading too much into this. They still have a correspondence address for me in the UK so I think I will advise them of my address here in Thailand and claim exemption on the grounds that I am no longer resident in the UK. Alan

As most of you from the UK will know, those bastards in Brussels are doing their best to mess up the tax free intrerest available on accounts held in the Isle of Man and the Channel Islands. As I understand the position, my Isle of Man bank will be obliged to deduct withholding tax from my interest unless I can send them a letter from an accountant here certifying that I do not have to pay income tax in Thailand. Can anyone recommend a reliable accountant who can give me an appropriate letter? The tax rate for this tax year isn't too bad but it seems as though this will increase to something outrageous like 35% in a year or two. Alan

When I was getting my bank letter, the girl was quite keen to sign me up to one of those higher interest accounts. I was interested but couldn't stay on at that point so I couldn't ask what the lock-in period was. I'll make some enquiries in the next week or so and will post here what they tell me. Certainly, the money put into that type of account would have to be funds you don't need for the immediate future. Alan

Larry, It's not so much as getting your pension paid if you live in Thailand. It's rather that the UK Government are saying thank you very much for saving us money by living abroad and then tell us that the amount of pension they pay will never increase unless we return to the UK (or the EU and a few other select countries) to live. I saw some figures a while back and seem to recall that the actual cost of paying all those ex-pat pensioners the annual increase would be minimal compared to the total overall cost. Alan

El tib, I have no option but to show proof of funds in the bank as my pension income is less than 65,000 baht per month. My total income is, however, well in excess of that figure. You can use the funds in the account for day to day living expenses whilst here. Higher interest accounts are available but I'm not sure what the minimum depost is. I'll look into this at some point. Also, if you were planning on retiring here, the Thai Immigration are cracking down on people who come in on a 30 day stamp and then leave and immediately re-enter the country once their permission to stay expires. Alan

Exactly what happened to me though mine cost 400 baht at the Pattaya International Hospital. I needed some different blood pressure pills as the Bendrofluazide I took aren't available in Thailand. The doctor gave me a chit for some different pills. Next year, I'll go to a clinic instead. Alan

I got my retirement visa a few weeks ago and so long as you have the correct documentation, it is very straightforward. I obtained my medical certificate one day and I was 2nd in the queue at the Bank of Bangkok when it opened at 8.30 the following morning. I then had to return home (opposite direction) for a toilet emergency and even allowing for that I had my extension stamped in my passport by 10.30. One point, though - the multi re-entry permit is 3,800 baht. Single re-entry permits are 1,000 baht. I have still to apply for this but will probably go for the multiple permit to avoid having to go reapply every time I want to take a break elsewhere. Alan

I've still to get around to applying for my Thai driving licence - have the International Permit already. As many of you will know, your first Thai licence will only be valid for 1 year. Your 2nd licence will cover you for 5 years BUT (remember this is Thailand ) you must allow your 1st licence to expire before applying for a new one or you licence will again only be valid for 1 year. Alan

Next time a driver tries it on, I should maybe say to them "mai nak tongtiaw krap" (not a tourist) and see their reaction. Alan

I'll need to try that sometime. This afternoon would have been a prime time as the driver tried asking for 15 baht (or was it 20 baht?) for taking me from View Talay to Soi 7. I just walked away and crossed the road. After my Thai language lesson I had to change buses at Pratamnak Road and I think I got the same driver there down to View Talay. He didn't try asking for more than 10 baht that time. I've fallen foul of drivers taking a left turn up Central Road in the past though I had been on board since the Dolphin Roundabout or maybe Soi 2. Now, I never get on a bus between Soi 6 and Soi 7 or if I do, I will point along to Walking Street and only get in if he says yes. Alan

There is actually a fast track service as on one flight an announcement was made apologising for it not being available. Certainly the only time I've flown 1st Class to Bangkok (BA) I had to make my own way to Immigration and wait in a lengthy queue. Then when I got down to the baggage carousel, it was jammed so tight with cases that you couldn't get anymore on! Even though I had bits of string tied to my cases it took bloody ages to find them. On my return journey to the UK, I was escorted from Check In through Immigration (no waiting in line ) and to the QANTAS lounge. Alan