Frozen UK Pensions

Old May 22nd 2008, 5:20 am
  #31  
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Default Re: Frozen UK Pensions

[QUOTE=katongkaren;6374640]
Originally Posted by ray2gill


well spelt out - thank you. Sorry I've probably misled re frozen private pensions. These are old private pensions I used to pay into in the UK and are now termed as "frozen" since I am no longer in the UK.

Re domicile, you are probably right and maybe it's because I will not be going back to the UK, alive or dead which takes me out of their hands.
Non resident and domicile are confusing to most people. The UK tax man has first call on all worldwide assets of a UK citizen under inheritance tax laws. You are only non domiciled if you have challenged the tax authorities in a tax and they have conceded non dom in writing. This is significantly more difficult than Cherie Blair walking past an estate agents window without looking in. I have known people fight for 19 years!! You must have nothing in the UK, no banks, no properties, no business interests, NOTHING.
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Old May 22nd 2008, 5:23 am
  #32  
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Default Re: Frozen UK Pensions

[QUOTE=John0956;6378502]
Originally Posted by katongkaren
Non resident and domicile are confusing to most people. The UK tax man has first call on all worldwide assets of a UK citizen under inheritance tax laws. You are only non domiciled if you have challenged the tax authorities in a tax and they have conceded non dom in writing. This is significantly more difficult than Cherie Blair walking past an estate agents window without looking in. I have known people fight for 19 years!! You must have nothing in the UK, no banks, no properties, no business interests, NOTHING.
You should be highly suspicious of foreign lawyers advising you on your UK tax position. They are normally only experts on their own.
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Old May 22nd 2008, 7:41 am
  #33  
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Default Re: Frozen UK Pensions

[QUOTE=John0956;6378502]
Originally Posted by katongkaren
Non resident and domicile are confusing to most people. The UK tax man has first call on all worldwide assets of a UK citizen under inheritance tax laws. You are only non domiciled if you have challenged the tax authorities in a tax and they have conceded non dom in writing. This is significantly more difficult than Cherie Blair walking past an estate agents window without looking in. I have known people fight for 19 years!! You must have nothing in the UK, no banks, no properties, no business interests, NOTHING.
That was indeed my understanding also.
Can you please tell me the current Inheritance Tax ceiling
below which you are not taxed.
Thanks
Roger
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Old May 22nd 2008, 7:45 am
  #34  
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Default Re: Frozen UK Pensions

[QUOTE=Roger13;6378838]
Originally Posted by John0956
That was indeed my understanding also.
Can you please tell me the current Inheritance Tax ceiling
below which you are not taxed.
Thanks
Roger
The "Quotes" on this Forum are Confusing
Something written by John >
"Non resident and domicile are confusing to most people. The UK tax man has first call on all worldwide assets of a UK citizen under inheritance tax laws."
seems to have been attributed to katongkaren !!!
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Old May 22nd 2008, 9:20 am
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Default Re: Frozen UK Pensions

[QUOTE=Roger13;6378838]
Originally Posted by John0956
That was indeed my understanding also.
Can you please tell me the current Inheritance Tax ceiling
below which you are not taxed.
Thanks
Roger
Individual £300000, couple £600000, rising to £350000 and £700000 in 2010
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Old May 22nd 2008, 11:47 am
  #36  
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Default Re: Frozen UK Pensions

Originally Posted by Old Lob
Sorry - you are naieve! You are just whinging about the state system providing for others and not yourself. You are just whinging because you can't go to Mexico!!
We should all relax on the subject of frozen pensions, the end may be in sight.In 2005 a British pensioner, resident in Canada, took the UK government to the European Court of Human Rights on this issue. EHCR usualy takes 2 to 3 years to make a decision. Could be this year. The UK is expected to lose. It is almost unthinkable that the EHCR will allow the UK government to discriminate against some of its EU citizens in this way when every other EU country pays in full.
The whole principle is nonsense as is the UK governments arguments. The funding requirement to uprate all pensions is an additional £400 millions from the NI fund. The fund currently, April 08, holds $43.8bn. Actuaries say that to meet its commitments it needs £11.7bn. It is in "surplus" to the tune of £31.6bn. This is a shabby decision by a shabby government led by a shabby man.
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Old May 22nd 2008, 7:34 pm
  #37  
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Default Re: Frozen UK Pensions

Originally Posted by John0956
We should all relax on the subject of frozen pensions, the end may be in sight.In 2005 a British pensioner, resident in Canada, took the UK government to the European Court of Human Rights on this issue. EHCR usualy takes 2 to 3 years to make a decision. Could be this year. The UK is expected to lose. It is almost unthinkable that the EHCR will allow the UK government to discriminate against some of its EU citizens in this way when every other EU country pays in full.
The whole principle is nonsense as is the UK governments arguments. The funding requirement to uprate all pensions is an additional £400 millions from the NI fund. The fund currently, April 08, holds $43.8bn. Actuaries say that to meet its commitments it needs £11.7bn. It is in "surplus" to the tune of £31.6bn. This is a shabby decision by a shabby government led by a shabby man.
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Old May 23rd 2008, 4:25 am
  #38  
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Smile Re: Frozen UK Pensions

Just looked at the petiton which now stands at 1,518 signatures. The deadline is the 11th July so we need to get as many people to sign as quickly as possible.

Many thanks to all those of you who have responded and signed. Let's hope that if we keep chipping away at the government things will change.
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Old May 23rd 2008, 9:48 am
  #39  
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Default Re: Frozen UK Pensions

[QUOTE=John0956;6378508]
Originally Posted by John0956
You should be highly suspicious of foreign lawyers advising you on your UK tax position. They are normally only experts on their own.
Well our Singaporean lawyer (for Singapore assets) was trained in the UK. The Thai lawyer already advised that he is only eligible to advise on Thai matters. We were previously tax-resident in Singapore last 2 years. I agree with other poster, it's a complex matter it seems. I doubt I'd find a reputable UK lawyer in Phuket anyway
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