Penang Advice

Old Jan 26th 2014, 12:26 pm
  #16  
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Default Re: Penang Advice

Originally Posted by roystevenung
Is it at Tambun? That is where most people go for somewhat cheap and fresh seafood. Although the prices has been going up steadily over the years, it is still being flocked by people from outstation.


Yes it is Tambun.
My wife checked through her notes and found the receipt dated 2006.
She loves keeping stuff like that.

Funny thing is looking at Google earth I can't really see anywhere in Tambun that the restaurant might be.
Has it been pulled down since we were there and isn't on the latest Google Earth????
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Old Jan 26th 2014, 1:27 pm
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Default Re: Penang Advice

Originally Posted by ex reg
Yes it is Tambun.
My wife checked through her notes and found the receipt dated 2006.
She loves keeping stuff like that.

Funny thing is looking at Google earth I can't really see anywhere in Tambun that the restaurant might be.
Has it been pulled down since we were there and isn't on the latest Google Earth????
Tambun is still there. There are a few restaurants in Tambun that serves the freshest and succulent sea produce at reasonable price.

Just avoid it during CNY

But of course, 2006 the price was definitely much cheaper as compared to today
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Old Jan 29th 2014, 5:55 pm
  #18  
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Default Re: Penang Advice

Hi again all, just another quick question. What are the tax implications of moving money from Malaysia to the UK? Would I be liable for both Malaysian and UK income tax or is there and agreement like between the UK and Australia?
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Old Jan 30th 2014, 12:53 am
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Default Re: Penang Advice

Originally Posted by DanSolihull
Hi again all, just another quick question. What are the tax implications of moving money from Malaysia to the UK? Would I be liable for both Malaysian and UK income tax or is there and agreement like between the UK and Australia?
What sort of money? Is it income from employment? If so, that will depend on your employment status. If it's your own money and you are resident here, then there shouldn't be any - Malaysia treat it as offshore, and not taxable. I did think my UK pensions would also be treated as offshore in the UK even though they are paid into a UK bank, but when I contacted HMC&E, they sent me a form and said they had to confirm that there is an agreement. I haven't done anything about that yet.
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Old Jan 30th 2014, 1:00 am
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Default Re: Penang Advice

Bluenose, you need to get something here in Malaysia to say you are tax resident here, then send that to HMRC. I know folks in Penang who have done this at the Penang tax office. Should work ok unless you are getting a government or forces pension when they tax it anyway.

Apologies to Dan for digressing
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Old Feb 2nd 2014, 8:22 pm
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Default Re: Penang Advice

Originally Posted by Bluenose1
What sort of money? Is it income from employment? If so, that will depend on your employment status. If it's your own money and you are resident here, then there shouldn't be any - Malaysia treat it as offshore, and not taxable. I did think my UK pensions would also be treated as offshore in the UK even though they are paid into a UK bank, but when I contacted HMC&E, they sent me a form and said they had to confirm that there is an agreement. I haven't done anything about that yet.
Yes income from employment, say I stay in Malaysia and manage to save money from my job then move back to the UK are there any UK taxes I will have to pay that I need to be aware of?
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Old Feb 2nd 2014, 9:35 pm
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Default Re: Penang Advice

Originally Posted by DanSolihull
Yes income from employment, say I stay in Malaysia and manage to save money from my job then move back to the UK are there any UK taxes I will have to pay that I need to be aware of?
Difficult question to answer straight off - there are a few variables, such as how long you are going to be working in Malaysia for? If you are employed by a UK company and being paid there, but working on a project in Malaysia for example, you will be taxed on your UK income and liable for income Tax in Malaysia too if you are here for more than a certain length of time (it used to be something like 180 days in any one tax year, they also look at both the previous tax year and the following one as well. But I am sure someone more knowledgeable can correct me if that is wrong now). If that is the situation then you should ask your employers about tax equalisation. When I worked on a project here in 2006, I was employed by a UK company, working on a project for a Dutch-owned global courier company, but because of the length of time I was here, I became liable for Malaysian tax for a whole tax year, even though my salary was remitted in the UK. My company bought in the services of, I think it was KPMG to calculate the tax equalisation and complete my Malaysian Tax Return as well as my UK tax return for the tax years in both companies.

If you are then sending savings back to the UK I wouldn't think there would be additional taxes. If you were to have your salary paid and remitted from the UK to Malaysia then I have no idea where your tax liabilities would fall - I think you would need to seek legal and fiscal advice for that!
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Old Feb 2nd 2014, 11:45 pm
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Default Re: Penang Advice

It used to be if you were qualifying for UK non residency or were non resident in the UK for tax purposes then if you were paid overseas then you were taxed in the country you worked and could remit to the UK whatever you wanted as it had already been taxed.
Any income earned in the UK, such as House rental, or investment income, was taxed in the UK even though you might be considered UK non resident for tax purposes.

Plenty of accountants in UK will give you advise on this.
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Old Feb 3rd 2014, 1:34 am
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Default Re: Penang Advice

Originally Posted by ex reg
It used to be if you were qualifying for UK non residency or were non resident in the UK for tax purposes then if you were paid overseas then you were taxed in the country you worked and could remit to the UK whatever you wanted as it had already been taxed.
Any income earned in the UK, such as House rental, or investment income, was taxed in the UK even though you might be considered UK non resident for tax purposes.

Plenty of accountants in UK will give you advise on this.
That's how it was when I expatriated. I worked in Hong Kong for 16 years and paid salary tax (not income tax) in Hong Kong at 15%, and nothing to the UK.
I did keep up the voluntary NI contribution and now receive the OAP tax deducted
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Old Feb 14th 2014, 11:56 pm
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Default Re: Penang Advice

Just another quick question: the prospective employer in Malaysia has said that when I start work I will need to give them my passport for a couple of weeks in order to get the work visa sorted and once it is sorted I get given it straight back. Is this standard practice?
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