It's official, I'm fucking off

[No One]

I'm flying out on the 2nd. House is all packed up and cleaned, hope I get my deposit back in full. 

Selling the cheap banger, and SORN the other car for long term storage.

 

This move could go either way, maybe it doesn't work out and I'll be back in 2 months with my tail between my leg, who knows. 

My main thing now is to fill my ISA before I leave.

[Castlevania]

Where are you off to?

[No One]

Vietnam

 

A communist country, with a top rate of tax that is lower than this one by 10%.

I'll write about my experience here going forwards.

[Errol]

Good luck!

[Frank Hovis]

Wow.

I hope it goes brilliantly for you @No One

[Andersen]

Well done for commitment - hope it all works out for you and keep us updated  

Moving out of the UK is something a lot of people talk about but very few go ahead with, guaranteed it will be an adventure for you 

[Calcutta]

Always remember the prophecy.

"If it floats, fucks or flies,

It's better the rent than to buy."

Enjoy!

[spunko]

Good luck with it, and look out for the crazy humidity/heat, it doesn't get mentioned much but I hear it's pretty bad in that part of the world at times.

I know someone who did the same, moved to Vietnam from Manchester for about 10 years. He decided to move back to Blighty in the end, but his hand was forced  (Vietnamese wife divorced him). It's probably different now, but several years ago he reckoned you could live like a king on £10 a day there.

 

[Mandalorian]

20 minutes ago, spunko said:

 he reckoned you could live like a king on £10 a day there.

 

Did he ever have a frog for an avatar?

[sancho panza]

2 hours ago, No One said:

Vietnam

 

A communist country, with a top rate of tax that is lower than this one by 10%.

I'll write about my experience here going forwards.

good luck,I'll write some malta posts when we land in country in sept

[working woman]

Good Luck, for the last few recent winter holidays we have been to Malaysia - love it there. Next on my wish list is Vietnam. I met a couple of Brits in Malaysia who were teaching in Vietnam they loved it. Said less developed and a lot cheaper. They travelled throughout Asia from there.

Enjoy the food.I love Asian food.

Hope you will check back in and let us know how you get on.

How have you managed to get there? Work visa? Extended tourist visa? How long do you plan to be there?

Re The Heat - I remember my first tropical rain storm on my 1st day of holiday.

Around 3-4pm, the heat built up and up, becoming unbearable. You could see the rain clouds forming around the tree covered hills in the distance. It got to a point where I said to my husband, if it is going to be like this every day, I  am not going to be able to cope with this holiday. It was too much. No sooner had I said it then BOOM.  Big clap of thunder and the heavens opened. Once I knew that was how it worked every day I was ok as I knew the heat wasn't permanent. The rain then cooled everything down - bliss! So hope this knowledge helps make it bearable for you too.

My BIL got married in Thailand 12 years ago. In the evenings, when we sat outside at restaurants, I used to hang a folded up wet hanky around the back of my neck to keep cool. In bed at night, try a wet flannel folded on your forehead, or if lying on your side, move it around your body to cool off - shoulder, arm, torso, leg etc.

Once of my relatives was stationed in Malaysia in the 1950's in the Army. The wife used to go upto the Cameron Highlands as it was a few degrees cooler as she couldn't stand the heat. So, maybe look up where your nearest range of hills are to escape the heat if need be.

Edited June 30 by working woman

[working woman]

1 hour ago, sancho panza said:

good luck,I'll write some malta posts when we land in country in sept

Are you off to Malta. Ahhhhh, a lovely place to live. Lucky you..........

My Grandad got stationed there with the Army in the 1950's, my Mum was 9 and went to school there for a few years and my Aunty was about 20 and went with them. They all said it was the happiest time of their lives.

I went about 5-6 years  ago, with my Aunt in her 80's and cousins, to see where they lived etc. I have a photo of the family on Mehlia beach. I took the photo with me and me and the other family members had our photo taken on the exact same spot holding the photo. My Aunt learned how to rock n roll in the beautiful 5* Phoenicia hotel. So we went there too and I did rock n roll with her in the same ballroom, 60ish years later. A beautiful hotel.  There is a nice Radisson Blue hotel and the beach (Golden Bay) next to it comes alive in the evenings as families gather to have BBQs there. I recommend you do that one evening. It seems very family orientated there. Every day seems to be a saints day and they let off fire works in the morning. We went across to the smaller island of Gozo, which was fun but only had a few hours there. Would love to go back. 

Enjoy..... I hope you still have time to contribute to Dosbods.

[Upsettah]

Sweet, best of luck. At least you'll have freedom of speech in Vietnam, and be able to call out batty-boys, trannies and dykes for the deviants they are without having to worry about getting a criminal record for committing a 'hate crime'.

Fuck Anglos and fuck all kikes, man.  All the best!

 

[goldbug9999]

9 hours ago, No One said:

Vietnam

 

[wherebee]

11 hours ago, No One said:

I'm flying out on the 2nd. House is all packed up and cleaned, hope I get my deposit back in full. 

Selling the cheap banger, and SORN the other car for long term storage.

 

This move could go either way, maybe it doesn't work out and I'll be back in 2 months with my tail between my leg, who knows. 

My main thing now is to fill my ISA before I leave.

Be aware that some countries don't see an ISA as an equivalent tax qualifying investment so income may be treatable as taxable where you live, but not in the UK.

[desertorchid]

Best of luck buddy!

Been knocking about SE Asia for 20 years now. The vast vast majority of middle aged men find it paradise. The cost of living, beautiful local women, great food, great weather (if you like hot) and LOTS to do/explore. It only goes wrong when naivity leads to a) marrying the wrong type of local lady or b) following a path of never ending holiday of boozing. Many do end up leaving of course but nearly always a family/ female partner related need or issue requiring a return home. 90% do not!

[sancho panza]

8 hours ago, wherebee said:

Be aware that some countries don't see an ISA as an equivalent tax qualifying investment so income may be treatable as taxable where you live, but not in the UK.

yeah Im fully expecting to pay more tax in malta than I do here.I'll get ta x advice when I land but tax worldwide income unless you've got it shuffled up in a company or have non dom rules.

[Castlevania]

8 hours ago, wherebee said:

Be aware that some countries don't see an ISA as an equivalent tax qualifying investment so income may be treatable as taxable where you live, but not in the UK.

You have to be resident for this to apply or to be liable for any tax on foreign sourced income. So either move to a country which doesn’t tax foreign sourced income aka the equivalent of being a non-dom in the U.K. (there’s several to choose from) or split your time between a few countries (become a resident of nowhere for tax purposes).

[wherebee]

8 minutes ago, Castlevania said:

You have to be resident for this to apply or to be liable for any tax on foreign sourced income. So either move to a country which doesn’t tax foreign sourced income aka the equivalent of being a non-dom in the U.K. (there’s several to choose from) or split your time between a few countries (become a resident of nowhere for tax purposes).

thats increasingly hard - a number of countries have started to say if you're not resident anywhere, you're ours....

[Axeman123]

1 hour ago, Democorruptcy said:

Yes, good luck trying to be a tax resident of nowhere.

Its still doable AIUI, but needs a great deal of care. The big gotchas in those links are

• UK will deem you resident just on the basis of the greatest number of days in the tax year being spent in the country, even if otherwise under the relevant number.
• Some places where income arises will tax non-residents unless a dual taxation treaty applies.

It could be as simple as

• Rent a flat in Kuala Lumpur year round (cheap) and use the address for banking etc. Spend 2x 90 day stamp on arrival periods there per year. Non tax resident there = present <182 days in a tax year.
• Bank in Singapore but spend no real time there. Non tax resident there = <183 days in a tax year and they aren't out to catch you out with their rules.
• Split the remaining days between other countries in the region with a laid back approach to visas (Philipines/Vietnam for cheap, Japan/Korea but expensive).
• Visit the UK sparringly, if at all.

What likely trips people up is splitting their time between a large number of countries and taking the maximum number of days back in the old country resulting in actually spending the greatest number of days there. The other trap would be keeping investments there.

 

 

[Axeman123]

3 minutes ago, Democorruptcy said:

Bank in Singapore? They joined the Common Reporting Standard. They also have a Competent Authority Agreement with the UK.

Whats the problem there though? CRS is just banks telling any country that might have a tax claim on income or assets about it and tracking the source of said assets - it doesn't change the underlying liability to tax. CRS AIUI only really stops people hiding money offshore and bringing money previously hidden in that way back within the system without paying back taxes on it.

In my above scenario the Singaporean bank hypothetically notifies the UK of my investment income, both because of the passport and historical residency: The UK checks passport records and deems "not resident in the tax year, no tax to pay". The Singaporean bank also hypothetically notifies Malaysia on the basis of my keeping a home there, who also check their immigration records and deems me "not resident in the tax year, no tax to pay".

[Castlevania]

34 minutes ago, Democorruptcy said:

Bank in Singapore? They joined the Common Reporting Standard. They also have a Competent Authority Agreement with the UK.

Where are you going to shift all your investments from the UK?

The U.K. only taxes U.K. assets. Dividends from foreign shares are exempt. No CGT is payable on anything purchased and sold when not residing in the U.K. 

[wherebee]

59 minutes ago, Castlevania said:

The U.K. only taxes U.K. assets. Dividends from foreign shares are exempt. No CGT is payable on anything purchased and sold when not residing in the U.K. 

not entirely true.

if you die whilst a brit, there are some sneaky clauses to get some of your moolah held offshore.

[Axeman123]

20 minutes ago, Democorruptcy said:

Singapore has to establish the tax residency of anyone who has an account there. I'm not convinced 'nowhere' is an option.

If that Nomad Capitalist guy is right a "home" in Malaysia with evidence you actually live there substantially* for part of the year will satisfy the requirement, even if you aren't actually there enough days in any given tax year to actually be tax resident.

Banks generally will share CRS data with any country that might have a tax claim on you anyway to cover their arse AIUI, so their concern is that you could be secretly living full time in a high tax country like say France or Canada and lying when you say "no fixed abode" which would put them in the shit for not sharing the data with that country. You probably would want to initially tell them you would be full time in Malaysia, and if they checked your days in country later on describe your time elsewhere as "holidays".

*Long term rental contract, utility billls, history of associated local ATM or debit card use.

[Funn3r]

18 hours ago, goldbug9999 said:

 

That scene was filmed in Isle of Dogs, London.