British Expats

[stevewool]

Others may join in this too, but i am asking a question for the Brits who have made the move to the Phils and is drawing a a pension,

Do you have to fill in a tax return or are you not making enough to pay any sort of income tax,

The limit is £10500 you may receive before paying income tax , so do you make sure that is all you get or are you lucky enough to get anything near that amount too,

What i am trying to sort out is what income i may have coming in each month if i say sod work and take the plunge, 

With the new changes happening next April with pensions this could be the time to say good bye England hello Bohol,

[Jack Peterson]

450

Do you have to fill in a tax return or are you not making enough to pay any sort of income tax, The limit is £10500 you may receive before paying income tax ,

 

 

 Hmmmmmmmmmm loaded Question.

 

Actually the Current exemption ( tax Free Allowance is 9450) providing you were Borm after 1950 and I guess you were.

So your Full pension will be at a tax Code number of 945. Now if you have a private Pension, Tax will be taken at 25%. if you receive over and above that figure per year So to Answer you Question. If your Government pension is below 9450 per Year, you do not need to do a tax Return BUT If any and all pension exceed 9450 per year you will be taxed at 25% on amounts received over that amount So you should complete a tax return ( Which can be downloaded ) { But must be returned by Snail mail or Courier]

 

 Basically my friend, the system is the same as PAYE The Allowance of your your pension is the code Number they will Use. Get Anything over this and it WILL be taxed at 25%. To be safe  Inform Newcastle where you are and what you Intend to DO. As with Most Countries tax System You can not beat them. Added is an Email Address and Phone number for you use. Please use it and stay one Step Ahead.

 

Always Remember, to use Your National Insurance Number in all dealings.  I will just add, that the UK has a Full and working Agreement on Social Security matters as there has been no problem with my Pension or tax at all in 3 years. less the Heat Allowance and Xmas bonus, you will get the same as if you were in the UK with Increases each year.

 

 

JP

 

TVP.INTERNATIONALQUERIES@THEPENSIONSERVICE.GSI.GOV.UK

 

 

 

+44 191 287777

 

 

Ps Best of Luck

Edited October 18, 2014 by Jack Peterson

[stevewool]

JP, Thanks for the very quick reply,

I will not be retiring till next year, i shall be 57 then  and all that i will be having as a income will be my private pension,and a little rent from my home, so that will be way below the threshold i will make sure  , plus saving but they are all in ISAs

[Methersgate]

Thanks JP. Am thinking along similar lines.

[pokermike]

i love to follow eveyone blogs but like a recent poster said it would be nice if everything was in pesos. us guys for the US to lazy to converte , it would be easy for you guys you work both types of currency. i would love to learn about other governments rules.      Poker mike

[sonjack2847]

450

Do you have to fill in a tax return or are you not making enough to pay any sort of income tax, The limit is £10500 you may receive before paying income tax ,

 

 

 Hmmmmmmmmmm loaded Question.

 

Actually the Current exemption ( tax Free Allowance is 9450) providing you were Borm after 1950 and I guess you were.

So your Full pension will be at a tax Code number of 945. Now if you have a private Pension, Tax will be taken at 25%. if you receive over and above that figure per year So to Answer you Question. If your Government pension is below 9450 per Year, you do not need to do a tax Return BUT If any and all pension exceed 9450 per year you will be taxed at 25% on amounts received over that amount So you should complete a tax return ( Which can be downloaded ) { But must be returned by Snail mail or Courier]

 

 Basically my friend, the system is the same as PAYE The Allowance of your your pension is the code Number they will Use. Get Anything over this and it WILL be taxed at 25%. To be safe  Inform Newcastle where you are and what you Intend to DO. As with Most Countries tax System You can not beat them. Added is an Email Address and Phone number for you use. Please use it and stay one Step Ahead.

 

Always Remember, to use Your National Insurance Number in all dealings.  I will just add, that the UK has a Full and working Agreement on Social Security matters as there has been no problem with my Pension or tax at all in 3 years. less the Heat Allowance and Xmas bonus, you will get the same as if you were in the UK with Increases each year.

 

 

JP

 

TVP.INTERNATIONALQUERIES@THEPENSIONSERVICE.GSI.GOV.UK

 

 

 

+44 191 287777

 

 

Ps Best of Luck

Hi Jack and  Steve

Snail mail is fine as you can do track and trace at the post office here and the last time I sent a tax return in it took 12 days and cost 100 peso. You can register to do it online but I prefer a paper trail after dealing with the taxman (as a self employed person) for the past 30 odd years. It`s all about proof with them and things can get all too easily lost on the internet.

[Jack Peterson]

it would be easy for you guys you work both types of currency. i would love to learn about other governments rules.    

 

Point taken PM but the OP here is asking about a Specific thing on UK Pensions and Tax. There can not in this instance be any use for a conversion to Peso as it would totally confuse the Issue. unless like me the UK pension is paid into a PI bank PNB. although I get paid out in Peso and the rate is damn Good ( 71.92 peso to Pound Sterling) as of yesterdays Pension Payment. of course I can Only talk about the UK but we all get the Same amount, based on Contributions paid in over 35 years. There is a Maximum to this.

 

Some may get additional monies from Age related premiums but in the main it is all the same amount. Again of course, many of us have Private and Military pensions, Which has to be reported for Tax Purposes. This will put many well above the tax free Allowance. So a Tax return must be done. For your own Good.

 

The OP's original Question was based on the  Basic Age Related Pension. So I kept it to that, Keeping it in Pounds Sterling for the exercise but would be more than willing to expand if anyone is so interested. I might Add that no matter when we retire we can't receive any Government Pension until we are 65 (if born prior to  April 1950) and 67( if born after April 1950)) I think I have those 2 (Two) dates right but will stand to be corrected.

 

Having looked into it a little Further I find that the 10.500 Tax Free Allowance mentioned is in fact, only given to those borne prior to April 1948, (damn, I miss by 20 days. DOB 19.05.48) so my Allowance as others of my Age and the month Factor for 1948 is 9,450 

 

 

:hystery:  All with me so far. Good. Although we Mock the sometimes unbelievable rules of the USA, we from the UK also have this very Tight but Good Pension System. Providing there is the SS Agreement with a country, we can Draw the pension  as if we were In the UK anywhere, in the World and we do not ever, have to go back to the UK for Any reason other than to Visit Family and Friends.  Proof of Life when required can be done by Affidavit ( Notorised ) or by our Embassy Warden. (this is a Quick and preferred way for the DHSS. ( UK Department of Health and Social Services) that oversees the Pension Service. and also the DWP ( the Main Department of Work & Pensions.

 

 

While I am here and it seems there is, a little Interest today, Providing the Marriage Certificate is lodged with the Registrars in the UK as an Overseas marriage, Your Wife will be entitled to a Widows pension, BUT and there is always a But. This Entitlement will cease at the end of March 2016 ( that is the End of the UK Tax Year.

 

So UK'ers go for it, those not Wed yet get Wed and Register the Marriage and ensure your Little Lady has a future when you are no longer around.

 

 

Morning All.

JP Phew, ready for a Coffee, :morning1:  :rolleyes:

[stevewool]

Registrars in the UK as an Overseas marriage, Your Wife will be entitled to a Widows pension, BUT and there is always a But. This Entitlement will cease at the end of March 2016 ( that is the End of the UK Tax Year. So UK'ers go for it, those not Wed yet get Wed and Register the Marriage and ensure your Little Lady has a future when you are no longer around.

 

Jack, forgive me if i am sounding silly here, but are you saying my Ems will be able to receive some sort of pension too,

I thought she would not be able to claim anything with these new rules coming in soon,

She has worked  for 4 years and has a private pension with the NHS which i must say is very very good, but i have read that you must have put in 10 years of working to receive a pension of any kind from the government, it use to be 7 years and we was going to wait for that date but i am not prepared to wait another 3 more years

[stevewool]

i love to follow eveyone blogs but like a recent poster said it would be nice if everything was in pesos. us guys for the US to lazy to converte , it would be easy for you guys you work both types of currency. i would love to learn about other governments rules.      Poker mike

I understand what you are saying , i find it interesting to convert the currency myself, and its frightening to see what a few more pesos to the pound or dollar can make to someones living

[Jack Peterson]

Jack, forgive me if i am sounding silly here, but are you saying my Ems will be able to receive some sort of pension too, I thought she would not be able to claim anything with these new rules coming in soon,

 

hmmmm Double post so knocked one off as best I could.

 

 

Jack, forgive me if i am sounding silly here, but are you saying my Ems will be able to receive some sort of pension too, I thought she would not be able to claim anything with these new rules coming in soon,

 

 

 Steve, a lot of these new rules are not actually in force and are Put out to frighten everyone. OK, now for you just at the present. because you are only 57 the 8 years may make a big difference as to what you or your Wife may get at that time, however, a lot also depends on Where you married, in the UK ? . if so, then a Widows Pension will always Follow Your Death but you do need to be coy and Try to maintain a UK Address. Married here, then you have until April 2016 to Register it at the CRO in the UK. I can't do too much today as it is Sunday but Tomorrow, I will get hold of My Contact at the DWP and do some Investigating for you to see what will be on offer to you as a 57 year old Also what requirements are needed For any NHS pensions. Payments. does she pay "A" Class or "B" class NI ?

 

Hang in there and lets see what we can Pull out of the bag for you. One Question though, have you been Fully Employed since you were19 years old ?

If So, you will just Scrape in for a Full pension at 67 even though you will not pay in any More NI when you come here. 

 

the Rules say 35 years and you have 38 ( If Fully Employed.)

 

 

JP

Edited October 19, 2014 by Jack Peterson