IoM Teachers 'worst off' in British Isles

[ballaughbiker]

Correct Tibet.

Yet a Manx resident has a UK married persons allowance of £23,000. That seems to me to be the whole basis of the problem.

If the PSPA still allowed the mythical pension pot to follow the retiree back to the UK, none of this would matter. It is because they chose to permanently seize it a few years back and I know that is one of the reasons we have trouble with recruitment.

Edit : That quote of mine in your last post is taken from two different paragraphs in my earlier post and the second sentence in it (relating to UK taxation) does not go with the first (relating to Manx taxation). 

[Expatriate]

18 hours ago, Stu Peters said:

Because the majority of the UK is a festering shit hole full of deadbeats, criminals and feral yoot with a lower quality of life...

'The majority'. Where then?

[woolley]

5 hours ago, Tibet said:

True, but a non-resident personal allowance is £0.

And other posts.

Surely all of this is wrong.

See thee:

https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/personal-tax/non-residents/non-resident-pensioners/

UK resident receiving an Isle of Man pension

The UK agreement includes the following provision: 'Pensions and other similar remuneration paid to an individual who is resident of one of the territories shall be taxable only in that territory'.

This means that Isle of Man occupational pensions set up by private employers, personal pensions and group personal pensions paid to UK residents will be taxable only in the UK.

This provision also applies to pensions paid by the Isle of Man government to individuals who are resident and ordinarily resident in the UK.

Individuals should complete the claim form and submit it to HMRC in the first instance in order for UK residency to be confirmed. The completed form should then be submitted to the Isle of Man Income Tax Division. If the claim is successful then future pension payments will be made without the deduction of Isle of Man income tax and any tax deducted since 6 April 2009 will be refunded in due course.

[Tibet]

I hope you're right, but again we're still only talking about the UK here. There are around 194 other countries in the world beside the UK.

[Stu Peters]

7 hours ago, Expatriate said:

'The majority'. Where then?

Based on 43 years of living there, I'd suggest all of the cities and most of the towns.

[ballaughbiker]

Thanks for that clarification woolley.

I can only live in hope that the present UK arrangement finally extends to my chosen destination which atm it doesn't so tax still appears to be payable twice as per my paid advice.If it is, then Manx tax at 20% with zero personal allowance is still stopped.

Incidentally, I have recently had some dealings in Spain and they really do seem to see us as some archetypal 1970s dodgy tax haven and apply sanctions as a result.

[Phillip Dearden]

2 hours ago, ballaughbiker said:

Thanks for that clarification woolley.

I can only live in hope that the present UK arrangement finally extends to my chosen destination which atm it doesn't so tax still appears to be payable twice as per my paid advice.If it is, then Manx tax at 20% with zero personal allowance is still stopped.

Incidentally, I have recently had some dealings in Spain and they really do seem to see us as some archetypal 1970s dodgy tax haven and apply sanctions as a result.

It's not unreasonable that IOM would want to tax a pension paid from the IOM, on which contributions have been deducted for tax purposes and which is funded by the IOM taxpayer.

Nevertheless, there are options. I doubt the IOM will be able to extend its network of DTAs - other countries tend not to agree tax-treaties with "low-tax areas". But some countries do give credit for foreign taxes without a DTA - this would need to be checked with a French tax advisor. A quick search shows that France does acknowledge this concept but whether it is available in this case is a tricky question and would need the advice of a French tax specialist. If not, it may be possible to move the pension fund to a place with a suitable DTA - again tricky stuff and proper advice needed.

Failing that, choose another location.

 

[notwell]

8 hours ago, ballaughbiker said:

Thanks for that clarification woolley.

I can only live in hope that the present UK arrangement finally extends to my chosen destination which atm it doesn't so tax still appears to be payable twice as per my paid advice.If it is, then Manx tax at 20% with zero personal allowance is still stopped.

Incidentally, I have recently had some dealings in Spain and they really do seem to see us as some archetypal 1970s dodgy tax haven and apply sanctions as a result.

Well you need to choose your country carefully.

Quite why anyone feom here would choose to become resident in France or Spain amd then moan about their tax system would mystify me.

[ballaughbiker]

It's not the destination tax system they are moaning about. It's this one!

[Expatriate]

15 hours ago, Stu Peters said:

Based on 43 years of living there, I'd suggest all of the cities and most of the towns.

Let me get this straight then, you're not saying that parts of UK cities and towns are 'festering shit holes full of deadbeats, criminals and feral youths', much like, say, parts of Douglas are festering shit holes etc etc, you're saying all UK cities and most UK towns are all, without exception, in their entireties, festering shit holes. (You're section on their alleged lower quality of life for the people who live there compared to the Isle of Man is redundant, given your view that they are all festering shit holes they must have a lower quality of life living as they do in festering shit holes full of criminals etc etc). Had you said that the Isle of Man is a fine place to live although not without it's own patches of shitholery, as are thousands of other places in the British Isles I could have agreed with you, but given the extraordinary stupidity of you characterising an entire country as you have, compared to your pleasant enough but little wind swept outcrop in the Irish Sea, I'll have to disagree. I wouldn't want to be associated with such a backward way of thinking. How the fuck you managed to spend forty three years living in a country and learn nothing about it other than its all a shithole says more about you than it does the UK.

[ballaughbiker]

Quote

It's not unreasonable that IOM would want to tax a pension paid from the IOM, on which contributions have been deducted for tax purposes and which is funded by the IOM taxpayer.

Fair point unless, say, they had worked across for most of their career and them come here with the majority of their pension for a few years and then thought * this weather, I'm off to Spain or wherever when I retire! 

That too is hardly unreasonable. 

 

[notwell]

10 minutes ago, ballaughbiker said:

It's not the destination tax system they are moaning about. It's this one!

I struggle to see how people can genuinely moan really.

 

[ballaughbiker]

I'm sure you would moan if you also paid tax here on your marooned pension when you no longer lived here.

 

[notwell]

22 minutes ago, ballaughbiker said:

I'm sure you would moan if you also paid tax here on your marooned pension when you no longer lived here.

 

Well if someone chooses to leave etc.

Plus you had tax relief on those contributions.   And in the case of many no doubt they're well pensioned civil servants who paid very little.

[Aristotle]

48 minutes ago, notwell said:

I struggle to see how people can genuinely moan really.

 

You're obviously not doing it right. Have you asked your doctor about viagra?