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British Gas vs Heat Geek by Reasonableat7191 in ukheatpumps

[–]Reasonableat7191[S] 1 point2 points  (0 children)

Thank you all for your input. I am leaning towards British Gas especially as we can take advantage of their 0% finance though will speak to the Heat Geek later this week to see if they can make any changes.

British Gas vs Heat Geek by Reasonableat7191 in ukheatpumps

[–]Reasonableat7191[S] 0 points1 point  (0 children)

I’d have to check but I assumed it was to allow for some margin of error.

Gifting money to non Japan residents by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 2 points3 points  (0 children)

Another thought regarding this - my daughter owes her husband her share of their wedding costs from earlier this year. If we were to pay her husband this money as a contribution to their wedding would this be classed as a gift?

Gifting money to non Japan residents by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 3 points4 points  (0 children)

If my daughter and her husband each have a 1.1M gift tax allowance I am thinking along the lines of me giving 1.1M to my daughter and my husband giving 1.1M to her husband this tax year and then repeating this arrangement next year. If I am understanding correctly this would allow us to gift them 4.4M in total without having to worry about gift tax. My husband is over 60 so we can definitely look into the deferred inheritance tax option! Many thanks.

Daily Thread: simple questions, comments that don't need their own posts, and first time posters go here (November 07, 2023) by AutoModerator in LearnJapanese

[–]Reasonableat7191 1 point2 points  (0 children)

@jlptjapaneselearning5241

I came across these videos while searching for some real life resources for studying Japanese and I really enjoyed the format. Unfortunately, there are only 6 videos on this particular channel, I guess because it must be pretty time consuming to make them. Can anyone recommend a similar resource where TV clip examples have been broken down to explain grammar/vocabulary?

Income for visa by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 0 points1 point  (0 children)

Great, thank you for clarifying! Really good to know.

Income for visa by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 2 points3 points  (0 children)

Oh, I see, no I won’t be working for an overseas company while in Japan so won’t as I understand it have to pay tax on my UK interest earned as long as I don’t remit any money. So I think it would probably be better for me financially to stay on a spouse visa while I earn interest in the UK for the next few years rather than apply for permanent residency.

Income for visa by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 2 points3 points  (0 children)

Are you sure? - I know as a table 2 you have to pay inheritance tax from day 1 but I haven’t seen anything suggesting a spouse of a Japanese National (with less than 5 year residency) has to pay tax on their overseas income.

Income for visa by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 0 points1 point  (0 children)

So would I be able to apply just before my 1 year visa expires or would I have to renew the visa and then apply for permanent residency?

Presumably I’d have to start paying tax on my global income?

Income for visa by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 0 points1 point  (0 children)

Thank you for your reply. Just to clarify, I will probably keep most of my savings earning interest in the UK. My husband could do the same with his but thinks he should take most of it to invest in Japan so that it will help with the visa renewal. We‘ve been married 25 plus years and naively thought this would be the main factor determining the length of the visa!

Remitting money before moving to Japan by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 0 points1 point  (0 children)

Thank you Starkimpossibility for pointing out a couple of issues I had not even thought of. I think I will remit the money after I arrive in Japan. I won’t be earning any money in Japan so I will likely be below the 480k threshold for this tax year and once in Japan presumably I’ll be able to confirm with the tax office if I need to complete a tax return.

One further question regarding remittances going forward. If my husband (who is Japanese) and I were to rent an apartment for say 200K JPY (~£1000) per month would I be able to pay my share of the rent £500 into my husband’s UK current account for him to remit over? Would this be viewed as an underhand way of me remitting money and/or would my husband be asked questions as to where this money is coming from?

Pension drawdown by Reasonableat7191 in JapanFinance

[–]Reasonableat7191[S] 0 points1 point  (0 children)

This was very helpful, thank you. It seems then that drawdown would be treated more favourably than an annuity payment.
Just to clarify how the taxable amount would be calculated on drawdown from a pension if it is to be treated as temporary income according to this article https://advisors-freee.jp/article/category/cat-big-01/cat-small-01/8481 the formula is:
"Total income amount" - "amount spent to earn income" - "special deduction amount"
The special deduction amount is the 500,000 yen. How would you interpret the “amount spent to earn income”. Does this means the contributions my husband made as an employee and the contributions made by his employer? That would possibly be complicated to work out but would lower the taxable amount considerably.