Investments Abroad

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Brenda_Koranyi
Brenda_Koranyi Posts: 1 Newbie
in Savings & investments
I have an endowment policy in Germany which is coming to fruition in April and want to know if I should leave the money in Euros in my German bank account or transfer it to British Pounds to my English bank account? I now live in England.

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  • Aegis
    Aegis Posts: 5,688 Forumite
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    Depends on a few things, not least of which are your domicility and the amount of the investment. If you aren't planning on staying in the UK long term and are still German domiciled, then there may be advantages to keeping the money offshore.

    If it's a large amount, speak to a tax specialist before bringing the money to the UK.
    I am a Chartered Financial Planner
    Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.
  • Cook_County
    Cook_County Posts: 3,085 Forumite
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    Don't forget if it has run for less than 20 years you will have a UK tax liability on maturity if it has grown in value.
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