Implications of bringing money INTO the UK?

Darkhawk

Hello everyone!

I'll soon be going abroad for a short while to sell off the property I had there, the money I will receive will be taxed by the Government of THAT country.

I hope to use this money as a deposit towards getting a mortgage for a house here as I believe I have been renting for long enough.

I would like to know if I will face any difficulty bringing this money here? For example:

1. Would I have to pay income tax here in the UK even though this income is already taxed, albeit from elsewhere.
2. Is there a cheap/free way to directly transfer the money from there to here?

This matter is very serious and I am a bit confused by it all so I would be extremely thankful if you could help :money:

vietnamsavings

Try contacting Moneycorp or someone similar. Where is the money, we did a Lloyds Spain to Lloyds Uk transfer of 120k with no fees a few years ago.

Any

This issue has nothing to do with savings, I suggest you post it on Cutting Tax board, because what you need is a tax advice.
Also I would add which country.

I am assuming you are resident in the UK? You pay your taxes here?
What was happening with the property until now?
Was it rented out?

Because that all has tax implications... or not. More info required basicaly.

To provide which country is important due to possible double taxation treaty and it changes the advice you will be given.

Any

By the way the tax on selling a property is not income tax, but capital gains tax..
You get separate tax free allowance for that from your income tax personal allowance, so profits in numbers would be good to add too.