moving funds offshore back to uk

gpduffy

delete post

noh

Cheque, BACS or CHAPS or faster payments if the organisation offers them.
What other way would you do it that you consider "unsafe"?

DTDfanBoy

noh wrote: »

Cheque, BACS or CHAPS or faster payments if the organisation offers them.
What other way would you do it that you consider "unsafe"?

Stuffed under the back seat of his car probably

gpduffy

safe in that hmrc dont detect it

what other offshore options exist today in light of g8 arrangements for exchange of information?

grey_gym_sock

there's probably a site where you can discuss how to evade tax safely, but this isn't it. on the other hand, if you want advice on how to fess up, pay the tax you owe, and minimize the penalties, then this is site is a good place (though it would be best in the "cutting tax" forum).

dryhat

Bitcoin is your friend.

Instant transfer, practically zero fees and no need for any of your personal financial details to be revealed.

Archi_Bald

gpduffy wrote: »

safe in that hmrc dont detect it

The good news is they will catch up with smart alecs and conmen sooner or later. Even, or especially, those using Bitcoin.

SammenForLivet2

I don't know about Jersey, but if it's anything like the Isle Of Man, then all account information, with an account correspondence address in the UK, will be exchanged with HMRC upto 2001.

You can tell HMRC that you have money in Jersey and arrange to pay the amount owing, upto 2001 plus a penalty - the good news is you have to 2015 to do so, otherwise they will 'investigate'.

By the way, the only reason I know this is because I have colleagues who work for Standard Bank in the I.O.M and not because I hide money there (I don't have any money to hide :-)

Voyager2002

gpduffy wrote: »

safe in that hmrc dont detect it

what other offshore options exist today in light of g8 arrangements for exchange of information?

Money in the Channel Islands is just as visible to HMRC as money in the UK mainland. The HMRC website gives a list of countries that routinely exchange this kind of information with the UK (because if you get caught with funds in one of the countries that don't then the penalties are even higher). The countries that do not exchange information tend to places like Nigeria and Togo, with Cape Verde in a kind of in-between category.

As it happens, I still have a savings account in Benin. You are welcome to use it for your money, so long as I get half the interest the bank pays. Deal?

atush

HMRC will detect it, so go ahead, declare it and pay back interest.

gpduffy

I dont see why I should declare this

I chose offshore as the rates were good and i actually paid 35% retention tax which hmrc received

I want to keep this offshore though .. any ideas where to move it?