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Bringing money from overseas into UK
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voyagerbear
Posts: 85 Forumite
in Cutting tax
If you are an expat and have a savings account overseas, and then move back to UK. What is the most tax efficient way of bringing the money to uk?
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Difficult to say as you can simply withdraw the money without any tax implications at all.
Why do you think that there would be a charge to tax?0 -
voyagerbear wrote: »If you are an expat and have a savings account overseas, and then move back to UK. What is the most tax efficient way of bringing the money to uk?
If you remit all funds before you become UK-tax resident again (check the Statutory Residence Test to see if you qualify for a 'split year' - I'm assuming you're not currently UK-tax resident) then you should avoid any issues around taxable remittances. Wait until after you're tax resident in the UK then it becomes more complex.'I want to die peacefully in my sleep, like my father. Not screaming and terrified like his passengers.' (Bob Monkhouse).
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