Overseas (New Zealand) venture has sold - how to handle my payment

New Post Advanced Search

Coronavirus: The latest from MSE

The MSE team is working extremely hard to keep the info we have about your travel rights, cancellation rights, sick pay (and more) up to date.
The official MSE guides: NEW MSE Coronavirus Guides


Overseas (New Zealand) venture has sold - how to handle my payment

2 replies 71 views
EvadeEvade Forumite
8 posts
Fourth Anniversary First Post
MoneySaving Newbie
I co-founded a tech company in New Zealand five years ago. I quit the company before all my options vested. After a number of investment rounds, I was left with a small percentage. The venture has now sold as an "asset sale". I will be due a mid five figure sum in Gbp. I am working PAYE in the UK and have been for some years. I am a UK citizen, with indefinite leave to remain in NZ. I am in the higher rate UK tax band. 
I have two questions. 
First, what is the best thing to do re tax on this income? Do I have any options or choices to make? 
Second, what is the best thing to do with moving the money? I do not have a New Zealand bank account. 
The amount involved could warrant a trip to New Zealand in order to set anything up if necessary - plus we've been looking for an excuse to go back. 
Thanks for any help.


Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support