Can a resident UK PAYE employee be paid in to a non-UK bank account?

theblessedone

As the title suggests, would it be possible for a resident UK employee, to have their salary paid in to non-UK bank account?

eskbanker

Surely that's a question for the employer?

theblessedone

eskbanker said:

Surely that's a question for the employer?

Sorry, I should have said. I am asking from the perspective of the employer. 
If all PAYE commitments have been met, is the net sum free to go to any bank?

eskbanker

I'm not aware of any reason why that would be an issue from a UK tax or company law perspective but am not a lawyer!  If the employee contract stated a sterling salary but it was paid in a different currency then that could complicate matters, but if the employee formally accepts liability for any costs and exchange rate fluctuations (assuming the employer wouldn't wish to be on the hook for these) then this shouldn't be insurmountable....

colsten

I don't see why not. If using a bank, as opposed to an outfit like Transferwise, the recipient is likely to lose quite a bit to bad exchange rates and to fees. Also the receiving bank abroad might charge, and there could be delays due to x-border checks.

As an employer, I would want to stay clear of any such complications.

As an employee, I would want my money in a UK bank account and then decided myself how and when to transfer it.