steven9818

Are there any significant issues doing this?
I will need to transfer money to my UK account each month to cover the mortgage and a few standing orders. Are there any UK tax implications or exchange rate issues I need to be concerned about?


Steven

Pollyana

No tax implications just for the transfer, its your own money after all. As far as declaring the mortgage and any rent on your tax return goes, I'll leave that for people more in the know!
Exchange rate issues, well those of us that have to move money regularly just have to suck those up and make the best of it

steven9818

Thank you for the reply. My only worry was that the UK taxman might decide he needs to tax it again and class it as overseas earnings!

Pollyana

The only reason it would be looked at in that vein is if you declare it as earnings on your tax return. If you are just moving a small amount each month then the UK tax office have no interest in it (no pun intended!) I've been moving money regularly for nearfly 15 years, no tax implications at all, the tax was paid at source when I earned the money in Aus.

steven9818

Thank you