tax implications for delaying exchanging pounds for dollars
Feb 21st 2010, 9:04 pm
#1
Just Joined
Thread Starter
Joined: Feb 2010
Posts: 3
tax implications for delaying exchanging pounds for dollars
Hi, What are the tax implications for delaying exchanging pounds for dollars? Obviously the exchange rate at the moment is not at all favourable and it would therefore make sense to delay buying into the aussie dollar until a significant improvement (whenever the hell thats going to happen?!!) is seen. How long can you wait to exchange before the taxman comes knocking after entering the country? Is it classed as capital gains tax and what is the rate? Thanks!
Feb 21st 2010, 9:21 pm
#2
Retired
Joined: Apr 2004
Posts: 34,649
Re: tax implications for delaying exchanging pounds for dollars
Identical question here, read the discussion.
http://britishexpats.com/forum/showthread.php?t=653881
Why do you assume the exchange rate is bound to come back? If the British government doesn't get a grip on the deficits, sterling may fall a lot further.
http://britishexpats.com/forum/showthread.php?t=653881
Why do you assume the exchange rate is bound to come back? If the British government doesn't get a grip on the deficits, sterling may fall a lot further.
Feb 22nd 2010, 7:05 am
#3
BE Enthusiast
Joined: Sep 2008
Posts: 484
Re: tax implications for delaying exchanging pounds for dollars
Course it will go back. look at the record over the past 20 yrs. Peaks and troughs. peaks and troughs. It may not get back to what it was but we could do without the drama queens on here. We are not Zimbabwe ;-)
