Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

Taxing savings when returning to UK?

Taxing savings when returning to UK?

Thread Tools
 
Old Mar 27th 2010, 8:36 am
  #1  
Just Joined
Thread Starter
 
Joined: Apr 2004
Posts: 17
sparky12 is an unknown quantity at this point
Default Taxing savings when returning to UK?

Hello all

I was wondering whether people returning home to live in the UK from Oz would be taxed in the UK on any savings they bring back with them? I think the answer is no but would appreciate advice please.

Many thanks

Sparky 12
sparky12 is offline  
Old Mar 27th 2010, 8:48 am
  #2  
BE Forum Addict
 
Joined: Mar 2009
Posts: 1,289
ozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond reputeozhappy981 has a reputation beyond repute
Default Re: Taxing savings when returning to UK?

Originally Posted by sparky12
I was wondering whether people returning home to live in the UK from Oz would be taxed in the UK on any savings they bring back with them? I think the answer is no but would appreciate advice please.
[sigh] I really do not know why this is such a long-lived myth. Here are the answers for the umpteenth time:

No, you are not taxed in the UK on the savings you bring with you from Oz to UK.

No, you are not taxed in Australia on the savings you bring with you from the UK to Oz.
ozhappy981 is offline  
Old Mar 27th 2010, 9:03 am
  #3  
BE Forum Addict
 
Australia_bound?'s Avatar
 
Joined: Oct 2005
Location: In a house
Posts: 2,590
Australia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond reputeAustralia_bound? has a reputation beyond repute
Default Re: Taxing savings when returning to UK?

Originally Posted by ozhappy981
[sigh] you bring with you from Oz to UK.

No, you are not taxed in Australia on the savings you bring with you from the UK to Oz.
If it comes over when you do then fine, if you leave it in the UK waiting for the exchange rate to improve then there may be tax implications.
Australia_bound? is offline  
Old Mar 29th 2010, 8:57 pm
  #4  
Just Joined
Thread Starter
 
Joined: Apr 2004
Posts: 17
sparky12 is an unknown quantity at this point
Default Re: Taxing savings when returning to UK?

thanks for your help on this - much appreciated
sparky12 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.