British Expats - savings transfer temp

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wardy_1990

Dec 10th 2020 12:28 am

savings transfer temp

no one can see a legal issue with transferring money to Canadian savings account for a little while?
we plan to go back in 2021 but don't want to transfer it all till later but with brexit am
considering transferring at least half while the exchange is good.
if however we had a stonking offer here to stay we may send it back later, nothing dodgy is it?

cheers

scot47

Dec 10th 2020 1:11 am

Re: savings transfer temp

I do not understand this question.

Tangram

Dec 10th 2020 2:44 am

Re: savings transfer temp

No problem sending the cash and if needed sending it back again.

wardy_1990

Dec 10th 2020 2:47 am

Re: savings transfer temp

Quote:

Originally Posted by Tangram (Post 12944791)

No problem sending the cash and if needed sending it back again.

cheers mate

Hurlabrick

Dec 10th 2020 3:10 am

Re: savings transfer temp

Errrrr... yes, but you will of course have to report any gain made transferring the money back to the relevant tax authorities in you annual return as you will be liable for capital gains tax on any progot (and conversely, can offset other gains against the loss if that is what happens).

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