Euro transfer to Uk Law & Fees
 

I hope someone can point me in the right direction, my mother in law would like to transfer 100000 euro to my from her Italian account to my UK account, but she is worried about bank fees for the transfer but also any legal or tax issues with transfering a large sum of money out of the country, does anybody have any experience or advice,

Tha Italian bank said just send 2 x 50,000 but a friend said 10 x 10,000 over 2 weeks to avoid any additional cost ??

confused.com

thanks for looking
NrG

Re: Euro transfer to Uk Law & Fees
 

Regarding the tax issues, you may want to have a look at this:

http://www.repubblica.it/economia/20...isco-26902292/

Re: Euro transfer to Uk Law & Fees
 

Depends on the bank. Some banks have a set charge for up to 50 thousand with a percentage fee for larger figures. In that case it is worth sending it in 2 49.999 lots. Don't see what the 10.000 figure has going for it.
As it will be a bankt rasnfer it is all traceable and completely legal (perhaps the 10.000 one is because thats the limit on cash being brought in and out of Italy).