|
Re: Sending money to the UK
Originally Posted by Millhouse
(Post 12737371)
Ain’t no higher fee than a zero fee deal. Are the global view FX rates worse (as I expect) than the exchange shops and if so, is any difference significant (%)? |
Re: Sending money to the UK
Originally Posted by ariskar
(Post 12737373)
Ahoy buddy, I was mainly asking about the exchange rates of HSBC Global View compared to exchange shops.
Are the global view FX rates worse (as I expect) than the exchange shops and if so, is any difference significant (%)? |
Re: Sending money to the UK
HSBC rates are terrible. I understand they are also negotiable, especially for large sums, but it's probably better to go to somebody who offers you a sensible rate in the first place rather than going through that. i.e. the exchange houses in the malls or specialist currency exchange firms.
|
Re: Sending money to the UK
Originally Posted by LouisKiddy
(Post 12740891)
I use Revlout App but not sure if it works in UAE.
|
Re: Sending money to the UK
I've been using UAE exchange till now but informed on Currency Fair app recently. Need to make my next transfer around 31st Oct so may move to Currency Fair.
Bank rates have generally been terrible for me and avoided it. |
Re: Sending money to the UK
Originally Posted by GolfGardener
(Post 12739506)
HSBC rates are terrible. I understand they are also negotiable, especially for large sums, but it's probably better to go to somebody who offers you a sensible rate in the first place rather than going through that. i.e. the exchange houses in the malls or specialist currency exchange firms.
The panic people have over transferring money cracks me up. |
Re: Sending money to the UK
Originally Posted by Scamp
(Post 12743195)
HSBC yesterday were 0.0102dhs difference to the spot rate.
The panic people have over transferring money cracks me up. |
Re: Sending money to the UK
Originally Posted by ariskar
(Post 12743224)
Thanks for sharing, that's the kind of information I was looking for. This figure would represent a 0.22% margin which is excellent in forex terms. Was that through Global View / Global Transfers?
|
Re: Sending money to the UK
UAE Exchange offer the best rates. If you transfer large amounts, you can also ask them to give you better rates. |
Re: Sending money to the UK
I vote UAE exchange. I have used other services, hell I even tried Revolut and the rates are similar to UAE exchange (so much for their disruptive fintech malarkey?!)
MoneyCorp etc are all a waste of time. Get your cheque book out and get down to UAE exchange. Done. |
Re: Sending money to the UK
May I clarify, if we remit our salaries back to the uk, we wont be taxed again in the uk correct? Thank you!!
|
Re: Sending money to the UK
Always best to seek tax advice, but assuming you are treated as non-resident by HMRC and the country of your residence has a double taxation treaty with the UK, then in general you are subject to the tax laws of the country of residence. So, if in Saudi/Qatar etc it means NIL as that is their current tax law on residents. Your bank should provide you with a customer relationship officer who needs to give you a form to complete declaring you as a resident overseas and the country you reside in. You will also need to provide proof of the residence such as Employer letter, Utility Bills etc. This is safeguarding you and the bank. Quite easy really.
|
Re: Sending money to the UK
thank you for the reply. I am non UK residence and lives in Singapore. I did check with a tax expert and he is clearly ducking the question which made me think there is more to it...hence decided to do the reading myself...
Originally Posted by Don63
(Post 12757615)
Always best to seek tax advice, but assuming you are treated as non-resident by HMRC and the country of your residence has a double taxation treaty with the UK, then in general you are subject to the tax laws of the country of residence. So, if in Saudi/Qatar etc it means NIL as that is their current tax law on residents. Your bank should provide you with a customer relationship officer who needs to give you a form to complete declaring you as a resident overseas and the country you reside in. You will also need to provide proof of the residence such as Employer letter, Utility Bills etc. This is safeguarding you and the bank. Quite easy really.
|
Re: Sending money to the UK
https://www.gov.uk/government/public...-test-srt-rdr3
Happy reading. You need to pass the SRT, mainly have3 some work or business abroad and not visit UK for more than 90 days a year. There are a myriad of complications possible beyond that, most explained in guidance notes. You may consider filling this (non statutory required) form, which may help you tell HMRC in advance that you live abroad. A lengthy form with complex guidance, links below. https://www.gov.uk/government/public...-tax-right-p85 https://www.gov.uk/government/public...g-in-this-form And finally this: https://www.gov.uk/hmrc-internal-man...asis/rdrm11100 All the best!
Originally Posted by Softbear
(Post 12757657)
thank you for the reply. I am non UK residence and lives in Singapore. I did check with a tax expert and he is clearly ducking the question which made me think there is more to it...hence decided to do the reading myself... |
| All times are GMT. The time now is 3:07 pm. |
Powered by vBulletin: ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.