Tax and Offshore Accounts
Mar 23rd 2010, 5:34 am
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Tax and Offshore Accounts
Been here a few years and during this time been putting my spare cash in an offshore account in Jersey, but may well be returning permanently to the UK within a few months.
Whilst I am well aware that once back resident in the UK, one can maintain the offshore account and pay tax on the interest, my main concern is when the money is eventually transferred into the UK, is there any further tax liability?
In other words is it essential all monies in offshore accounts are transferred to the UK prior to ones return to the UK.
Any advice appreciated.
Whilst I am well aware that once back resident in the UK, one can maintain the offshore account and pay tax on the interest, my main concern is when the money is eventually transferred into the UK, is there any further tax liability?
In other words is it essential all monies in offshore accounts are transferred to the UK prior to ones return to the UK.
Any advice appreciated.
