seismicwork

Hi Guys, In a bit a of Flap.

Im moving back to the UK from Australia where I have worked and saved, i havent been back to the uk for 25 yrs...I have duel nationality... i need to transfer my AUS savings to the Uk and am buying a house in the UK, (never owned a house in Australia)..will I be taxed on money in any when it goes into a UK account?

dunroving

No.

seismicwork

Thnaks for your reply, yeah i hope not, but ive heard their may be CGT, because of the exchange rate...seems silly, win some lose some

dunroving

Possibly if you had exchanged and then exchanged back, thereby making a capital gain, but that's not the case, from your post.

When I first came back to the UK in 2006, a financial advisor told me I'd have to pay tax on any money I had brought back from the States. What he meant was I'd be due tax on any INTEREST on that money, but he wasn't explaining himself properly. Nearly gave me a heart attack, the bloody idiot. Needless to say he didn't get any business from me.

seismicwork

Thanks done roving, a last min panic that someone had muttered..and trying to answer this Id had conflicting advice, but yes im just transferring my savings, just happens the exchange rate is good ATM to make the move, makes up for all those times ive missed out, and may get better or worse still.....found a place, a good city, "a fine city" as Stephen Fry says...

You dont get anything in Australia price wise, as far as quility of housing stock these days so Im UK bound..and looking forward to it