ian steele

I am retiring and moving back to the UK after 35 years working in Antigua.
I have already bought a house in East Yorks.
Will I have to pay tax on remaining savings which currently are offshore but which I intend to move to a bank in Yorkshire.
My move will take place between August and November assuming travel is permitted.

Pulaski

Moving money that you already own and have paid applicable income taxes on, is generally not taxed when you move it back to the UK - the exception being if you have only been out of the UK for a short time, say a few months, and had not established being non-resident with respect to UK income tax.

durham_lad

As Pulaski said, there is no UK tax for moving your savings to the UK.

Pulaski

You should expect to have a detailed conversation when you open an account in Yorkshire, and if nobody asks you pointed questions about your finances, you should request a meeting and explain your background because transfering your "life savings" from a bank in the Caribbean to a bank in the UK that is not expecting a tidy chunk of money and doesn't know about your and your background, may raise some significant questions, which the bank will likely not ask you, and will reach their own conclusions.

scot47

The Yorkshire bank will assume that you have acquired the money by dubious means, especially if yoy are not from Yorkistan.

ian steele

Dear All
Thank you for your reassuring replies, and yes I will discuss with my future bank how and where I got the money, I had a similar process to go through when I bought the house, I realise it must be quite a task for the security and revenue forces trying to determine what is and isn't 'legitimate' money.