UK Money advice - Meow?
#1
UK Money advice - Meow?
Ok so I'm paying off my cards back home, owe about £7k and paid off about £3k in the last 2 months, it all goes into my HSBC account and I pay off some of my HSBC card then transfer some to my Cahoot account and pay off that card - do I get taxed on this? and if so how much can I send back?
Also whats the ebst way to save cash? Send it to a savings account back home? we're really talking maybe £3/400 a month for now so not really offshore account sort of money - any ideas?
Also whats the ebst way to save cash? Send it to a savings account back home? we're really talking maybe £3/400 a month for now so not really offshore account sort of money - any ideas?
#2
Account Closed
Joined: Jul 2008
Posts: 820
Re: UK Money advice - Meow?
No idea about the tax situation but, strangely enough HSBC's On-line Savings Account over here is now giving over 5% interest compared with about 2.5% for the same account back home. I say "strangely enough" because only a few months ago it was the other way around.
#3
Re: UK Money advice - Meow?
Ok so I'm paying off my cards back home, owe about £7k and paid off about £3k in the last 2 months, it all goes into my HSBC account and I pay off some of my HSBC card then transfer some to my Cahoot account and pay off that card - do I get taxed on this? and if so how much can I send back?
Also whats the ebst way to save cash? Send it to a savings account back home? we're really talking maybe £3/400 a month for now so not really offshore account sort of money - any ideas?
Also whats the ebst way to save cash? Send it to a savings account back home? we're really talking maybe £3/400 a month for now so not really offshore account sort of money - any ideas?
#4
Forum Regular
Joined: Sep 2008
Posts: 102
Re: UK Money advice - Meow?
i wouldnt send it to a UK account at the moment as the BoE will most likely reduce interest rates again when they meet next week making it even less attractive for savers
#5
Re: UK Money advice - Meow?
Ok so I'm paying off my cards back home, owe about £7k and paid off about £3k in the last 2 months, it all goes into my HSBC account and I pay off some of my HSBC card then transfer some to my Cahoot account and pay off that card - do I get taxed on this? and if so how much can I send back?
Also whats the ebst way to save cash? Send it to a savings account back home? we're really talking maybe £3/400 a month for now so not really offshore account sort of money - any ideas?
Also whats the ebst way to save cash? Send it to a savings account back home? we're really talking maybe £3/400 a month for now so not really offshore account sort of money - any ideas?
My fadder...
#6
Re: UK Money advice - Meow?
Spugsy - provided you remain non-resident for the long term, you shouldn't have an issue, but it would make much more sense (and avoid risk) to pay directly from either a UAE or an offshore account.
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