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UK Money advice - Meow?

UK Money advice - Meow?

Old Nov 29th 2008, 1:47 pm
  #1  
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Default 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?
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Old Nov 29th 2008, 2:16 pm
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Default 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.
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Old Nov 29th 2008, 3:16 pm
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Default Re: UK Money advice - Meow?

Originally Posted by Spugsy View Post
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?
course it is offshore account money, money is money Spugs. I recommend Allied Irish Offshore.
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Old Nov 29th 2008, 5:06 pm
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Default 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
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Old Nov 29th 2008, 6:33 pm
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Default Re: UK Money advice - Meow?

Originally Posted by Spugsy View Post
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?
Send the money to me, mate. I garantee 55% retorn on invastment an yor money is as safe as howses.

My fadder...
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Old Nov 30th 2008, 4:18 am
  #6  
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Default Re: UK Money advice - Meow?

Originally Posted by Blue Cat View Post
course it is offshore account money, money is money Spugs. I recommend Allied Irish Offshore.
Anyone would need to deal with someone who has an agency with them (like me!) as they have minimal prescence here. (A recognised agent can certify all documents for you so no need to let your passport out of your sight.) The accounts are good as they have low minimums.



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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