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For those who have already sold up and moved back

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Old Nov 4th 2009 | 10:26 am
  #1  
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Default For those who have already sold up and moved back

When you transferred your equity from your home sale abroad, did the UK tax man take some of it when you transferred it to the UK bank?
Anyone have link suggestions so I can find out?
 
Old Nov 4th 2009 | 10:53 am
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Default Re: For those who have already sold up and moved back

No, the UK taxman will not take a slice off the money you transfer from wherever back to the UK when you move from overseas back to the UK (assuming you have been out of the UK for a few years and not just a few months)..

Once the money is in your UK bank account and you earn UK intererst, you have to pay tax on the UK bank interest.
 
Old Nov 5th 2009 | 2:33 am
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Default Re: For those who have already sold up and moved back

Thats good to know. Thanks.
Now I have to figure out what is needed to transfer money ie, What info on my UK account besides the account number and how the heck all that works (Hopefully the cheapest/ safest way to transfer.)
 
Old Nov 5th 2009 | 2:36 am
  #4  
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Default Re: For those who have already sold up and moved back

Originally Posted by Mummy in the foothills
Thats good to know. Thanks.
Now I have to figure out what is needed to transfer money ie, What info on my UK account besides the account number and how the heck all that works (Hopefully the cheapest/ safest way to transfer.)
XE Trade!

( you need to check out the US tax situation as well though.....)
 
Old Nov 5th 2009 | 4:07 am
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Default Re: For those who have already sold up and moved back

Originally Posted by Mummy in the foothills
Thats good to know. Thanks.
Now I have to figure out what is needed to transfer money ie, What info on my UK account besides the account number and how the heck all that works (Hopefully the cheapest/ safest way to transfer.)
Bank sort code and bank SWIFT number or IBAN number (needed for international payments), AFAIK.
 
Old Nov 5th 2009 | 4:25 am
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Default Re: For those who have already sold up and moved back

Originally Posted by dunroving
Bank sort code and bank SWIFT number or IBAN number (needed for international payments), AFAIK.
XE Trade will guide her through the process - they are very helpful. (Satisfied customer - no vested interest )
 
Old Nov 5th 2009 | 8:20 am
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Default Re: For those who have already sold up and moved back

or HIFX they are brilliant
 
Old Nov 5th 2009 | 8:22 am
  #8  
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Default Re: For those who have already sold up and moved back

Originally Posted by Elvira
XE Trade will guide her through the process - they are very helpful. (Satisfied customer - no vested interest )
Thats good to know there are satisfied customers.
I'm not ready to sell up and transfer it all right this minute, Dh was asking more questions and I pass all the info on to him. He's a worry wart, married to a worrier. Probably not a good combo
We won't sell till closer to our hopeful 2012 move.
 
Old Nov 5th 2009 | 9:25 am
  #9  
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Default Re: For those who have already sold up and moved back

Originally Posted by janeyk
or HIFX they are brilliant
I'd recommend HiFX as well. We've been using them and they're great.
 
Old Nov 5th 2009 | 12:41 pm
  #10  
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Default Re: For those who have already sold up and moved back

That makes two to check out, thank you.
 
Old Nov 5th 2009 | 1:17 pm
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Default Re: For those who have already sold up and moved back

Originally Posted by janeyk
or HIFX they are brilliant
We always contacted both HIFX and OZFOREX at the same time when transferring money....OZFOREX always offered us a better rate..both good companies though and very helpful...
 

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