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Sam
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Category: Tax
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I have recently returned from Australia to U.K.I transferred

Customer Question

I have recently returned from Australia to U.K.I transferred all my money through international currency dealer into my partners U.K bank account as that was the only way in which we could obtain a good exchange rate.I have now opened a bank account in my own name in UK(within the first day) and my partner is in the process of transferring the money back to me.The amount is 303000 pounds.Are there any tax liabilities on either side as it now looks as if I am being given a lot of money.
Submitted: 3 years ago.
Category: Tax
Expert:  Sam replied 3 years ago.

Hi

 

Thanks for your question

 

How did this money arise - was it earnings whilst in Australia, or investment/savings income you took out with you, and are now bringing back into the UK.

Sale of property?

 

Please expand.


Thanks


Sam

Customer: replied 3 years ago.


All of the above,an accumulation of property sale,savings nd investments over the years,

Expert:  Sam replied 3 years ago.

Hi

 

Perhaps you can expand

1) did any of these investments arise from the UK, have these been declared to HMRC over the years

2) When was the property/properties sold, which country is the property in, was it your main residence

3) Were the savings accumulated whilst in Australia, or did you have them when you left the UK

4) When did you return to the UK, and how much of a gap was there between your return to the UK and you arranging transfer of the money.

 

 

I need to know the history of each of the monies, and how and from where they arose, so I can advise whether any tax has to be considered in the UK

 

Thanks


Sam

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