moving back to uk- tax and super advice,money transfer, closing bank account etc

hi all ive spent a long time thinking about returning to the uk and i would loke advice on the position of what do you do with your superannuation, and tax before i leave in early june, also whats the deal with transfering maoneyto the uk ( when i return or b4 i leave) and closing an bank account etc

cheers clark :biggrin:

Hi there,

I'm in the same situation as you, moving back to the UK in early June.

I spoke to my tax person on Monday, she is happy for me to provide her a folder with ALL invoices, receipts for the 2011/2012 tax year and she will process the tax return for me even though we have left the country.

She will then email me once she has the funds in a holding account to obtain my UK bank details, however what I will more than likely do is tell her to put the funds into my still active Ozzie bank account and then wait on the exchange rates for a bit, maybe use Moneycrop or one of the recommended companies on this site for the transfer of funds back tot he UK.

Hope this helps you.

Hi

The situation with your Super will depend upon the type of visa you currently have.

Temporary residents departing Australia can apply to claim back their Super whereas permanent residents can only access their Super once a condition of release has been met (generally retirement).

Regards

Andy

Hi there,

 

I'm in the same situation as you, moving back to the UK in early June.

 

I spoke to my tax person on Monday, she is happy for me to provide her a folder with ALL invoices, receipts for the 2011/2012 tax year and she will process the tax return for me even though we have left the country.

 

She will then email me once she has the funds in a holding account to obtain my UK bank details, however what I will more than likely do is tell her to put the funds into my still active Ozzie bank account and then wait on the exchange rates for a bit, maybe use Moneycrop or one of the recommended companies on this site for the transfer of funds back tot he UK.

 

Hope this helps you.

hi

i went to there tax office last week and they said i can either fill in a paper tax form before i leave ( if im sure im not gonna work until then) or i can fill in a tax form online from july , seeing i return to the uk in june, how do you get a tax person for more info on this subject, i hav only worked about 4 months in the tax year

Hi Clark

We took a good two years to consider the pros and cons in returning to the UK so understand your current dilemma; the how.

Closing things down is not hard; though you may need to keep an Aus account open right til the end as I assume you don't have a UK account any more. If not, you can give the Aus bank your future UK address (usually a rellie) allowing you to close down later over the phone. Banks may vary on how you do this and where the remaining cheque can be paid to you. The money transfer people will need an Aus account to shift the money to the UK and for money laundering purposes, it will need to be in the same name in Aus and in the UK.

You can give your super fund a new address in the UK, and same for an Aus bank. This way you can concentrate on the shorter term stuff for the moment. Long term, are you able to even move the money to the UK or indeed is it a good idea. I know of many who return to the UK, felt everyone had moved on and returned to Aus, you'll have seen the posts here I'm sure. It happens, and maybe seeing how you feel on your return first and then dealing with any transfer (if possible) later. The downside is of course returns vary and exchange rates go up and down. That's the risk in delaying amongst other things but you'll have plenty to do anyway.

Anyway, good luck with the move. It's the packing I disliked the most.

Hi Clark

 

We took a good two years to consider the pros and cons in returning to the UK so understand your current dilemma; the how.

 

Closing things down is not hard; though you may need to keep an Aus account open right til the end as I assume you don't have a UK account any more. If not, you can give the Aus bank your future UK address (usually a rellie) allowing you to close down later over the phone. Banks may vary on how you do this and where the remaining cheque can be paid to you. The money transfer people will need an Aus account to shift the money to the UK and for money laundering purposes, it will need to be in the same name in Aus and in the UK.

 

You can give your super fund a new address in the UK, and same for an Aus bank. This way you can concentrate on the shorter term stuff for the moment. Long term, are you able to even move the money to the UK or indeed is it a good idea. I know of many who return to the UK, felt everyone had moved on and returned to Aus, you'll have seen the posts here I'm sure. It happens, and maybe seeing how you feel on your return first and then dealing with any transfer (if possible) later. The downside is of course returns vary and exchange rates go up and down. That's the risk in delaying amongst other things but you'll have plenty to do anyway.

 

Anyway, good luck with the move. It's the packing I disliked the most.

hi dan

thanks for getting in touch, yea the whole long term thing is a bit daunting as ive read a lot of posts of the ping pong pom, whether i become one i,m not sure, i;ll just have to wait and see what happens, thanks for the advice, its all happening quickly now as ive got 5 weeks left, then sunny uk, cheers:cool:

anyone know, if you fill in your tax return before the end of the tax year, do you still have to wait until the tax year has ended before you get your rebate?