Rawkus Posted December 17, 2019 Share Posted December 17, 2019 I'm living in Australia as a PR and likely to return to UK to live in the future. When I move back to the UK and send my money over( which I have earned and paid tax in Australia) will i be taxed on this in the UK? Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted December 23, 2019 Share Posted December 23, 2019 No. Quote Link to comment Share on other sites More sharing options...
Rawkus Posted January 4, 2020 Author Share Posted January 4, 2020 I can just transfer this into my UK account and HMRC won't question it ? Quote Link to comment Share on other sites More sharing options...
rammygirl Posted January 4, 2020 Share Posted January 4, 2020 They can ask for proof but are unlikely to. It is coming from a bank to a bank, they are now the gatekeepers. God help us! We have done this and never had an issue. Still moving chunks of money when we need it and the banks in Oz don’t ask and it doesn’t go on the tax return as it isn’t new money. Any interest on it is declared though. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted January 5, 2020 Share Posted January 5, 2020 1 hour ago, rammygirl said: They can ask for proof but are unlikely to. It is coming from a bank to a bank, they are now the gatekeepers. God help us! We have done this and never had an issue. That may change in the future. One of the big scandals in the Royal Commission was that banks were supposed to be monitoring and reporting large transfers and they weren't, allowing money launderers to get away with it. As they're now facing big fines, I'd say the banks will get their act together and start being more vigilant. If it's just savings that you're transferring, you shouldn't have any problems though. Quote Link to comment Share on other sites More sharing options...
davlap Posted January 5, 2020 Share Posted January 5, 2020 2 hours ago, rammygirl said: They can ask for proof but are unlikely to. It is coming from a bank to a bank, they are now the gatekeepers. God help us! We have done this and never had an issue. Still moving chunks of money when we need it and the banks in Oz don’t ask and it doesn’t go on the tax return as it isn’t new money. Any interest on it is declared though. I recently transferred some funds due to the better rate and Nationwide security blocked transfers and I had to call them. @rammygirlI noticed you mentioned in some other thread that you were with Nationwide and you have been a pomsinoz member since 2009 We came over in 2008 and still have Nationwide. We use in-laws address in UK, but they are getting old and I would prefer to take any hassle away from them. I was thinking of changing details to our Aus address (we are PR), but as we have fairly large funds in Nationwide, just concerned it might cause problems. Also, I assume you cannot open new accounts if non resident in UK. Would be interested to know if you (or anybody) have issues using the Aus address specifically with Nationwide. In particular keeping credit and debit cards. We don't seem to have received credit cards that expired in Dec 2019, so would prefer they were sent direct to us here in Aus. Did you tell them you are Aus residents? Quote Link to comment Share on other sites More sharing options...
Rawkus Posted January 5, 2020 Author Share Posted January 5, 2020 Yes, it's just my savings. My plan was to take my money with me when I permanently move back. Was just curious if there's anything I need to do before I send it over or if anything can happen if I do. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted January 5, 2020 Share Posted January 5, 2020 22 minutes ago, Rawkus said: Yes, it's just my savings. My plan was to take my money with me when I permanently move back. Was just curious if there's anything I need to do before I send it over or if anything can happen if I do. Just make sure you use an agency like Moneycorp or Transferwise. If you transfer bank to bank they’ll hit you for fees Quote Link to comment Share on other sites More sharing options...
rammygirl Posted January 5, 2020 Share Posted January 5, 2020 1 hour ago, davlap said: I recently transferred some funds due to the better rate and Nationwide security blocked transfers and I had to call them. @rammygirlI noticed you mentioned in some other thread that you were with Nationwide and you have been a pomsinoz member since 2009 We came over in 2008 and still have Nationwide. We use in-laws address in UK, but they are getting old and I would prefer to take any hassle away from them. I was thinking of changing details to our Aus address (we are PR), but as we have fairly large funds in Nationwide, just concerned it might cause problems. Also, I assume you cannot open new accounts if non resident in UK. Would be interested to know if you (or anybody) have issues using the Aus address specifically with Nationwide. In particular keeping credit and debit cards. We don't seem to have received credit cards that expired in Dec 2019, so would prefer they were sent direct to us here in Aus. Did you tell them you are Aus residents? Yes we changed address. They send cards here to Australia and send texts to my Aus phone. I rarely have problems and do all on line. I did transfer some money from Nationwide recently via TransferWise to buy a car. No issues at all. You may not be able to change to an overseas address on line but you can call them. They will require you to give your ATO tax number and make a declaration of residency as per regulations. But no issue with maintenance of account from Australia. Cannot open new accounts, even within the same bank though! Quote Link to comment Share on other sites More sharing options...
Rawkus Posted January 5, 2020 Author Share Posted January 5, 2020 58 minutes ago, Marisawright said: Just make sure you use an agency like Moneycorp or Transferwise. If you transfer bank to bank they’ll hit you for fees Yes, definately. Thanks. Quote Link to comment Share on other sites More sharing options...
davlap Posted January 5, 2020 Share Posted January 5, 2020 2 hours ago, rammygirl said: Yes we changed address. They send cards here to Australia and send texts to my Aus phone. I rarely have problems and do all on line. I did transfer some money from Nationwide recently via TransferWise to buy a car. No issues at all. You may not be able to change to an overseas address on line but you can call them. They will require you to give your ATO tax number and make a declaration of residency as per regulations. But no issue with maintenance of account from Australia. Cannot open new accounts, even within the same bank though! Good to know, thanks Quote Link to comment Share on other sites More sharing options...
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