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Transferring Cash In To The Uk


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I'm in the process of closing a Dubai account and want to feed in the cash to my UK account. Tax free in Dubai but I don't want the tax man in UK to ask questions. Does anyone know how much I can transfer before they start to get twitchy? I guess the bank might have an obligation to let the tax man know after a certain amount.

Thanks

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Not wishing to encourage or condone illegal behaviour, but... A long time ago I had a very interesting convesation with a chap on a plane to New York about this very subject. His problem was that he got paid in cash a lot and wanted to bring the money back to the UK without all the tedious tax paperwork, etc.

His solution was to pay it into his credit card which is, after all, just a different kind of bank account, just one that usually runs overdrawn rather than in credit. Then you can just spend on the card back in blighty.

Of course the tax man may have got wise to this technique these days but it might be worth a shot.

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But why would you want to store large amounts of money in the UK in the first place? Unless it's too facilitate a transaction in the UK ;)

My future plan with regards to tax avoidance (legally) is to leave all my profit offshore, I'd be interested to see how they could prove foul play in that case. Ofcourse I'd leave a token amount of profit on my UK account but it would likely stay within the personal tax allowance, so I'd be laughing.

I am a firm beleiver that many companies use the same tax avoidance measures and many more, if a company isn't publically listed it has no incentive to pay tax on profits. Ofcourse anyone in the know realises that the stock market is just one giant bubble hence it's profitable for such companies to declare profits in order to continue raking in the share capital.

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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