Best way to bring money in the country

Freakbro · 20 Oct 2011 at 08:59

Hikari Kisugi said:
Yes suckered into paying base plus 0.39 on a full term mortgage, with the other bits being added later, totallysuckered.

You will note I did not say it wasn't a good deal, just that it was not 'Free'

Please convince me that is wrong.

Cosimo · 20 Oct 2011 at 09:27

In your pockets, 500 euro notes will help.

SuperTronNarwhal · 20 Oct 2011 at 10:20

use paypal.

franco_22 · 20 Oct 2011 at 13:08

regulus said:
Anything less than 10 000 Euros from within an EU country is fine. With other words, you can bring around £8000 into the UK from another EU country and not raise a red flag.

Do you know how much from US/Canada ?

Metalface Mark · 20 Oct 2011 at 13:21

Money and postage
How much money can I bring into the UK?

If you are an EU citizen and travelling from within the EU you can bring in and take out bank notes, travellers' cheques, letters of credit etc. in any currency and up to any amount.

Please note that from 15 June 2007, if you are travelling to or from a country outside the European Union (EU), you will need to declare any sums of cash of 10,000 Euro or more (or the equivalent in another currency) to HM Revenue & Customs (HMRC).

franco_22 · 20 Oct 2011 at 13:24

Metalface Mark said:
Money and postage
How much money can I bring into the UK?

If you are an EU citizen and travelling from within the EU you can bring in and take out bank notes, travellers' cheques, letters of credit etc. in any currency and up to any amount.

Please note that from 15 June 2007, if you are travelling to or from a country outside the European Union (EU), you will need to declare any sums of cash of 10,000 Euro or more (or the equivalent in another currency) to HM Revenue & Customs (HMRC).

Can HM tax you for it if it's under 10000 if you're a British citizen ?

Dr House · 20 Oct 2011 at 13:29

franco_22 said:
Can HM tax you for it if it's under 10000 if you're a British citizen ?

its not about tax.

The issue is that they want to stop dirty money moving around.

franco_22 · 20 Oct 2011 at 13:41

Dr House said:
its not about tax.

The issue is that they want to stop dirty money moving around.

I can prove the money isn't dirty, I just don't want to be taxed for it

Sunbed · 20 Oct 2011 at 13:49

franco_22 international man of mystery

So you have been taking your gigolo business abroad???

You're obviously doing pretty well. I might have to give it a go myself.

Crizzy · 20 Oct 2011 at 14:37

franco_22 said:
I can prove the money isn't dirty, I just don't want to be taxed for it

If you can prove it's legit then no worries.

Andy90 said:
You could theoretically fall foul of the Proceeds of Crime Act and/or Money Laundering if the Authorities suspect that your posession of the money came about by a Criminal Act.

Currently any amount of Notes and Coins (from any Country and including Gold coins), Cheques, Bankers Drafts and Travellers cheques can be seized by the Authorities under the Proceeds of Crime Act if they suspect it was gained from a Criminal Act or intended to be used in a Criminal Act and providing the value of the Cash/Cheques/Bonds etc is believed to be over £1000.

Once seized under the suspicion that it was obtained from a Criminal Act or intended to be used in a Criminal Act, the matter is taken to a Civil Court. The onus is on the individual to prove that the currency etc was gained from a Lawful Act, such as work or payment. If you cannot do that the money is forfeited.

It really hits Criminals where it hurts and a lovely piece of legislation

Exactly this.

Crizzy · 20 Oct 2011 at 14:38

Tunney · 20 Oct 2011 at 15:06

Send it in the post.

anything I don't mind · 20 Oct 2011 at 15:22

Pack it inside the interior of a vehicle, like in the side of the door for example. Then bring the car over through on a ferry. The other way is to convert it to gold and then put it in a condom and swallow it, but that might be painful. Alternatively you could give half to the government and bring it in through hand luggage.

Stone22uk · 20 Oct 2011 at 16:04

Convert it to gold and then put it in a condom and swallow it :eek:

PhillyDee · 20 Oct 2011 at 16:07

Lol,

OBAMA CAMERON BOMB

is the 4th result on google

.

Vonhelmet · 20 Oct 2011 at 20:04

franco_22 said:
I can prove the money isn't dirty, I just don't want to be taxed for it

Hi. I have a massively hard qualification in tax. Tell me where the money is coming from and I can very likely tell you whether it could potentially be taxed.

franco_22 · 20 Oct 2011 at 20:07

Vonhelmet said:
Hi. I have a massively hard qualification in tax. Tell me where the money is coming from and I can very likely tell you whether it could potentially be taxed.

It's from an insurance claim and it's probably going to be around $9000. Not a huge sum but I really don't feel it's right if I'm taxed for it by the British government because it has nothing to do with them.

Vonhelmet · 20 Oct 2011 at 20:14

franco_22 said:
It's from an insurance claim and it's probably going to be around $9000. Not a huge sum but I really don't feel it's right if I'm taxed for it by the British government because it has nothing to do with them.

It would depend on exactly what the insurance payout was for. Did you lose something? Was something destroyed? Were you injured?

For example, if it were a payout in respect of lost trading income due to some event, then that would be taxable as trading income. Or sometimes insurance proceeds on the loss or destruction of an asset can be subject to capital gains tax, depending on what you do with the proceeds.

If I had to guess here and now, gun to my head, I'd say that it wouldn't be taxable, but there are some niche circumstances in which it could be.

franco_22 · 20 Oct 2011 at 20:17

Vonhelmet said:
It would depend on exactly what the insurance payout was for. Did you lose something? Was something destroyed? Were you injured?

For example, if it were a payout in respect of lost trading income due to some event, then that would be taxable as trading income. Or sometimes insurance proceeds on the loss or destruction of an asset can be subject to capital gains tax, depending on what you do with the proceeds.

If I had to guess here and now, gun to my head, I'd say that it wouldn't be taxable, but there are some niche circumstances in which it could be.

Car accident basically, yeah, injury compensation. It's nothing to do with employment.

Tony Williams · 20 Oct 2011 at 20:21

Just carry it as it's less than 10,000k eu. Sometimes you can bring more with no questions. Other options:

Bank transfer: I've seen my friend make £16k and £8k transfers to China no problem.

CIM: You could get it in DVD movies (inside the slide area) and post in £1k packs via a trusty courier. Declare as DVD with return address.

Western Union+Money Gram: Both of these in £1k amounts - use friends to send/pickup the money and pay them 5%-10%

Store the money in hard cash or your bank - if it's legit which I believe it is. ^^