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  • Fund remittance

    I have just stayed in UK for more than 6 months after getting the pre-settled status. We have some fund/ savings in the bank account in the original country. (The money was in the account before staying in UK for 6 months. Are we allowed to transfer the money to UK without paying tax? Thanks.

  • #2
    Originally posted by boriskkc View Post
    I have just stayed in UK for more than 6 months after getting the pre-settled status. We have some fund/ savings in the bank account in the original country. (The money was in the account before staying in UK for 6 months. Are we allowed to transfer the money to UK without paying tax? Thanks.
    Morning,

    I'm afraid this is a bit outside the scope of our group, since we are not tax advisors and can only help with the EUSS side of things. But as you mention living in the UK and money having been in the account, more than 6 months, I am interested to know what you are referring to, what you have seen or heard in that regard. There is no link between EUSS status and taxation, and in the UK, you would be taxed on your income. If you are referring to being UK resident for tax purposes, this is separate from EUSS status, however, since people with pre-settled status would need to spend at least 6 months out of every 12, in the UK, to be able to qualify for settled status in 5 years, and the rule for being resident for tax purposes is along the same lines, it follows that you would have to be UK resident for tax purposes.

    Also note that different countries may apply different rules when it comes to money and tax, so you'll need to check with your country of origin before making any transfers. Due to money laundering regulations, if making a large transfer, banks may wish to enquiry into to provenance of the funds.

    I am the Site Manager and Webmaster, please refer to our Admin Team, Roles and Responsibilities. If you think we have helped in any way, please support us so we can keep helping others secure their status, it is now more important than ever now EEA nationals are subject to the same immigration requirements as non EEA nationals and require proof of valid status in the UK.

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