Using a broker currency agent

Good afternoon, I have a couple of questions. I am going to buy a flat and I want to bring my earnings from Spain. That was money I did earn back on the day when I was living in Spain and I do have actually to pay for having them, I have not receive any interest for them or any benefit from them. Do I have to pay tax or declare anything when moving them to my UK account? I do have the settlement status. And next question, I was thinking about using a currency platform as Wise to transfer the money. Is it advisable or that would be a mistake in terms of tracking the money origin? The amount would be over £10.000. Thanks

Hi,
 

There are no income tax implications on the transfer of the cash  unless the income generates interest or dividends. These would then potentially be subject to tax.  Further guidance can be found here : Tax on savings interest  and  : Tax on dividends . We cannot advise you about how to transfer or it or what platform to use  . Thank you.

Thank you so much for your reply and for the information. About the transfer method, my concern is more about if using an intermediate platform will cause me trouble from HMRC perspective. Because it will imply more steps on the process of the checks from where I am receiving the money, so I do not know if it would be a problem. Should I make a declaration or anything about it to avoid troubles? Thanks again

Hi,

You can if it will give you peace of mind, but there is no requirement.

Thank you.

Oks. Thank you so much for replying , for the information and for your help. Thanks again.