Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Tue, 27 Aug 2024 12:05:47 GMT by Sue
Hi My parents have moved to the Isle of Man and need to transfer their money from the english building society account to their new IOM bank account - the building society have said that this cannot be done by phone and they dont have internet banking set up for my parents, which would mean they need to be in England, at a branch, to do the transfer. As they are over 87 now, neither of them want to do the journey back over to England (nor are they particularly physically able) and so they have asked me if I would send them the money if they send me it first as a cheque. My question is, is this legal or do I need to declare anything? Its around £20k they need to move. Thanks
Posted Wed, 04 Sep 2024 07:31:01 GMT by HMRC Admin 21 Response
Hi Sue
There would be no tax implcations in doing this.
Thank you.

You must be signed in to post in this forum.