Originally posted by gwen
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It all depends on whether the money has been taxed in the first place.
Let me explain.
A number of contractors who work in Europe take advantage of a scheme where a local salary is paid in the country where they work. The rest is paid into a pension scheme which is usualy off shore of the country where they are working. They pay tax on the local salary only. The "pension fund" is not taxed localy.
Legaly the contractor should pay tax on the "pension fund" in the country where they bring the money back onshore. Some become resident in tax havens for this purpose.
Repatriating this money to the UK would require a declaration to Hector as income.
If you are transferring the contents of your bank account which has already been taxed locally (even if it is a tax free country) then there is no tax to pay.
There are one or two issues with reciprocal tax agreements.
I am not qualified to give this advice.
You should ask an accountant who deals with this kind of thing regularly. JSA International may be able to help but they may charge for the advice.

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