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Transfer money to oversea's account.

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BRAVO1 | 08:00 Fri 27th Jun 2008 | Business
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On completion of the sale of our second house, I want to transfer the proceed's into an account not in the UK.

Does anyone have any advice on transfering money into accounts in the Isle-of-Man or Gurnsey ?.

Has anybody any other idea's on transfering money abroad ?.
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Which banks are you with in the Isle of Man and Guernsey?

You still have to pay tax on the interest from offshore accounts, if you are a UK resident.
Just in case that happened to be your idea.
It's perfectly simple to transfer money into accounts abroad and in the Channel Islands etc. Your bank can walk you through it but there's fundamentally no more difficulty than there is transferring it to another UK bank.

Did you really want advice on transferring money? Or is it actually advice on the best place to put it you want?

If it's the latter, buildersmate is right. Presuming you yourself are remaining a UK resident there's nothing to be achieved by transferring the money abroad. Interest earned is still taxable here and the Revenue is presently cracking down on people who don't declare it.

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Transfer money to oversea's account.

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