I am returning to UK with more than 10K following my house sale, and have been told that I must declare anything more than 10K... is this correct.
What do customs do with the info..Who do they tell ?
2006-08-31 04:02:59 · 7 answers · asked by justsquiff 2 in Travel ➔ Travel (General) ➔ Other - Destinations
I assume you are travelling from the USA to the UK.
US federal law requires you to report the IMPORT or EXPORT of cash or monetary instruments (travellers cheques, drafts) totalling USD 10,000 or more.
UK law is unconcerned with how much you bring in or out, except that metallic gold may be subject to VAT.
I wire funds from the US all the time. I report only the existence of a foreign bank account where required, never the fact of the wire.
Normally your bank, when transferring funds by wire or when issuing a bankers draft or clearing it from abroad will file the relevant treasury report. That does not excuse you from filing your own -- if you hand-carry the draft abroad (or import it). If you mail it abroad there's no report for you to make, I am told. People post large US$ checks and drafts abroad all the time.
If you are carrying cash or drafts, you ask for US Customs at the airport and fill out a brief form. There is no tax; the form is sent to Treasury for the use of the IRS. If you sold US land you already were issued a form 1099-S and, if not a "US person", had a part of the proceeds withheld.
2006-08-31 04:05:50 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The money should be sent into a bank account which i will give you in the next message and then you don´t have to worry about what will happen when you return to UK.
2006-08-31 04:12:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Coonman's too problem-free! you could call em Doboons really!! Make human beings trust you threw in some Baboon, and also you'll have the proper blend!!! The aggression and the territorial characteristics from the Baboon and the Doberman (reason all of us understand they're loopy, precise?), and the searching trait of the **** hound, and also you'll't flow incorrect! not something would get on your backyard then!! do not imagine i have ever examine a submit that made me snort til I cried, lol, i mandatory that immediately, thanks =P
2016-12-06 01:08:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Why do you need to take cash to the UK? Leave it in a bank account or take travelers checks..
2006-08-31 04:05:51 · answer #4 · answered by just me000 4 · 0⤊ 0⤋
Its because of the problems with drug money laundering, you will be asked to prove where the money came from, similarly wiht large money transfers into a bank account, you will almost certainly be asked where the money came from.
2006-08-31 04:39:07 · answer #5 · answered by mike-from-spain 6 · 0⤊ 0⤋
Get a 'Western Union' account. pay the money over to a UK account (Family or friends) delclare nothing and spend my friend
2006-08-31 04:06:17 · answer #6 · answered by Anonymous · 0⤊ 0⤋
you have to register with u.s. customs that you are leaving the country with money over $10,000. also.
2006-09-01 03:03:33 · answer #7 · answered by scififed 5 · 0⤊ 0⤋