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Where Taxpayers and Advisers Meet
Transfer limits and tax
Hi, suppose person A needs to transfer money to a company. And due to a technical issue is not able to and is also out of town. Can that person then request a person B to transfer that sum on his behalf via online bank transfer ? And then transfer/deposit that amount into person B's account ? The amount being around £ 2.5k ? Both persons are normal salaried individuals in separate companies. Would their be any tax to be paid for the £ 2.5k that was first sent into Person B's account and then sent over to a company's account ?
Re: Transfer limits and tax
The simple transfer of money from someone's account to someone else's account has no tax implication.
The only question is whether the company will accept the transfer from person B instead of from person A.
The only question is whether the company will accept the transfer from person B instead of from person A.
