by taxhelp on Wed Feb 22, 2006 12:46 am
I have some money invested in New Zealand & would like to get it back to the UK without any tax implications. I won't need the money until later in the year or early next year. Could I send the money to my offshore current account in Channel Is, then open up a savings account (capital only) with the interest paid into the current account, & then at a later date remit the money to my UK bank account.
Would IR look at this as capital being remitted to the UK & thus no tax implications?
How long would I need to leave the money in the offshore account in Channel Is before remitting to the UK.