Repatriating cash to UK from within EU

[Rockets]

In autumn/winter 2006 I plan to return to the UK after an absence of 3yrs. I have accumulated some money (only about £80,000)by investing in property. The trouble is,in line with the local custom, the money is mostly undeclared actual cash (notes). My questions are: should I put it in a bank in this country and declare it for tax purposes, or can I bring it to the UK and then sort out any tax business? How much cash is one person allowed to physically carry through UK customs? How much cash am I allowed to deposit in a high-street bank in one go? Obviously I want to clear up this problem as prudently as possible.

[tax me less!]

You have already admitted in this post that you have evaded taxes. This is a criminal act that is likely to put you in jail. The earnings that you have received (whether or not legally) are almost certainly taxable in BOTH the UK and the country(ies) where you earned the money. Failure to declare in both jurisdictions will be an imprisonable offence. I recommend that you insatruct a solicitor first thing on Monday morning, so that the solicitor can represent you with the tax authorities, the police and the courts.

I know this response may appear harsh and cruel but tax evasion is illegal and by posting on an open forum you have laid yourself open to being discovered.

[Rockets]

Many thanks for your prompt and frank answer to my query. I hasten to add that this was a hypothetical question based on proposals put before me recently. I will now take great care to avoid this nature of transaction and will insist on bankers drafts. Thanks again for this sobering response.

[TaxationWeb@BritishA]

May I add to Tax Me Less's comments? Have you never seen an episode of CSI? And you still put this sort of request in writing? Don't you realize that websites like this are surfed by the Inland Revenue, the IRS, and other taxing authorities to track down stupid tax fraudsters? Your personal details can be easily obtained from the administrators of this website with warrants and computer tracing specialists. The very posting of this question can be the cause of your eventual arrest.

I am going to reiterate Tax Me Less's advice that you should talk to your lawyer on Monday. Even if the query was hypothetical, you will at least know what steps to take if the police come a'knockin' as a result of your post.