Home > Tax News > HMRC > New EU cash declaration rules take effect

New EU cash declaration rules take effect

A new EU law on travellers declaring cash takes effect from 15 June 2007.

From that date, people who are either entering the UK from a non-EU country, or are travelling from the UK to a non-EU country and are carrying 10,000 Euros or more (or the equivalent in other currencies) will be required to declare the cash to HMRC at the place of their departure from, or arrival in, the UK.

"Cash" includes currency notes and coins, and bankers' drafts and cheques of any kind (including travellers' cheques).

Forms on which to make the declaration will be available at ports or airports and will also be downloadable from the HMRC internet site. Travellers could face a penalty of up to £5,000 if they fail to comply with the obligation to declare or provide incorrect or incomplete information.

The declaration form will be produced with a carbon backed top copy so as to allow travellers to have a duplicate, which officers of HMRC may ask them to produce as evidence of having made a declaration.

There will still be no declaration required for people travelling between the UK and other EU countries.

Link

HMRC: New EU cash declaration rules commence 15 June

Comments

Only registered users can write comments!

Joomla components by Compojoom

< Prev		Next >

About The Author

Sarah Laing
Editor, TaxationWeb News

Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences).

Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession.

Article Added Thursday, 14 June 2007

Your attention is drawn to the disclaimer on this site, which applies to the content in this section.

Tax Insider Lite

Each month our tax experts reveal FREE tax strategies to help minimise your taxes. Get Tax Insider Lite:

Tax Books

BOOK OF THE WEEK

Bloomsbury's Tax Rates and Tables 2010/11
This new 250 page book from Bloomsbury Professional will provide you with comprehensive, post-Finance Act and post-Finance (No.2) Act coverage of the new revised tax rates,allowances and reliefs for JUST Â£12! Why pay more?

This new 250 page book from Bloomsbury Professional will provide you with comprehensive, post-Finance Act and post-Finance (No.2) Act coverage of the new revised tax rates,allowances and reliefs for JUST £12! Why pay more?

BOOK OF THE MONTH

British Tax Guide: Capital Gains Tax 2010-11
The British Tax Guide: Capital Gains Tax contains everything you need to know on the complex and ever changing capital gains tax regime.

The British Tax Guide: Capital Gains Tax contains everything you need to know on the complex and ever changing capital gains tax regime.

Inheritance Tax 2010/11
Written by a team of experienced practitioners, the book explains even the most difficult points with great clarity, and includes chapters on lifetime planning, and wills and estate planning.

Written by a team of experienced practitioners, the book explains even the most difficult points with great clarity, and includes chapters on lifetime planning, and wills and estate planning.

The Blue Book 2010
This comprehensive annual book provides quick and easy access to the UK's network of approximately 100 double tax treaties. Annotations explain amendments to the treaties and provide cross-references to other relevant material.

This comprehensive annual book provides quick and easy access to the UK's network of approximately 100 double tax treaties. Annotations explain amendments to the treaties and provide cross-references to other relevant material.

Core Tax Annuals 2010/11 Full Set plus CD-ROM
Great value in-depth tax guides that cover all facets of UK taxation - why go elsewhere? This set of Core Tax Annuals from Bloomsbury Professional's leading UK tax authors are available at the incredible price of JUST Â£150!

Great value in-depth tax guides that cover all facets of UK taxation - why go elsewhere? This set of Core Tax Annuals from Bloomsbury Professional's leading UK tax authors are available at the incredible price of JUST £150!