Questions about tranferring money overseas
March 17, 2008 6:39 AM Subscribe
Need to transfer a large amount of money from US to UK and have a few questions about currency brokers and taxes.
posted by gfrobe to Work & Money (6 answers total) 9 users marked this as a favorite
I'm going to be transferring 100k from a US savings account to a UK saving account and want to be sure I get the best exchange rate. Should I use a currency broker for this rather than my regular bank? If so, can anyone recommend a good reputable broker?
Also, what are the tax consequences of a transfer like this? Will I have to pay UK taxes on the money I'm bringing into the UK?