More pounds for euros
Best way to transfer funds from Spain to England. Which method gives more pound to the euro.
Posted: Wed Mar 29, 2023 6:45pm
Very helpful member
Use Wise
Posted: Wed Mar 29, 2023 10:42pm
I second that wise is the best way
Posted: Tue Apr 4, 2023 2:48am
3rd for Wise
Posted: Wed Apr 5, 2023 10:20am
Alex147 wrote on Tue Apr 4, 2023 2:48am:
3rd for Wise
How did Wise compare to their competitors?
Are the proceeds from the Spanish property sale taxable when you put them into a UK bank?
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Posted: Wed Apr 5, 2023 11:19am
Jeffers wrote on Wed Apr 5, 2023 10:20am:
How did Wise compare to their competitors?
Are the proceeds from the Spanish property sale taxable when you put them into a UK bank?
Hi
I sold a property in Tenerife put money in as euros with wise and waited for favorable rate to exchange to pounds.
I did this in increments wise is simple and straight forward to use there was a limit on how much you can keep in account for long periods of time.
If you sold a property through estate agent the tax due should have been taken off at point of sale.
I also have Revolut but wise works better for me any fees charged by wise you can see are at point of sale so no hidden charges which are nominal.
Just get the app and see for yourself.
Posted: Wed Apr 5, 2023 11:23am
Rob60 wrote on Wed Apr 5, 2023 11:19am:
Hi
I sold a property in Tenerife put money in as euros with wise and waited for favorable rate to exchange to pounds.
Read more...
I did this in increments wise is simple and straight forward to use there was a limit on how much you can keep in account for long periods of time.
If you sold a property through estate agent the tax due should have been taken off at point of sale.
I also have Revolut but wise works better for me any fees charged by wise you can see are at point of sale so no hidden charges which are nominal.
Just get the app and see for yourself.
Hi,
I have a Wise account, I need to check the point you raised that Wise will charge for keeping a large amount of euros in a Wise account.
I still need to understand what if any tax claim HMRC may make.
Posted: Wed Apr 5, 2023 11:26am
Rob60 wrote on Wed Apr 5, 2023 11:19am:
Hi
I sold a property in Tenerife put money in as euros with wise and waited for favorable rate to exchange to pounds.
Read more...
I did this in increments wise is simple and straight forward to use there was a limit on how much you can keep in account for long periods of time.
If you sold a property through estate agent the tax due should have been taken off at point of sale.
I also have Revolut but wise works better for me any fees charged by wise you can see are at point of sale so no hidden charges which are nominal.
Just get the app and see for yourself.
Just found Wise saying that they don't charge for keeping large amount of euro in a Wise account.
Maybe Wise changed the rule.
https://wise.com/help/articles/2978082/what-fee-am-i-charged-to-hold-large-amounts-of-eur
Posted: Wed Apr 5, 2023 12:08pm
Jeffers wrote on Wed Apr 5, 2023 11:26am:
Just found Wise saying that they don't charge for keeping large amount of euro in a Wise account.
Maybe Wise changed the rule.
https://wise.com/help/articles/2978082/what-fee-am-i-charged-to-hold-large-amounts-of-eur
Every persons finances are different if I was you I would phone and ask Wise to make sure that’s what I did
They should answer between 08:00 -16:00. +44 203 974 1320
As for hmrc I bought a place in trabuco sent remainder to uk through wise no tax taken so far.
It depends on amounts i sup
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