taking money from canada to uk

For Canadians living / traveling in the UK

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seascapeNew Member
Topic author
Posts: 2
Joined: 28 Mar 2010

taking money from canada to uk

Post Sun Aug 15, 2010 10:28 am

Hi
I am UK citizen, my wife is Canadian, we have married and settled in Scotland and my wife has 2 yr visa before moving to ILR next summer. My wife has savings in Canada which are sitting in a bank account there. She wants to move these savings to UK and we are wondering if there are any issues in moving $50k from Canadian bank account to UK bank account. Anything around tax or limits to how much can be moved within a period? I have googled about but not seen anything yet - if anyone has any pointers that would be great!
Thanks
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agnelsonCanuckAbroad VIP
Posts: 3264
Topics: 1
Joined: 26 Aug 2009

Re: taking money from canada to uk

Post Sun Aug 15, 2010 2:18 pm

As long as you move the money using the banking system (and not suitcases of cash) there is no limit to what you can transfer at any tine. The banks take care of any required reporting.

There is no transfer tax in either country.
This site is a travel site and not best source for these topics:
TN and TD info: http://forums.immigration.com/forumdisp ... -TN-Status
For US/Cdn taxes and SS/CPP:forums.serbinski.com/index.php
US Marriage-based Immigration: visajourney.com
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