Share this content

Overseas Workday Relief - Exchange the Money

Exchange the money from GBP to EUR without bringing back the money to a UK domiciled account?

Didn't find your answer?

Search AccountingWEB


I am really confused about this one. When we are getting back the tax money under the Overseas Workday Relief, it is transferred to a non-domiciled account (e.g Expat account) in GBP.

To exchange this money to EUR for instance, which is the country of residency, it first has to go through a GBP account which might be domiciled in the UK which will then transfer it into Euro:

- Doing a transfer through Transferwise or Revolut or any other FX platform

Would that step be a problem? The alternative would be to use the bank which received it but they charge a horrendous 4% fee.



Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.

Share this content