Bringing your money to UK

[itsgeekyways]

If a person who is on Tier 2 visa wants to bring his money to UK from his home country then

1) is he subject to any taxes on bringing that money in the UK?
2) Does that affect the a person's status in UK in any way?
3) Any inheritance taxes?

[WRWR]

1) No taxes on money acquired before arrival to UK. This money was taxed in your home country. I suggest to keep statements and tax forms in case of enquiry. Do not throw it away.
2) Nothing comes to my mind.
3) Yes, but you need to have at least 325.000 pounds in total to be affected by IHT. Also, as potentially non-domiciled resident, your overseas assets may be excluded from this tax in UK. You should seek professional advice if significant amount of tax is at stake.

Also, you should be careful about overseas income after arrival to UK. Normally you should declare it and pay UK tax on it.

[alterhase58]

Everyone also needs to be aware that the banks are obliged to monitor accounts for unusual money flows (Money Laundering Regulations). They need to "know their customers". Transaction from or to problematic geographies especially.