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transfer funds from uk to Lithuania

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easterjegg2

4/11/2015 04:56 EST

Hy can anyone tell me if I place funds into my wife's Lithuanian bank account from the UK would she have to pay tax she has been working here for ten years and paying UK tax

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rammy121

4/11/2015 08:18 EST

Nope...she only pays tax on income. e.g. If she earns interest on it, that is liable for tax, in the country the interest is earned. How you got this money in the UK is between you and H.M.R.C. there are what are known as "DTAs"-Double Taxation Agreements. Check the H.M.R.C. website. These can be complicated. I'd recommend you use transferwise . it's all legal etc.

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easterjegg2

4/12/2015 11:24 EST

Hi thanks for the prompt reply I shall look up transferwise and see what they can do for me .We want to retire to Lt and any information regarding resettlement would be real good

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