# Tax implications moving money from UK to SA



## sebokolodi (May 10, 2016)

Have applied for permanent residency in order to move from UK to South Africa (I know this can be a long wait). We plan on selling our property and moving to SA when the permit finally comes through. With the proceeds we plan on buying a property in SA.

is it better to leave money in UK and buy property with the funds in a UK bank account? Are there any tax implications to moving the money to a South African bank account? My husband is South African and has an ABSA account.

Any help will be greatly appreciated.

Thanks


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## Jem62 (Jul 25, 2012)

If you earned the money in the UK the assumption is that you are taxed in the UK, whatever you earn in SA will be taxed in SA. There is an agreement in place so that individuals are not taxed twice. Therefore there are no implications for bringing money into SA from the UK.


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## sebokolodi (May 10, 2016)

Awesome thank you.


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