Hi,
I wondered if anyone - Aussie or not - could help with this financial query please?
I am an Australian citizen by birth, lived there for years, have bank accounts etc. I am now resident in the UK & have been for years. My Aussie bank account with quite a lot of savings has a terrible interest rate so I want to change to a better account, same bank is fine. But it seems I need to be resident & have an Australian address - anyone else encountered this?
the alternative is bringing the money over to the UK; but exchange rate is awful at the moment, and could it pose a tax issue too? I don’t want HMRC to hit me with a big ask! (I already paid tax - this is just my savings not a salary- but can you just bring money in to the UK with a wire transfer without filling in forms?).
any advice would be greatly appreciated, thank you so much!