Quote:
Originally Posted by Coqueiro
Can anyone a help a friend out with some information, he wants to know the best way of moving £15k from Brazil to the UK.
The cash was part of the $50k to get an investment visa. The money is currently in a Bradesco account. I would have thought he may be risking his visa but he doesnt think this is a problem. But is worried about getting stung for lots of tax. I cannot help him so thought I would ask here.
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If the money is in a business account, then your friend is going to have much difficulty! Alot depends on how the business was set up, i.e 1) for trading in 2) and which tax method is used. In most cases any money that leaves the business acc needs a Fiscal receipt. If all money is not accounted for which has left the acc then the business would be fined on top of paying taxes of the missing money. Although there are certain tax methods for certain businesses where fiscals are not often neccessary.
1 option would be to completely close down the company and tranfer all the money back. They would be bank charges envolved but no taxes, assuming that the business was set up and tranferred correctly in the first instance.
2nd option is totally thinking outside of the box, but just about staying within the laws, technically.
3rd option is totally illegal.
Regards
Paul