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Money Transfer from my UK account to my NL Account


Question:


I had been working and living in The Netherlands for almost 4 years, where I still have a property and a bank account. I am now living and working in UK. Is there any tax implication or any limit in case I want to send money to my Dutch account from my UK accountl? Thanks. 

Answer:

For tax purposes there is no limit if you want to transfer money to your Dutch account. You don’t have to pay tax on the Dutch account since you are not living in the Netherlands. You are supposed to declare the Dutch account in your UK tax return. In the Netherlands nothing needs to be declared with respect to this bank account, so irrelevant for the Dutch tax authorities is how much money is on the account. You may want to check with your UK bank how much money can be transferred each time. If it is a high amount the Dutch bank may also ask questions (in light of anti money laundering regulations).

The Dutch tax authorities may however request you to file a tax return for the Dutch property. If so, you will receive an invitation from them. If not, nothing needs to be done for now.

Expatax can help you with the tax return. 

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Comments (1)
Comment by null points on Wed, Nov 30th, 2016 at 12:18 PM
I am a highly skilled IT professional and have been working in Netherlands for 6 months and after the contract ended and I re-located back to UK i had great difficulty transferring EUR 3,000 from my dutch rabo bank account to my UK account as i fell foul of anti money laundering laws. I had paid my dutch taxes on my dutch earnings and used a dutch company to go through it looks like the Netherlands is no longer open for business
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