Mr Turkey

Hi guys,

You are liable for capital gains and income tax on your worldwide assets, if you are a UK tax resident.

You should declare any interest or money made to HMRC and they will make an assessment. Just because its free of CGT in Turkey doesnt mean that its tax free for the UK !

The Inland revenue recently halted its "amnesty" on offshore bank accounts. These should be disclosed, usual thumping big fines if you don't and get found out.

If it is your money from the UK that you have already paid UK tax on, then returning it should pose no real problems.

Good luck - bit of a mine field. I thought there was no restriction on the amount of cash you could move out of Turkey. Large cash sums require declaration at Customs in the UK however.

MR TURKEY