I will try to be more specific as I expect rules/taxes to be country specific.

I am a French currently living in UK. I have both EUR and GBP account in each country. Because of brexit, GBP has fallen down and I was thinking about taking advantage of it.

My question is: Is it allowed to tranfer 50-100k EUR to my GBP UK bank account, wait few months/years then transfer it back to my EUR french bank account? If so, is it taxable and how?

I would be surprised that currency speculation is allowed without any controls/rules.

As a reminder, UK is still part of EU for now.

Thank you for the replies.

Edit: I am concerned with customs. Importing a quantity of money higher than the one exported will probably have to be justified. I am not sure "currency speculation with profit" would be legal.

I will try to be more specific as I expect rules/taxes to be country specific.

I am a French currently living in UK. I have both EUR and GBP account in each country. Because of brexit, GBP has fallen down and I was thinking about taking advantage of it.

My question is: Is it allowed to tranfer 50-100k EUR to my GBP UK bank account, wait few months/years then transfer it back to my EUR french bank account? If so, is it taxable and how?

I would be surprised that currency speculation is allowed without any controls/rules.

As a reminder, UK is still part of EU for now.

Thank you for the replies.

Edit: I am concerned with customs. Importing a quantity of money higher than the one exported will probably have to be justified. I am not sure "currency speculation with profit" would be legal.

Edit 2: Here an example to clarify the situation (Various bank fees won't be included):

1. Initial situation:

• EUR French bank account: 100k EUR
• GBP UK bank account: 0 GBP

2. 100k EUR are transfered from France to UK

Temporary situation is:

• EUR French bank account: 0 EUR
• GBP UK bank account: 100k EUR

3. However my UK bank account is in GBP therefore UK bank immediately exchanges EUR to GBP with internal rate

Situation is now:

• EUR French bank account: 0 EUR
• GBP UK bank account: 80k GBP

4. Fortunately, GBP/EUR rate is increasing and I decide to send all the money in EUR back to France

Temporary situation is:

• EUR French bank account: 0 EUR
• GBP UK bank account: 150k EUR

5. I patiently wait for the conversion + transfer

Final situation is:

• EUR French bank account: 150k EUR
• GBP UK bank account: 0 GBP

Conclusion: French customs will see 100k EUR leaving then 150k EUR incoming few months later. My concern is about 50k EUR difference justification. I cannot imagine that France/UK won't try to tax this profit. I hope this example was clearer.

I will try to be more specific as I expect rules/taxes to be country specific.

I am a French currently living in UK. I have both EUR and GBP account in each country. Because of brexit, GBP has fallen down and I was thinking about taking advantage of it.

My question is: Is it allowed to tranfer 50-100k EUR to my GBP UK bank account, wait few months/years then transfer it back to my EUR french bank account? If so, is it taxable and how?

I would be surprised that currency speculation is allowed without any controls/rules.

As a reminder, UK is still part of EU for now.

Thank you for the replies.

I will try to be more specific as I expect rules/taxes to be country specific.

I am a French currently living in UK. I have both EUR and GBP account in each country. Because of brexit, GBP has fallen down and I was thinking about taking advantage of it.

My question is: Is it allowed to tranfer 50-100k EUR to my GBP UK bank account, wait few months/years then transfer it back to my EUR french bank account? If so, is it taxable and how?

I would be surprised that currency speculation is allowed without any controls/rules.

As a reminder, UK is still part of EU for now.

Thank you for the replies.

Edit: I am concerned with customs. Importing a quantity of money higher than the one exported will probably have to be justified. I am not sure "currency speculation with profit" would be legal.