I'd worry about being robbed or losing the money en-route. Is it likely? Probably not. But wow, I wouldn't want to lose serious money in one shot. I have fond memories of the time I was serving as treasurer for a non-profit organization and I was taking $30,000 in contributions to the bank. As I walked across the parking lot with all that money in my brief ...
A quick search shows that https://www.westernunion.com/de/en/send-money/start.html says they will transfer €5,000 for a cost of €2.90. Assuming you can do a transfer every week, that would be six weeks at a cost of €17.40. €17.40 is slightly less than €1,500.00. I'm sure there are more ways.
A savings account is your best bet.
You do not have the time frame to mitigate/absorb risks. The general guideline for investment is 5 years or more. As you state you are no where near close to that time frame.
From the ACEA 2016 Tax Guide, page 250:
a). for four-stroke internal combustion or spark ignition engines:
hp = 0.080 * (0.785 * D^2 * R)^0.6 * N
b). for two-stroke internal combustion or spark ignition engines:
hp = 0.11 * (0.785 * D^2 * R)^0.6 * N
D = the diameter of the cylinder in cm
R = ...
The reality is that, even if tax law allows them to hire you, the company can just decide not to hire you for the internship unless you do what they say. They may have their own reasons for not wanting to jump through the various hoops you are investigating, and for wanting to simplify their own bookkeeping by insisting that their interns be physically ...
There is an interesting read on Spanish inheritance tax at https://www.spanishpropertyinsight.com/2016/02/08/spanish-inheritance-tax/
Unfortunately, it describes this situation (UK estate, Spanish tax-resident inheritors) as "a scenario you categorically want to avoid for your heirs at all costs. It entails for your loved ones spending greater time, money ...
Trading in cryptocurrencies is considered in the same way as forex
trading or binary options. The same principles will apply come tax
time. The savings tax rates are applied (on a scale between 19% and
As for wealth tax, cryptocurrencies have to be declared as you would
declare any other asset that you own.
After a meeting with a financial advisor, these are the important points
I have to file my Income Tax Return only in Spain, my country of
My French employer shouldn't deduce taxes from my net salary. I'm not sure if any tax or only those related to social security, national taxes, etc.
I hope this helps someone else
There are good reasons to not go the cash route here (see Jay's answer). If one insists however, at 30 k€ anti-money laundering regulations have to be considered (and are not mentioned by the existing answers so far). Depositing amounts larger than 10 k€ will trigger questions about the source of the money to fight tax evasion and organized crime (splitting ...
Deutsche Bank states here (couldn't find it in english) that SEPA transfers (all transfers in EUR to EU states that have EUR) are free. So you could just transfer the money. Your custom daily transfer limit (by default 1000€ for online banking transfers) applies. You can change the limit online or by going to one of their branches. You would then transfer ...
Phone HMRC. They will tell you the necessary steps to claim back the tax.
As an aside, I agree with whoever advised you that you should be able to get a refund, as your total UK earnings for the tax year are below the personal allowance. You will probably need to wait until 6th April before you are able to claim the money back, assuming you were working in ...
It's question of costs vs. opportunity. Swapping out the windows, how much would you realistically save per year? Let's make up a number and say that it saves you (to make the math easier) 50€ / year if you swap them out.
50 / 5000 = 0.01, or a 1% return on your investment. Now, let's look at your mortgage: That has a 2.1% interest rate. As such, any ...
A lot of credit card companies these days uses what they call "daily interest" where they charge the interest rate for the number of days till you pay off what you spent. This allows them to make more money than the "period billing".
The idea of credit, theoretically, is that there isn't really a day when you can borrow without paying interest - in theory
I guess you are making quite a bit of assumptions without clarifying what you are trying to achieve.
As a non-resident you cannot incorporate a sole proprietorship in Singapore. You have to be citizen. Alternatively you can register a company that has its own norms like minimum number of directors and some being Singapore national, etc.
As you are paying ...
The money is not subject to tax because it was deposited. You can deposit money as much as you like, that's not what is triggering the tax.
What is triggering the tax is the sale itself, and it has already happened. If your friend is taxed for capital gains under the Spanish tax law - then this money is already taxable, and not paying the tax due is tax ...
Can you even figure out where in that agreement, or in Hong Kong law, says the income is subject to taxation in Hong Kong?
I think this case should be solved by a professional tax advisory, but here are my two cents:
Article 14 looks pretty consistent with article 9 of the personal income tax law of Spain.
I seem to read in Article 15 the exact opposite of ...
Find in page 8 of the Spanish 2018 VAT manual the following:
VAT is a tax of indirect nature because it rests on an indirect manifestation of income, particularly, consumption of goods and services. This tax is imposed on three types of different operations:
- [In-country] Goods deliveries and service provisions made/done by entrepeneurs, business ...
What would be the way to maximize the long term savings in this situation?
For short-term goals (next few years), save (as opposed to "invest") the money.
For longer-term goals, invest the money in a mix of stocks and bonds (specifically low-cost "mutual funds" and ETFs -- Exchange Traded Funds). Unfortunately, I don't know where to point you in Europe.
You already know more about international tax and social security than I do. Your arguments sound plausible to me. But the company also has tax accountants and presumably know what they are doing. The only way I can see them being persuaded is to get a professional tax accountant to give them information. However let me give You some extra suggestions.
After 10 working/qualifying years in the UK you will receive an UK pension as things currently stand. The amount will increase to the full amount as you accumulate more qualifying years.
If you take it abroad, it may not be index-regulated, however, which seems rather unfair
Article 9.1 a) of the personal income tax law of Spain provides for you to argue that you are exempt from paying the personal income tax in Spain.
However, article 107.1 of the general taxes law makes a big provision for the revenue services of Spain to demand you pay taxes in Spain, when combined with different articles of each tax law.
The combination of ...
It is not a "gift" in the US tax sense. Employer gifts are almost always taxable income in the US. There are exceptions for certain fringe benefits, but something from your employer that is either cash or has a direct cash value is basically never tax-free as a "gift." Shares in a publicly traded corporation have a readily knowable price, so this is like ...
According to this Deutsche bank fees and charges list PDF, it is free of charges if you withdraw cash from Spain Deutsche Bank branch.
This is stated on page 13:
Cash withdrawals by Deutsche Bank card holders :
Debit cards and SparCard (savings account card)
using a Deutsche Bank Card, Deutsche Bank Card Gold1),
Deutsche Bank Card Service, Deutsche Bank ...
Withdrawing from German account:
Look into the small print (services and fees document) of your accounts: these things are described there.
Deutsche Bank says that you can withdraw without fees at Deutsche Bank ATMs in Spain.
From Spain wiring money to your German account costs exactly the same as wiring money to a Spanish account (that's ...