venetia

Yes I agree....but we have to hope that the coaltion don't up it in the budget Reedster........no offence taken at all.......and I like a straight talking down, to earth Northerner so always up for a chat!!!! Good for you taking an accountancy course and yes please do pass on any info/ thoughts/ideas. My msn email is on my page if you want to pass on anything direct.

Hi Fellow Brit I'm from Sussex so I guess that makes me a soft fairy Southerner but you are still wecome to drop my and say Hi!! I bought my dinar from Teso, Natwest and RBS and will exchange back through one of those banks. What I then do remains to be seen! Just hoping it happens soon!! . That's great Reedster. I also posted about the tax last week. According to my accountant and also someone I know who used to work for Coutts, any gains made over £10,100 will be subject to capital gains which is currently 18%. I have verified this with 2 separate accountants. If you run your own business and have any losses you will be able to offset the gains you make on the dinar exchange against any business losses........hope thats helpful for now.

If you really feel the need to bash us 'silly' Brits I suggest you save it for the man whose name rhymes with flaire and who decided to get into bed with your President. and who now sits writhing and squirming at the mention of the word Iraq.................OFF WITH HIS HEAD!

That was a very enriching read, Mr Rich.......Thanks!

Interesting posts from both you and Mr Rich and part of me is inclined to agree with you both that this a possibility but like both of you I too remain positive for now that it will happen but it will be when THEY want it to...Simple as that.

I agree with you Brisco.

An interesting, logical and extremely sensible view point which makes a great deal of sense and is a welcome change to some of the posts which are clearly written in LA LA Land......thank you for sharing and I hope that people take the time to read and absorb it.

Well........even if it is made up at least it sounds plasuible and not like he is off with the fairies and that makes a change on here from what I read every day.

Reading the hard facts I'd say you are spot on.............a good level headed response....don't the Rothschilds own the Central Bank?

Presumably that may be applicable if it has been purchased and cashed in outside the UK then. If you have bought it here through one of the banks and cashed it back through one of the banks there is no way round it from what I understand. If it happens before April 5th the tax will be due before Jan 31st 2012.. If it happens after April 5th ithe tax will be due by January 31st 2013. It's also worth noting that if you run your own business and have incurred any losses for that tax year you will be able to offset any gains you make on this against those losses.... Just reporting what my accountant has advised me for those in the UK who are none the wiser.

Well let's keep hoping the Coalition don't take it upon themselves to whack it up in the budget!!!!

OUCH!!!!!!

WIsh mine was too

I am posting this in response to a a previous post asking about the tax situation on the UK after RV. I have checked with my acountant and also a tax expert who used to work for Coutts Bank and they have both told me that unless you can prove the profit has come from money used for a holiday - how many Brits would be buying up dinar ready to take an Easy Jet trip to Iraq!!!!! - any profit you make over £10,100 will be liable to capital gains tax which is currently 18%. There is no way around this, the money will not be treated as a windfall like winning the lottery and it doesn't matter what you end up doing with it you HAVE to pay capital gains on ANY amount over £10,100 so it is much the same as in the Sates only a smaller percentage. I hope this helps!!