Currency Exchange

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of Melosine Melosine 10 years, 2 months ago.

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  • #52250
    Profile photo of Anonymous
    Anonymous
    Participant

    I have a friend who receives their income in Euro’s but lives in the UK so regularly has to transfer euro’s to sterling.

    Is it legal for this person to transfer euro’s into my Spanish account and I transfer the equivalent in sterling to his UK account?

    I do not rent out my property and I am concerned that the Spanish taxman may view this transfer to my account as rental income.

    Any thoughts welcome.

  • #65803
    Profile photo of Melosine
    Melosine
    Participant

    In todays society it could possibly be looked on as money laundering.
    There is no absolutely no reason why your friends’ “income” should not be paid into an account in the country from whence it comes and he transfers it to his bank in the UK.
    Personally I would be concerned.

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