Travellers coming and going from the UK have been reminded by
HM Revenue & Customs
that a cash declaration rule will soon come into force.
From 15 June, people who are travelling from the UK to a non-EU country and
are carrying 10,000 euros (£6,800) or more on their departure wiil have to
declare it to the taxman when they leave UK shores. If they are bringing
cash into the UK from a non-EU country they will be required to declare the cash
on their arrival.
Travellers could face a penalty of up to £5000 if they fail to comply with
the obligation to declare, or provide inaccurate information.
HMRC’s head of criminal and enforcement policy Dave Humphries, told
‘The declaration system is one means of providing information to assist HMRC in
targeting movements of criminal cash more effectively.’
Forms on which to make the declaration will be available at ports or airports
and will also be downloadable from the HMRC website.
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