I am resident in the UK, I am a freelancer and my client wish to pay in EUR. I have been checking different options for getting paid in my current Business account or either create a Foreign Currency account but it is not cheap for the level of income I will get in the year. I have a personal account in EUR in Spain which I thought I could give to my client to transfer the EUR, I would then use TransferWise to transfer the EUR to GBP which looks the economic option, I will then declare this income for tax purposes in the UK. May do you know if that is legal? I am unsure either if Spanish Tax Authorities will require pay any tax on that amount but in that case it would be Double Taxation? Many thanks for you help!
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I really wish people would find professional assistance for this type of question. This is why many small business get into trouble with administration, tax authorities and so on. Voted to close.– user3244085Jan 26, 2017 at 6:58
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Have a chat with either an accountant or HMRC... Strictly speaking you should pay tax int he UK, but that intermediate PERSONAL spanish bank account is going to complicate matters– JohnHCJan 26, 2017 at 15:44
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I spoke to HMRC today and they advised that should be fine. I will speak soon to Tax Authorities in Spain to find out.– J. LosJan 26, 2017 at 16:21
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Just confirmed with "Agencia Tributaria" in Spain which is the relevant HMRC there, and no implications neither, yes, I told them it was a personal account and still no implications. Well, let's see if that works out! Thank you for comments and I hope this post can help someone else with same issue.– J. LosJan 27, 2017 at 13:32
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