scotfree wrote:I left UK many years ago & have no Bank account there now,just a building society account in Gibraltar which only issues in cheques so I would have the same problem.However just been into Bankia & asked if the amount was cleared(7 days later).They took my book & passport & "Computer says YES".So I am pleased.By the way,just in case you are unaware of this--- The Spanish hacienda allows a British national to have up to 50,000 euros in Gibraltar & needs only declare the interest on it on your annual fiscal resident tax return,which is now minimal so won't cause a panic! Over that amount you need to declare the full amount . I had a sterling cheque some years ago so did this & it helps reduce my tax in Spain quite legally.I just hope this will continue after Brexit.
The Spanish tax regime allows any resident, foreigner or otherwise, to have up to a maximum of Eu 50,000 of assets in each of three categories (banks/savings, property and pensions/bonds/investments)
worldwide. If the Eu 50k limit is exceeded in any category, then it is eligible for tax, but only on the income, not the asset itself. The exception to this is Spanish wealth tax, but you'd have to have assets in excess of Eu 700k before this becomes applicable.
It used to be that you couldn't open a bank account in the UK if you didn't live there (although you could continue to hold one that you'd opened before you left the UK), but there are several UK banks now offering accounts to non-UK residents. As all European tax regimes (including the UK) demand declaration of
worldwide assets, it may be convenient for people who receive regular cheque payments to open a UK bank account if they don't already have one, especially as it makes no difference to their tax declaration.