Cashing Cheques from Isle of Man Bank Account

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dieter1

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I have some money from a property transaction in an Isle of Man bank account. Its not much, about €15,000. If I get a cheque sent over and lodged into my bank account, will alarm bells ring within my bank and will they contact the revenue regarding the cheque? I'm not evading tax as I didnt make any money out of the property deal, but dont want the hassle of having to dig up all the paperwork about how the deal went down etc.

Basically if I lodge the cheque into my bank account, will it raise any questions?
 
I can't be sure, but I feel that any cheques drawn on an Isle of Man account should not be queried, as there is (should be) an expectation that the bank in the Isle of Man will have satisfied themselves that the funds are legitimate. Note this does not apply to all countries, only EU member states and certain others.

Either way, if the funds are legitimate, you should have nothing to fear, right?
 
nothing to fear at all. The hassle of getting all the paperwork for the property transaction (it happened in 1998) and going through all the red tape with the revenue just doesnt appeal to me.

Somebody mentioned to me that cheques over €10,000 are 'flagged' to the revenue?
 
dieter1 said:
Somebody mentioned to me that cheques over €10,000 are 'flagged' to the revenue?
Click to expand...
I think it used to be IR£10K but is now c. €13K. However even transactions under these amounts can be (must be!) checked and/or reported by the financial institution if they have grounds for suspicion. See the [broken link removed] website.
 
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