I’m delighted that a world-class fintech company like World Remit is choosing Leap Frog as its partner for growth in the emerging markets.” The second area World Remit is hoping to expand is in Asia.
Specifically, the company is planning to open a new office in the Philippines with 100 more employees, to help build out its business in that region This is also notable.
We can identify what has been remitted and how much is liable for tax.
However, if such an overseas bank account is in frequent use, the administrative and professional cost of undertaking such an analysis on each transaction can often surpass the UK tax on a remittance itself.
Therefore, we can offer to arrange your financial affairs prior to remitting funds in the future.
We can help you separate the different strands of your income into segregated bank accounts and ensure that the least tax need be paid when you bring money into the UK.
This represents a decent leap for the startup, which was valued at 0 million when it last raised money — million in February 2016.
Ismail Ahmed, who co-founded World Remit with Catherine Wines and is its CEO, said in an interview that the idea will be to use the funding in three key areas.
Also, we have found that often UK resident non-doms pay more tax than is necessary on funds brought to the UK.
Therefore, we cannot recommend highly enough the benefits of planning for remittances with segregated bank accounts long before becoming UK tax resident in order to be able to demonstrate the clean nature of your remittances.