Travellers carrying large amounts of money into or out of the United Kingdom may be required to declare the funds to customs authorities.
Under the rules, anyone travelling between Great Britain and a country outside the United Kingdom with £10,000 or more must make a declaration.
The requirement also applies to families and groups travelling together. Where the combined amount being carried reaches or exceeds £10,000, a declaration is required even if no single traveller is personally holding that amount.
Declarations can be made up to 72 hours before travel.
Different thresholds apply to Northern Ireland. Anyone carrying €10,000 or more, or the equivalent in another currency, between Northern Ireland and a country outside the European Union must declare it.
A declaration is also required when travelling from Great Britain to Northern Ireland with €10,000 or more.
However, travellers moving from Northern Ireland to Great Britain are not required to make a cash declaration regardless of the amount carried.
The rules extend beyond banknotes and coins. They also cover bearer bonds, travellers’ cheques and signed cheques that are not made payable to a named person or organisation.
For Northern Ireland, covered assets may also include money orders, gold coins, bullion, nuggets and prepaid cards.
Travellers making a declaration are expected to provide information about the owner and intended recipient of the money, the route of travel, the amount and type of funds, the source of the money and its intended use.
Those leaving the United Kingdom must complete the declaration before departure, while people arriving can declare before travelling or when they reach customs.
Declarations may be made online or by telephone.
Failure to declare when required can result in enforcement action, including seizure of the money by Border Force officers.
Travellers carrying substantial amounts are therefore advised to confirm the applicable rules before beginning their journey.
