A new European Union (EU) law on travellers declaring cash came into force last Friday 15th June. It is being introduced to help combat money laundering but could prove yet another hassle at the airport.

A new European Union (EU) law on travellers declaring cash came into force last Friday 15th June. It is being introduced to help combat money laundering but could prove yet another hassle at the airport.

People who are either entering the UK from a non EU country such as Turkey, or are travelling from the UK to a non EU country and are carrying 10,000 Euros (£6,700) or more (or the equivalent in other currencies) will be required to declare the cash to HM Revenue & Customs (HMRC) at the place of their departure from, or arrival in, the UK. “Cash” not only means currency notes and coins but also bankers’ drafts and cheques of any kind (including travellers’ cheques).

Forms on which to make the declaration will be available at ports or airports and will also be downloadable from the HMRC internet site. Travellers could face a penalty of up to £5,000 if they fail to comply with the obligation to declare or provide incorrect or incomplete information.

Dave Humphries Head of Criminal and Enforcement Policy (HMRC) said: “The declaration system is one means of providing information to assist HMRC in targeting movements of criminal cash more effectively.”

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