I have savings with my UAE based bank but I’m keen to take advantage of the Lower pounds vs the Dirham.
I dont want to pay tax so could someone confirm if that will happen? If so how do I avoid it?
Also, I want to make sure I pay the least amount of fees and avoid losing on the exchange, anyone have a contact or experience in this?
If you are resident in the UAE then, by definition, you are not UK resident for tax purposes – so there are no taxes to pay.
There are a whole range of money transfer companies available in the UAE – the best thing to do is to shop around online.
Be careful about trying to take a short term advantage of FX rates – if you plan to send the funds to the UK and leave them there that’s one thing. But if you’re planning to move them now to get a good deal and move them back later when the GBP recovers then you could well end up losing out – FX trading isn’t something to be dabbled in.