Retirement fund options in the UK
#1
Retirement fund options in the UK
I am getting rental income in the UK, and the exchange rate is not good. Has anyone found a worthwhile option for adding to a retirement fund. I believe you can only add to a personal pension if you are resident and may have tax implications.
Just wondering what other people have done
Just wondering what other people have done
#2
Re: Retirement fund options in the UK
Thinking it through:
I guess that your UK rental income is taxable in the USA where you are resident, not the UK. (This was the case for my UK rental income when I was resident in Canada). I think this means that if you pay the money into a UK pension fund you will not get tax relief, so there isn't much point in doing so.
But there is nothing to stop you investing the money in other UK funds, bearing in mind that you will still have to pay tax in the USA on the rental income itself and any interest earned.
I guess that your UK rental income is taxable in the USA where you are resident, not the UK. (This was the case for my UK rental income when I was resident in Canada). I think this means that if you pay the money into a UK pension fund you will not get tax relief, so there isn't much point in doing so.
But there is nothing to stop you investing the money in other UK funds, bearing in mind that you will still have to pay tax in the USA on the rental income itself and any interest earned.
#3
Re: Retirement fund options in the UK
Thinking it through:
I guess that your UK rental income is taxable in the USA where you are resident, not the UK. (This was the case for my UK rental income when I was resident in Canada). I think this means that if you pay the money into a UK pension fund you will not get tax relief, so there isn't much point in doing so.
But there is nothing to stop you investing the money in other UK funds, bearing in mind that you will still have to pay tax in the USA on the rental income itself and any interest earned.
I guess that your UK rental income is taxable in the USA where you are resident, not the UK. (This was the case for my UK rental income when I was resident in Canada). I think this means that if you pay the money into a UK pension fund you will not get tax relief, so there isn't much point in doing so.
But there is nothing to stop you investing the money in other UK funds, bearing in mind that you will still have to pay tax in the USA on the rental income itself and any interest earned.
I haven't found many UK fund options in the US. Buying UK stocks in the UK is a US tax headache.
Maybe buy some lotto tickets , not sure if that's an option being a non resident.
Last edited by mrken30; Jan 6th 2017 at 2:16 pm.
#4
Re: Retirement fund options in the UK
Ha Ha.
Presumably you have a UK bank account. Look into what they offer in the way of savings accounts, or even interest bearing current accounts.
Presumably you have a UK bank account. Look into what they offer in the way of savings accounts, or even interest bearing current accounts.
#5
Re: Retirement fund options in the UK
yes, they recently reduced the rates to 0.05% and I thought US interest rates were low. It wasn't so bad when it was 0.5%.
#6
Re: Retirement fund options in the UK
Spreading your cash across different accounts and keeping below the threshold will get you between 3 - 5%:
Savings accounts: 5% easy access or up to 2.01% fixed
Savings accounts: 5% easy access or up to 2.01% fixed
#7
Re: Retirement fund options in the UK
Spreading your cash across different accounts and keeping below the threshold will get you between 3 - 5%:
Savings accounts: 5% easy access or up to 2.01% fixed
Savings accounts: 5% easy access or up to 2.01% fixed
#8
Re: Retirement fund options in the UK
Spreading your cash across different accounts and keeping below the threshold will get you between 3 - 5%:
Savings accounts: 5% easy access or up to 2.01% fixed
Savings accounts: 5% easy access or up to 2.01% fixed
#9
Re: Retirement fund options in the UK
It is awkward.
MrBEVS has a bit of UK sterling in the UK after his Mum passed away last year but the exchange rate is so poor we are loathe to bring it over. Yet he has no way to put it anywhere where it might earn a little interest so it just sits in a band a/c doing nothing.
MrBEVS has a bit of UK sterling in the UK after his Mum passed away last year but the exchange rate is so poor we are loathe to bring it over. Yet he has no way to put it anywhere where it might earn a little interest so it just sits in a band a/c doing nothing.
#10
Re: Retirement fund options in the UK
Premium bonds? I don't think there is any bar on holding them if you are outside the UK.
#11
Re: Retirement fund options in the UK
United Kingdom ETF List, Screener & News | ETF.com
My Fidelity IRA lets me buy EWU funds. I am thinking this will at least keep inline ish with the UK pound. Similar to investing in a UK pension fund.
Last edited by mrken30; Jan 8th 2017 at 2:05 am.
#12
Re: Retirement fund options in the UK
I don't understand how the US could stop people holding UK premium bonds. How does it enforce this?
#15
BE Enthusiast
Joined: Oct 2011
Location: UK
Posts: 745
Re: Retirement fund options in the UK
The first mailing that came to US from NS&I had a US Postal sticker attached saying that it is illegal to have gambling materials sent through US Post.
I dont recall if the envelope had anything on it to indicate source or contents and if not how they could otherwise know, but they did.
Last edited by J.JsOH; Jan 8th 2017 at 3:38 pm.