UK Savings A/c for non-UK residents ?
Oct 7th 2004, 7:29 pm
#1
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UK Savings A/c for non-UK residents ?
Anyone know any UK high interest savings accounts (preferably with online access) that are open to us once we have emigrated ??
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Oct 7th 2004, 7:37 pm
#2
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Joined: Jul 2003
Location: South Perth
Posts: 307
Re: UK Savings A/c for non-UK residents ?
[QUOTE=sjn2003]Anyone know any UK high interest savings accounts (preferably with online access) that are open to us once we have emigrated ??
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?[/QUOTE
ask your bank to send you a form to declare yourself non -resident. This enables you to be paid interest in gross. You can tell them u live in Oz, no problem.
I am with first direct - online and brilliant!
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
[/QUOTEask your bank to send you a form to declare yourself non -resident. This enables you to be paid interest in gross. You can tell them u live in Oz, no problem.
I am with first direct - online and brilliant!
Oct 7th 2004, 7:43 pm
#3
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Re: UK Savings A/c for non-UK residents ?
[QUOTE=salonit]
Yeah but they don't do a brilliant rate of interest, nor do the other high street banks.
Originally Posted by sjn2003
Anyone know any UK high interest savings accounts (preferably with online access) that are open to us once we have emigrated ??
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?[/QUOTE
ask your bank to send you a form to declare yourself non -resident. This enables you to be paid interest in gross. You can tell them u live in Oz, no problem.
I am with first direct - online and brilliant!
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
[/QUOTEask your bank to send you a form to declare yourself non -resident. This enables you to be paid interest in gross. You can tell them u live in Oz, no problem.
I am with first direct - online and brilliant!
Yeah but they don't do a brilliant rate of interest, nor do the other high street banks.
Oct 8th 2004, 12:29 am
#4
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Joined: Apr 2004
Posts: 34,649
Re: UK Savings A/c for non-UK residents ?
Originally Posted by sjn2003
Anyone know any UK high interest savings accounts (preferably with online access) that are open to us once we have emigrated ??
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Many UK banks no longer accept non-resident declarations. They will quite happily put an overseas address on an already-existing account, but will still deduct 20% tax. You can usually claim this back from the Inland Revenue.
What banks do you say are refusing to accept savings accounts from non-UK residents?
The Channel Islands and Isle of Man branches of UK banks will pay interest gross, but last time I checked the rates tend to be a bit lower than in onshore UK accounts unless you really have a fortune to invest.
Jeremy
Oct 8th 2004, 12:33 am
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Re: UK Savings A/c for non-UK residents ?
Originally Posted by sjn2003
Anyone know any UK high interest savings accounts (preferably with online access) that are open to us once we have emigrated ??
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Oct 8th 2004, 3:29 am
#6
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Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: UK Savings A/c for non-UK residents ?
Have you seen this site:
http://www.moneyfacts.co.uk/
In Australia, consider Citibank's Online Cash Manager account, paying 5.40%:
http://www.citibank.com.au
Others have already commented on the tax issues ... I'm not sure why gross paying interest is of importance given that you will be subject to tax in either the UK or in Australia ...
Best regards.
http://www.moneyfacts.co.uk/
In Australia, consider Citibank's Online Cash Manager account, paying 5.40%:
http://www.citibank.com.au
Others have already commented on the tax issues ... I'm not sure why gross paying interest is of importance given that you will be subject to tax in either the UK or in Australia ...
Best regards.
Originally Posted by sjn2003
Anyone know any UK high interest savings accounts (preferably with online access) that are open to us once we have emigrated ??
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Want to leave some ill-gotten gains in the UK for a while and all the top earning accounts say only open to UK residents.
Or is the answer to open here and not tell them when I go, just give them a UK address to forward mail to?? Could do this but won't get interest paid gross.
Any suggestions ?
Oct 8th 2004, 2:29 pm
#7
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Location: Coogee, Sydney
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Re: UK Savings A/c for non-UK residents ?
Originally Posted by JAJ
Australian residents are liable for tax on worldwide income, so you'll still have to pay tax even if you leave money in the UK.
Many UK banks no longer accept non-resident declarations. They will quite happily put an overseas address on an already-existing account, but will still deduct 20% tax. You can usually claim this back from the Inland Revenue.
What banks do you say are refusing to accept savings accounts from non-UK residents?
The Channel Islands and Isle of Man branches of UK banks will pay interest gross, but last time I checked the rates tend to be a bit lower than in onshore UK accounts unless you really have a fortune to invest.
Jeremy
Many UK banks no longer accept non-resident declarations. They will quite happily put an overseas address on an already-existing account, but will still deduct 20% tax. You can usually claim this back from the Inland Revenue.
What banks do you say are refusing to accept savings accounts from non-UK residents?
The Channel Islands and Isle of Man branches of UK banks will pay interest gross, but last time I checked the rates tend to be a bit lower than in onshore UK accounts unless you really have a fortune to invest.
Jeremy
Of the best buy accounts I tried Sainsbury, Alliance & Leicester and ING Direct and they all said no
Think I will just have to set it up before I go and not tell them when I leave !Wanted gross interest Alan purely for cashflow purposes. Fully aware that I will have to pay tax on it in Oz. Cheers for the link - Moneyfacts best buys are the same as those I have already tried though.
Oct 9th 2004, 1:58 am
#8
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Re: UK Savings A/c for non-UK residents ?
Originally Posted by sjn2003
Of the best buy accounts I tried Sainsbury, Alliance & Leicester and ING Direct and they all said no Think I will just have to set it up before I go and not tell them when I leave !
Think I will just have to set it up before I go and not tell them when I leave !It sounds unusual for a *savings* account to be similarly restricted - I'm just wondering if your question was beyond the limit of the people working at the call-centre front line and whether speaking to a manager/supervisor might have been more productive.
Jeremy
