Paying tax on a private pension

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Sep 18th 2023, 12:10 pm

#61

Sachina

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Joined: Nov 2013

Location: Borsod-Abauj-Zemplen Hungary

Posts: 729

Re: Paying tax on a private pension

Quote:

Originally Posted by Peter_in_Hungary

Thanks - I knew that the OAP can be paid quarterly, but we use it and my wifes OAP for daily living so 4 weekly is fine for us.

AFAIK there is no regulatory reason for UK banks not to give accounts to non residents, it is just the banks being reluctant to take the business.

It's due to the Anti-Laundering Regulations being more rigorously enforced. Many bank I think used it as an excuse for getting rid of their less profitable clients. My account is with a Building Society and although I get a good service, all communication has to be done through my DIL who has authority (not to be confused with power of attorney) to act on my instructions. I'm thinking of changing to one of my former SA banks who does online banking and is off shore.

https://sumsub.com/blog/kyc-aml-regulations-in-the-uk/