Can I buy an ISA?

Old Apr 2nd 2008, 4:14 am
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Default Can I buy an ISA?

Are there any restrictions on me buying an ISA in the UK while living here
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Old Apr 2nd 2008, 5:37 am
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Default Re: Can I buy an ISA?

Yes. Non-residents may not invest in ISAs (whether cash or equity). Existing plans may be maintained.
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Old Apr 2nd 2008, 6:50 am
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Default Re: Can I buy an ISA?

Originally Posted by Meow View Post
Yes. Non-residents may not invest in ISAs (whether cash or equity). Existing plans may be maintained.
Thanks Meow - very clear.

As I have only arrived here in the past 3 months - with the significant majority of my 2007-08 tax year spent in the UK is there one last chance to take advantage or is this still a no-no?
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Old Apr 2nd 2008, 6:53 am
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Default Re: Can I buy an ISA?

Originally Posted by Meow View Post
Yes. Non-residents may not invest in ISAs (whether cash or equity). Existing plans may be maintained.
Meow, I have a quick (hopefully) question for you re: Non-Residency...

Although I have worked outside the UK for the last 7 years, I have always ben paid out of our UK payroll dept. Consequently, I have always just paid my Income Tax and then self-assessed every year and claimed under the sub-90 day rule....

Am I correct in saying that I am technically classified as resident and therefore able to take advantage of all that means with regards ISA's etc???
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Old Apr 2nd 2008, 8:21 am
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Default Re: Can I buy an ISA?

Originally Posted by ssuh View Post
Are there any restrictions on me buying an ISA in the UK while living here
The question is why would you want one while living and working here? You can get very attractive offshore bonds and investments, some with capital protection and all tax free while you're here

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Old Apr 2nd 2008, 10:29 am
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Default Re: Can I buy an ISA?

Originally Posted by ssuh View Post
Thanks Meow - very clear.

As I have only arrived here in the past 3 months - with the significant majority of my 2007-08 tax year spent in the UK is there one last chance to take advantage or is this still a no-no?

In that case you can still get one, but you'd have to be quick. Are you talking a cash ISA? If so, I wouldn't bother personally as you can get gross interest on deposit accounts as a non-resident.


Norm - there is an advantage of unit trusts over bond structures though. Lower charges & more flexibility, especially if bought through a platform.
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Old Apr 2nd 2008, 10:29 am
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Default Re: Can I buy an ISA?

Originally Posted by ScotsExpat View Post
Meow, I have a quick (hopefully) question for you re: Non-Residency...

Although I have worked outside the UK for the last 7 years, I have always ben paid out of our UK payroll dept. Consequently, I have always just paid my Income Tax and then self-assessed every year and claimed under the sub-90 day rule....

Am I correct in saying that I am technically classified as resident and therefore able to take advantage of all that means with regards ISA's etc???
What does HMRC class you as for tax purposes though?
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