ISA's and PEP's - To move or not to move?
Jan 24th 2006, 12:13 pm
#1
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ISA's and PEP's - To move or not to move?
We are emigrating to NZ in April this year (My wife's a kiwi and I have a visa all sorted out). We are currently wondering how best to deal with our ISA's and PEP's - we understand that we can continue to hold such investments in the UKL even if we're not domiciled here but we aren't allowed to contribute to them once we leave the country. However, of more importance is how NZ will treat the investments - i.e. will growth of the investments be taxed?
Anyone know how NZ treats such investments?
Cheers,
Cs.
Anyone know how NZ treats such investments?
Cheers,
Cs.
Jan 28th 2006, 3:13 am
#2
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Posts: 34,649
Re: ISA's and PEP's - To move or not to move?
Originally Posted by southc
We are emigrating to NZ in April this year (My wife's a kiwi and I have a visa all sorted out). We are currently wondering how best to deal with our ISA's and PEP's - we understand that we can continue to hold such investments in the UKL even if we're not domiciled here but we aren't allowed to contribute to them once we leave the country. However, of more importance is how NZ will treat the investments - i.e. will growth of the investments be taxed?
The fact they are tax free in the UK does not mean anything to New Zealand - income (interest and dividends) will almost certainly be subject to NZ tax.
Although as far as I know, New Zealand does not have a capital gains tax.
Check http://www.ird.govt.nz
Jeremy
Jan 28th 2006, 1:43 pm
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Re: ISA's and PEP's - To move or not to move?
Originally Posted by JAJ
The fact they are tax free in the UK does not mean anything to New Zealand - income (interest and dividends) will almost certainly be subject to NZ tax.
Although as far as I know, New Zealand does not have a capital gains tax.
Check http://www.ird.govt.nz
Jeremy
Although as far as I know, New Zealand does not have a capital gains tax.
Check http://www.ird.govt.nz
Jeremy
Cheers,
Cs.
Jan 28th 2006, 10:00 pm
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Re: ISA's and PEP's - To move or not to move?
Originally Posted by southc
Thanks for the reply - so, if we ensure that all funds are accumulators (i.e. no income element) then, in theory, we should be okay as there's no CGT to be paid on any growth. I'll check this out on the NZ IR site.
Jeremy
