ISAs and Residence

Old Mar 28th 2011, 1:41 pm
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Default ISAs and Residence

Just signed up for a new ISA for Bahtatgirl, who lives in UK. One of the statements she must confirm is that she is resident and ordinarily resident in UK.

Are all new ISAs restricted to those who are resident and ordinarily resident?
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Old Mar 28th 2011, 1:42 pm
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Default Re: ISAs and Residence

Originally Posted by Bahtatboy View Post
Just signed up for a new ISA for Bahtatgirl, who lives in UK. One of the statements she must confirm is that she is resident and ordinarily resident in UK.

Are all new ISAs restricted to those who are resident and ordinarily resident?
Yes.
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Old Mar 28th 2011, 1:45 pm
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Default Re: ISAs and Residence

Ta (strewth, that was quick and succinct).

Let's try this. If I (arguably being not resident and not-ordinarily resident) have an ISA that pre-dates my current residence status, can I pay into it?
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Old Mar 28th 2011, 1:46 pm
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Default Re: ISAs and Residence

Originally Posted by Bahtatboy View Post
Ta (strewth, that was quick and succinct).

Let's try this. If I (arguably being not resident and not-ordinarily resident) have an ISA that pre-dates my current residence status, can I pay into it?
No


You can keep it, but you cannot add to it and I believe it is also not possible to transfer it.
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Old Mar 28th 2011, 1:49 pm
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Default Re: ISAs and Residence

That answer in under a minute, too. Blimey, you're good.

Thanks, Meow.

Right, more Premium Bonds.
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Old Mar 28th 2011, 1:54 pm
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Default Re: ISAs and Residence

Originally Posted by Bahtatboy View Post
That answer in under a minute, too. Blimey, you're good.

Thanks, Meow.

Right, more Premium Bonds.
I just happend to log in right after you posted.

Returns on Premium Bonds are lousy. You will also have to do them in your wife's name as you aren't supposed to eligible for those either.
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Old Mar 28th 2011, 2:14 pm
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Default Re: ISAs and Residence

Originally Posted by Meow View Post
Returns on Premium Bonds are lousy. You will also have to do them in your wife's name as you aren't supposed to eligible for those either.
I've always done well out of Premium Bonds, but I know its the luck of the draw.

I don't recall seeing anything on the NSandI website about residency for them--is it hard and fast?
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Old Mar 28th 2011, 2:18 pm
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Default Re: ISAs and Residence

Originally Posted by Bahtatboy View Post
I've always done well out of Premium Bonds, but I know its the luck of the draw.

I don't recall seeing anything on the NSandI website about residency for them--is it hard and fast?
It's vaguely written and if you use a UK address you probably won't have a problem. (If you want dull and safe, I may have other options if you want to email me.)
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Old Mar 28th 2011, 2:50 pm
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Default Re: ISAs and Residence

Originally Posted by Meow View Post
No


You can keep it, but you cannot add to it and I believe it is also not possible to transfer it.
I'm sure that bird what writes in The National said that if you'd started one before you came here you could continue to pay into it
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Old Mar 28th 2011, 3:03 pm
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Default Re: ISAs and Residence

Originally Posted by Sandboy View Post
I'm sure that bird what writes in The National said that if you'd started one before you came here you could continue to pay into it
No she didn't. She said if you had one already you can keep it but you cannot pay any more into it once you have left the UK.

You may be confusing ISAs with personal/stakeholder pensions. If you have one of those up and running before you leave you can continue paying into to for up to five years, subject to a gross contribution of £3,600 per annum.



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Old Mar 28th 2011, 7:52 pm
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Default Re: ISAs and Residence

I have Premium bonds registered to my AD address and bought since I have been here.
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Old Apr 4th 2011, 11:40 am
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Default Re: ISAs and Residence

Originally Posted by Meow View Post
No she didn't. She said if you had one already you can keep it but you cannot pay any more into it once you have left the UK.

You may be confusing ISAs with personal/stakeholder pensions. If you have one of those up and running before you leave you can continue paying into to for up to five years, subject to a gross contribution of £3,600 per annum.



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With regard to the personal/stakeholder pensions......I wasn't aware of the 5 year rule. What happens after 5 years of contributing after you leave the UK ?

Thanks
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Old Apr 4th 2011, 2:21 pm
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Default Re: ISAs and Residence

Originally Posted by Mogs View Post
With regard to the personal/stakeholder pensions......I wasn't aware of the 5 year rule. What happens after 5 years of contributing after you leave the UK ?

Thanks
You are supposed to stop contributing. A few providers will allow you to continue but you wouldn't get any tax relief so that would make it rather pointless.

Bear in mind that the pension plan has to be in force before you actually leave the UK.
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Old Apr 5th 2011, 5:29 am
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Default Re: ISAs and Residence

Originally Posted by Meow View Post
You are supposed to stop contributing. A few providers will allow you to continue but you wouldn't get any tax relief so that would make it rather pointless.

Bear in mind that the pension plan has to be in force before you actually leave the UK.
Plan was in force before I left, 5 years is up later this year. I guess I'll just wait and see what happens.
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Old Apr 5th 2011, 7:52 am
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Default Re: ISAs and Residence

Originally Posted by soukie View Post
I have Premium bonds registered to my AD address and bought since I have been here.
I used my sister-in-law's address but when she passed on, I gave the Bonds a change of adds to Dubai, and it was accepted by them. No winners after 38years though!
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