Bahtatboy

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?

Meow

Yes.

Bahtatboy

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?

Meow

No


You can keep it, but you cannot add to it and I believe it is also not possible to transfer it.

Bahtatboy

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

Thanks, Meow.

Right, more Premium Bonds.

Meow

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.

Bahtatboy

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?

Meow

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.)

Sandboy

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

Meow

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.



I bore myself too

soukie

I have Premium bonds registered to my AD address and bought since I have been here.

Mogs

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

Meow

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.

Mogs

Plan was in force before I left, 5 years is up later this year. I guess I'll just wait and see what happens.

Jim Smith

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!