Opening an account from abroad

eeja

Aegis wrote: »

Errr, no. I fill in R105 forms all the time for customers. It allows non-ordinarily residents to claim their interest tax free if they are spending less time in the UK than the minimum threshold for income tax to apply, and essentially works on the assumption that they fall under another country's tax jurisdiction.

The form is here: http://www.hmrc.gov.uk/forms/r105.pdf

I'M afraid you are confusing the issue or as an old friend of mine like to say with a smile ; you have got things ar-se about face .
I will repeat the law : YOU ARE TAXABLE ON ALL YOUR EARNINGS ARISING IN THE UK whether you are non resident, not ordinarily resident or never even been to the UK."
Your point concerned the payment of tax gross or net and whether deducted or not deducted by the banks etc NOT the liability to tax which is a completely different matter .

BritRael

gozomark wrote: »

Why is N/W so popular with expats ? Because their debit card is the best thing since sliced bread ! Use it in ATM'S around the world and you get the interbank exchange rate and are not charged a penny for usage . No expat should be without them .

but how does an expat get one ??

Very easy. Apply for their FlexAccount. As gozomark said, its excellent. I'm an expat (have been for donkeys years) and have had one for longer than I can remember. This allows me to travel the world and get my local currency in the destination airport (which used to be a total no-no ) from an ATM without charge and at the current mid-rate.

If you are an expat who is still resident in the UK, you do not need the form (quoted many times here) however to get your interest free of tax. You would need the R85, which is for expats who are 'non-resident for tax purposes'. i.e. (very briefly) live in the UK but work overseas and return to the UK for less than an average of 90 days/year. However, the other form is for people coming to the UK or for Brits leaving the UK to live overseas, therefore now 'not normally resident'.

To get back to the original question of this thread, I have opened 2 accounts online from abroad (outside the UK) in the last month; 1 with Egg and 1 with CitiBank. Both were very easy/quick (relatively) to open.

gozomark

Very easy. Apply for their FlexAccount

so they didn't ask for a proof of UK address, utility bill etc ?

according to http://www.nationwide.co.uk/current_account/Important_information.htm

Our FlexAccount is only available if you are aged 16 or over and live in the UK. You must be 18 or over to apply for an overdraft.

how did you get round this ?

musicman100

eeja wrote: »

REPLY

Nationwide like many UK institutions, insurance Co's etc etc have a published rule that their accounts are for UK residents only .

That is not true for Nationwide since they send my statements to Austria where I live - so you are allowed an account if you live abroad.

musicman100

This is very strange - looking at the terms and condition for my account which is a Flex account it say:-

• Our FlexAccount is only available if you are aged 16 or over and live in the UK. You must be 18 or over to apply for an overdraft.
• We will take income tax from the interest at the lower rate (currently 20%) unless you are registered to receive interest without tax taken off by HM Revenue & Customs

But they send me statements in Austria!!! I run the account totally from here. I also have some other ones that I run from here and I have never had any problems with any of them.

With regard to interest I don't claim it gross because I would pay more tax on my interest here in Austria. The inland revenue does tell other tax authorities who has registered for gross interest but whether that country chases those people up is any one guess!!

gozomark

musicman

were you resident in the UK when you opened the account ?
(or atleast give them a UK address)

did they query when you gave an Austrian address ?

gozomark

BritRael wrote: »

To get back to the original question of this thread, I have opened 2 accounts online from abroad (outside the UK) in the last month; 1 with Egg and 1 with CitiBank. Both were very easy/quick (relatively) to open.

when you opened the accounts did you give a UK address or only the one overseas ?

I just spoke to Egg and asked if I could open an account with an overseas address and they said no (actually I only mentioned a credit card, but I'm guessing same rule for savings??)

musicman100

gozomark wrote: »

musicman

were you resident in the UK when you opened the account ?
(or atleast give them a UK address)

did they query when you gave an Austrian address ?

I opened the account in the UK before I moved out here. I was scared to tell them I moved because I did not want to loose the account!! I rang them and said " I am moving to Austria ( in fact I was already there!) is it possible to still have an account when I do move? " They said no problem just give us your new address.

Since then I have opened loads of account form aboard and I just give my Mums address and I am not on the electoral roll there either. In most cases they do not even ask for any documents!! I just do it all on-line form here. They know I am not in the UK because of my IP address but I have a good credit score so they don't mind.;)

BritRael

gozomark wrote: »

Very easy. Apply for their FlexAccount

so they didn't ask for a proof of UK address, utility bill etc ?

according to http://www.nationwide.co.uk/current_account/Important_information.htm

Our FlexAccount is only available if you are aged 16 or over and live in the UK. You must be 18 or over to apply for an overdraft.

how did you get round this ?

For me, I live in the UK, but I work overseas most of the year; therefore, I am an expat and 'non resident for tax purposes'. er...I am also (ever so slightly) over the age of 16 (plus about 250% VAT!!)

In the case of Nationwide, as stated earlier, I opened the account so long ago I cannot remember what proof they asked for, but I have been asked for proof when opening other accounts (although the resent accounts that I have opened; Egg & Citi did not ask for anything). When asked, I usually provide scanned and e-mailed copies of bank statements. Reason being, all my utilities are in the name of my missus!

gozomark

[musicman100]Since then I have opened loads of account form aboard and I just give my Mums address and I am not on the electoral roll there either. In most cases they do not even ask for any documents!!

thanks ! when they have asked for documents, what have they asked for ?