Non-taxpayer's options?

christo_2

Hi all,

I'd be grateful for advice on a sum of ca. 25,000 to save, being non-resident in the UK and thus non-taxpayer also.

I plan travelling to further foreign lands in the months to come and financing my expenses from this sum.

Having read already (right here!) about the benefits of the Nationwide debit card overseas, access to travelling funds are intended to be "drip-fed" into this account.

Could someone please post suggestions on how to maximise interest on the bulk sum while retaining accessibility? I think things are a little different when not paying UK taxes and very little on this board actually tackles such topics.

One thing that did appeal was a Cahoot instant access account paying interest monthly, but any smarter suggestions would be gratefully received. Internet access also to the "bulk" account would, of course, be essential.

Thank you!

grumbler

christo wrote:

Could someone please post suggestions on how to maximise interest on the bulk sum while retaining accessibility? I think things are a little different when not paying UK taxes and very little on this board actually tackles such topics.

I don't see anything different. Just choose good easy-access account and submit R85 form to have interest paid gross. I don't see any difference for you between interest paid monthly or yearly. Consider A&L Online Saver or do your research: see links Moneysupermarket* and Moneyfacts in the blue box above.