Posted overseas and unable to open building society acct

allen4792

We are currently based in Gibraltar with the Royal Navy and have just been refused a savings account with West Bromwich Building Society as we are not UK residents...How can HM armed forces not be UK residents??? Any one else had problems with this?

stephenni1971

For all purposes whilst serving overseas with the Armed Forces you are still counted as a UK resident.

If you are stuck try Abbey as they have a lot of forces clients.

cgsac

You can open one. If it is online you must provide a UK postcode, i use the BFPO as per the following'''

J Bloggs
Blankets Dept
HMS Sangria
BFPO XXX London
Nw7 1PX

For all tax and residency purposes you are UK based (you pay tax as a UK based person), your local HIVE/AFF (or navy equivalent office) will be able to help.

Also look at Forces Financial. Dont take no from a desk-bound call centre flunkey.

Andy_L

Is there any option to open a Gib based savings account & avoiding UK income tax on your savings?

Trying_to_be_good

Andy_L wrote: »

Is there any option to open a Gib based savings account & avoiding UK income tax on your savings?

Nope - treated as UK resident for tax purposes, so all income is taxable in the UK.

On the savings account bit - technically any financial institution can refuse anyone (so long as it's not illegal discrimination), but the bad press generated by refusing Armed Forces personnel serving overseas would normally prevent this.

If accounts are for specific geographic areas (often for smaller buidling societies and credit unions), or certain professions and you don't fulfil that criteria, then you're likely to be refused.

Cash ISA accounts are allowed for Service Personnel and spouse/civil partners only, not children (normal UK rules are everyone aged 16+).

AFF_company_representative

Hi,

We have come across something similar before with regard to online savers, and spoke with a couple of online banks to try and clarify the situation. The response was that BFPO, along with PO Box and c/o addresses, are not normally accepted as permanent addresses, and the banks require permanent addresses in order to fulfil their reporting requirements to HMRC at the end of the tax year. This information related specifically to online savers, whereas high street banks might have systems in place to deal with BFPO customers.

The advice given was that Service personnel posted temporarily overseas can open or maintain accounts as long as they have an alternative permanent address in the UK.

HTH
AFF