Hight Interest Offshore Savings?

RuthFraser

I'm moving to the Antarctic in a few weeks and will be working abroad 8 months out of 12 each year. Can anyone suggest a good savings account? Am I still eligible for an ISA?

moonrakerz

Icesave ? (sorry !)

Baldur

As far as your ISA query is concerned, see HMRC ISA Leaflet:

Moving abroad

You can only subscribe to an ISA if you are resident and ordinarily resident in the UK for tax purposes. Overseas residents are not eligible to apply for an ISA. If you are unsure about this, call our Centre for Non-Residents on

• 0845 070 0040 (UK) or
• 44 151 210 2222 (from abroad).

If you cease to be a UK resident while you already have an ISA open, you will no longer be able to put money into it. However, you will still be able to keep your ISA open and you will still be entitled to the tax benefits on investments held in the ISA. If you then return to be UK resident and ordinarily resident, you can start putting money in again.

RuthFraser

Thanks for the advice! We are UK domicile non-resident, does that make any difference?

Baldur

RuthFraser wrote: »

Thanks for the advice! We are UK domicile non-resident, does that make any difference?

The leaflet suggests that you would not be able to open new ISAs, as you are not "resident and ordinarily resident in the UK for tax purposes".

Suggest that you ring the helpline number given above for advice.

Porcupine

Are you working for the British Antarctic Survey? You might want to check with them what the legal status of the British Antarctic Territory is because I suspect they've come across these sorts of legal issues before. If you're on one of the other nations' bases then they may be sovereign territory of that state and allow you to have access to services from that country. There may be complications if your postal address is in the UK but you aren't resident (unless it really is possible to post letters to 'Rothera Research Station, Antarctica')

For offshore savings accounts targeted at British ex-pats, try:
http://www.moneyfacts.co.uk/money/offshore/1/offshore-interest.aspx
(click on 'Offshore savings search' to be more specific about your requirements)