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'off-shore investment'

Can anyone advise where I can deposit a periodical income (cheque) of under £10K in a 'safe' overseas accessible account ? Enquiries so far have stipulated that I must be an 'ex-pat', live overseas,or off-shore investor, etc etc BUT not a UK resident. I am retired but am darned if I am prepared to help Mr Brown tax my hard earned 'little earner' and wonder if there is anywhere that I can have relatively medicocre funds deposited that I can use a tax free system without 'breaking the law' ?

Comments

  • lipidicman
    lipidicman Posts: 2,598 Forumite
    I will be the first to ask if you already have an ISA. A little more information will be useful. For starters, you dont make clear the amount or the frequency of the cheques.
  • If you're a UK resident then you have to pay UK income tax on all your income, wherever in the World it's earned. Simply putting it in an offshore account wouldn't help. However there are tax free options such as pensions or ISAs. Alternatively you could put the money into investments that are liable for capital gains tax rather than income tax (assuming you're not over the CGT threshold).
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