Moving Abroad URGENT HELP

themanfromamarillo

Hi, I'm moving abroad next week and having got all my tax status stuff sorted out I've now been told by Egg to close my savings account as I'm not going to be a UK resident. Do any of you know any accounts that are opent to people who leave the country (but will return in 3 years) and is there anywhere I can get a list of banks that accept the inland revenue form R105?

EdInvestor

Oh dear. Most banks will allow you to keep accounts that you already have when you go overseas, but none of them will allow you to open new ones if you are non resident.

themanfromamarillo

It turns out (having phoned them) that I can keep my account as I'll still have an address and bank account in the UK. This isn't what I was told when I emailed them but despite being annoyed at the inconvenience I'm just happy I don't have the hassle of changing account with no time to find one.

Chrismaths

Get an offshore account. Whilst you are non-resident it could be tax-free (depending on other factors).

martyn4764

Chrismaths wrote:

Get an offshore account. Whilst you are non-resident it could be tax-free (depending on other factors).

Better rate of interest at http://www.bbi.co.im/ too (Bradford & Bingley International).

seven-day-weekend

My husband had the same problem with West Bromwich BS. I rang them and told them we still had our house in the UK (and several bank accounts) and they were OK about that and allowed him to keep the account open.

If you have any ISAs, you are allowed to keep them open and receive interest, but are not allowed to add to them whilst you are non-resident.

Hope this helps.