Need advice on UK savings - we're moving abroad for a few years

Emanef

Hi all

We're moving to Dubai at the end of March and aren't sure what to do with our UK bank accounts. We're thinking the best thing is to change the registered addresses to our parents' address so any correspondance goes there, but can we keep current accounts open if they're not really being used? I use First Direct and my other half HSBC.

We also have an ISA each and a couple of normal savings accounts. Do the ISA's carry on as normal? And does being non-resident (likely to be at least two years) mean we don't get deducted tax on the (minimal!) interest? If so, how best to deal with them?

Thanks in advance for any help, as I'm sure you can imagine it's a hectic time and the things we need to sort out pretty overwhelming!

innovate

Almost all your Qs are answered in this article: http://www.expatmoneychannel.com/content/banking-uk-expats

Ref ISA: http://www.hmrc.gov.uk/isa/faqs.htm#14

FD and HSBC are said to have a good reputation for expats wanting to keep their accounts.

atush

I second HSBC.

But, I would fill your boots with any spare cash into ISAs, pensions, and UK resident savings accts (including the best regular saver you can find), including opening the best non bonus instant access one as you will have trouble opening new accts once you move offshore, and will be unable to contribute further funds to any that attract tax relief such as ISAs and pensions.

Emanef

That's great, thanks for that guys!