Euro investments

I have a Euro account in a UK bank which yields no interest. The bank has no savings account for Euros and will only arrange to invest the money if I change the Euros into Stirling.

Are there any UK based investment management companies that deal in Euros that I can approach? Alternatively, can I open up a portfolio on-line with a European company? If so would there be the tax implications in both the UK and the country concerned ?


  • Porcupine
    Porcupine Forumite Posts: 682 Forumite
    You can open a trading account with a Eurozone bank like Keytrade. Assuming you aren't a resident of Belgium (or wherever), your investments are subject to UK CGT as normal, and any income should be declared as foreign income on your UK tax return.

    However you are potentially liable for Belgian savings taxes which they apply to residents and non-residents alike - I'm not aware of those, but they might exist if you have substantial income (VAT is an example of something you can't avoid paying by being non-resident). It might also be that banks will deduct such taxes automatically, and you have to claim back from the tax authorities (I think Ireland's system sometimes does this).

    It's a little bit more complicated, but it's not too bad assuming you're doing a UK tax return anyway.
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 338.9K Banking & Borrowing
  • 248.7K Reduce Debt & Boost Income
  • 447.6K Spending & Discounts
  • 230.8K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 171.1K Life & Family
  • 244.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards