Personal Savings allowance - living abroad

vouch0r

Hi all,

i'm trying to work out if when living abroad for a year now , do i still qualify for the personal savings allowance in the UK? i am a British citizen .

I cant tell if i need to start paying tax on savings interest or not. i receive no income other than savings interest from current accounts.

Thank you

Dazed_and_confused

Will you still be entitled to the Personal Allowance?

Will you have more than £12,500 in untaxed interest per year?

Not sure the PSA, actually a 0% tax rate, not an "Allowance", is going to be something you can (or need to) benefit from

gt94sss2

vouch0r wrote: »

I cant tell if i need to start paying tax on savings interest or not. i receive no income other than savings interest from current accounts.

Looking at your previous posts suggests you may be in Spain. If so, and you become liable to tax residency there, you need to declare any UK interest received (including that in ISAs which would be treated as tax free in the UK) there - and pay Spanish tax on them.

vouch0r

Hey, its NZ and yes i would be a tax resident here. does the same apply?

eskbanker

vouch0r wrote: »

Hey, its NZ and yes i would be a tax resident here. does the same apply?

Yes, the same applies - if you're tax-resident in another country then that's where you need to declare all of your income (whether earned locally or in the UK). UK allowances (and tax-efficient schemes such as ISAs) aren't applicable if you're not tax-resident in the UK....