Savings for non-tax resident

Jenntay

I've moved to the UK but, for tax purposes, remain a tax resident in New Zealand where my main income-producing assets are based. There's a reciprocal tax agreement between NZ and the UK, so all income earned/tax paid in the UK has to be declared for NZ tax purposes.

I want to transfer some funds to the UK that I won't need to use for at least the next year and would like to put these in a term deposit/fund to gain interest in the interim. My high street bank only offers a low rate on its savings accounts. However, I'm finding it difficult to find somewhere I can invest because, although I'm a UK resident (and was born in Britain), I'm not a resident for tax purposes. Grateful for advice of any places to invest where you don't have to be a tax resident?

xylophone

You might try NS&I - rates not all that generous but probably better than what your bank offers.

https://www.nsandi.com/i-live-outside-uk-can-i-invest-with-nsi

Tuscan_Driver

You could try Paragon Bank which is an online only FSCS protected bank.
Its fixed rate accounts from 1 to 5 years. For example; the 5 year account used to pay 2.66%, recently it dropped to 2.45% and now only pays 2.25%.

Your best bet is with the 2 year fixed 2.01%: - https://www.paragonbank.co.uk/savings/savings-accounts?tabid=fixed-rate

Good luck!:money:

eskbanker

Tuscan_Driver wrote: »

You could try Paragon Bank which is an online only FSCS protected bank.
Its fixed rate accounts from 1 to 5 years. For example; the 5 year account used to pay 2.66%, recently it dropped to 2.45% and now only pays 2.25%.

Your best bet is with the 2 year fixed 2.01%: - https://www.paragonbank.co.uk/savings/savings-accounts?tabid=fixed-rate

Not applicable unfortunately:

Jenntay wrote: »

I'm a UK resident (and was born in Britain), I'm not a resident for tax purposes. Grateful for advice of any places to invest where you don't have to be a tax resident?

Paragon_Ts_&_Cs wrote:

Account holders must be aged 18 or over and a UK resident for tax purposes.

badger09

Tuscan_Driver wrote: »

You could try Paragon Bank which is an online only FSCS protected bank.
Its fixed rate accounts from 1 to 5 years. For example; the 5 year account used to pay 2.66%, recently it dropped to 2.45% and now only pays 2.25%.

Your best bet is with the 2 year fixed 2.01%: - https://www.paragonbank.co.uk/savings/savings-accounts?tabid=fixed-rate

Good luck!:money:

OP will need more than good luck:cool:.

Those accounts are available only to UK tax residents. As are most such accounts.

An option is given in xylophone's link.