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Lifetime ISA - Can we save into one whilst working abroad?
Simmo72
Posts: 1 Newbie
Can you open an ISA in the UK whilst working abroad? My step daughter is working in Australia currently but is due to come home in the next 12-18 months and wanted to start saving for thier return. Is this possible?
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Comments
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If you're not a UK resident you can't open and contribute to a LISA.
Presumably she doesn't want to lie and say she is UK resident because then HMRC would expect her to pay UK tax on her worldwide income, which would be unwelcome.
She will have the full normal annual subscription allowance for the year of her return when she gets back (it's not pro-rata'd for the date within the tax year that she gets back to the UK). But meanwhile she will have to save where she is, or in her existing, non-ISA accounts.0
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