Moving abroad - best way to keep a UK address?

AliMalice

I'm moving to Thailand in a few weeks and I'm wondering what the best way is to keep a UK address. Could anyone help please? 

I'll be letting out my house which will generate a UK income. This money will go into my UK bank account (Lloyd's - I've had this since 2001) and will be kept for UK related costs (the house and helping to support my son whilst at university).

I'll be earning a Thai income and will have a separate Thai bank account for this.

I have sought advice from a UK accountant on all things tax related (the money earned will be under the tax threshold here and I will only need to pay tax in the one country I live in anyway). I'll also seek advice at the other end. So I think that's all in hand. 

What I'm wondering is how best to keep a UK address. Apparently UK banks only keep your account open if you have a UK address that you're registered at. Does anyone know if a virtual address would be accepted? Perhaps one of the companies who scan your mail (some offer an address that isn't a PO box). 

Or would it be better to ask someone if I can use their address, then maybe have the post forwarded? It's possible someone I know might agree but I haven't asked anyone yet. I'm not 100% sure of the implications (for them and me). 

My situation is as follows

- I'm renting until I leave (the house I own has tenants)
- I'm an orphan so can't ask parents to use their address.
- I'll be living abroad for 2 years or more. 

- I'd really like to keep my bank account if possible. 

eDicky

Some banks allow customers to retain their account when changing their address to a verifiable one overseas, I don't know if Lloyds do. Is that your only bank account? HSBC allow it usually.

Your son doesn't have a stable address, presumably. I have in the past used a mailbox service that had a street address, but I doubt that it would work these days for a bank account.

Offshore accounts in Channel Isles or Isle of Man are suitable for British expatriates who have affairs to administer in UK, but usually require a substantial sum on deposit to avoid fees. Lloyds no doubt have a branch in Jersey for example.

lr1277

At a tangent, please check the advice from the accountant about tax either with HMRC or a landlord forum. I am under the impression unless the landlord has made arrangements with HMRC, the tenant has to pay any tax on behalf of a non-resident landlord.

As I am sure you are aware, you accountant may calculate your tax return and may even submit it for you, but you are ultimately resposible for any returns submitted to HMRC.

Regarding your bank account please choose carefully either the address you use or the type of bank account you have. If something goes really wrong, you may be required to present yourself in branch with photo ID and proof of address. Obviously the proof of address has to match the address your bank holds on file for you.

Only potential solution is to use Wise, but this is not a bank account and does not have the usual banking protections.

Another potential solutions is to use your accountant's office address as your registered addess assuming you accountant agrees and you agree to pay the fee for this service. The bank will also have to agree to your use of accountant's office address and the proof of address the accountant will have to provide. If everyone agrees to this setup, though more costly, I am guessing the cost could be offset against your rental income thus lowering your potential tax bill.

P.S. My accountant has given incorrect advice before, and I thought it was wrong at the time, but also thought he is the accountant so must know what he is doing. The mistake was to calculate a lower tax bill than was actually required. The mistake was caught by another accountant at the firm so first accountant called me to advise of a higher tax payable figure. This revised figure was very close to the figure I had calculated. Don't assume your accountant is infallible.

sheramber

https://www.gov.uk/government/organisations/hm-revenue-customs/contact/non-resident-landlords

Will you be using a letting agent whose address you could use.

HillStreetBlues

Can't you use the house you own as an address? I can't remember the last time I got paper mail from a bank (not including opening new accounts).

born_again

HillStreetBlues said:

Can't you use the house you own as an address? I can't remember the last time I got paper mail from a bank (not including opening new accounts).

Very dangerous. As any new cards will go to that address.

OP would be best speaking to their bank & asking them. Trying to fiddle the system can lead to a world of pain.

BeachNut

lr1277 said:

At a tangent, please check the advice from the accountant about tax either with HMRC or a landlord forum. I am under the impression unless the landlord has made arrangements with HMRC, the tenant has to pay any tax on behalf of a non-resident landlord.

Non-UK resident landlord needs to ask HMRC to give permission to tenants/letting agent to pay the rent without deduction of tax (which they'll do if your tax affairs are in order).

sheramber

BeachNut said:

lr1277 said:

At a tangent, please check the advice from the accountant about tax either with HMRC or a landlord forum. I am under the impression unless the landlord has made arrangements with HMRC, the tenant has to pay any tax on behalf of a non-resident landlord.

Non-UK resident landlord needs to ask HMRC to give permission to tenants/letting agent to pay the rent without deduction of tax (which they'll do if your tax affairs are in order).

OP has already been given gov.Uk link for non resident landlords

hildasayank

Royal Mail's redirection service allows you to forward your received mail to your new address, including overseas, while keeping your address on record with the bank unchanged. However, I'm not sure if this is legal.

fifeken

Do not under any circumstances tell your bank(s) you are becoming non-resident.  In fact, open as many accounts with other banks while you still have the opportunity as despite any current promises not to close accounts of expats these can easily change as many have found to their cost over the last few years.

Opening accounts with the likes of Wise as suggested (do it before you move as they won't send cards to Thailand), Revolut, Starling, Halifax Clarity (CC) etc ASAP to give you options down the line.

I spend most of my time outside the UK but maintain my place there so I'm good for an address that I can use.  If I didn't I would be asking a friend if I could use his address and making everything as paperless as possible to limit the pain in the neck factor for him.

On the Thailand side, will you be working with a work permit and appropriate visa or will you be hoping to fly under the radar?  Opening a bank account there can be problematic for some, although problems can usually be overcome by paying an agent.

BeachNut

I'll be letting out my house which will generate a UK income. This money will go into my UK bank account (Lloyd's - I've had this since 2001) and will be kept for UK related costs (the house and helping to support my son whilst at university).

For Llloyds I'd leave your address as is - with paperless the only thing you need an address for is to receive a card if you have one, so I'd order a new one now so it'll be good for the next few years. You can also add a Thai mobile number to Lloyds online banking (it works) as well as keeping your UK one (free to receive SMS to UK number when in Thailand). Their app also works in Thailand, and even if you have to call them they have no problem knowing your not in the UK (but don't change your address!).