Savings Accounts for UK National but who resides overeas.

Bostonerimus1

CyTravel said:

I do declare where I live and also pay into the system here - so it is irrelevant in this matter. I just wanted to establish my current close ties to the UK. I could invest here but it's Euros and a lot would be lost transferring it back to sterling.

You might be liable to UK tax on UK assets and the relevant UK/Country of residence tax treaty will allow you to avoid double taxation. I hope you are apply that tax treaty.

Bottomline is that as a UK non-resident you will have a tough time opening UK financial accounts. Your best bet for convenience and tax efficiency is to use local financial accounts.

Bostonerimus1

CyTravel said:

You get the choice of where to pay tax. Less hassle to pay in UK as all income comes from there. Long story.

...and very possibly a wrong story. I'd love to know how you "get the choice" and avoid local and UK tax law and the relevant Double Tax Treaty. Diplomats and people on some long term overseas secondments can fall under special rules.

Bostonerimus1

Bostonerimus1 said:

CyTravel said:

I do declare where I live and also pay into the system here - so it is irrelevant in this matter. I just wanted to establish my current close ties to the UK. I could invest here but it's Euros and a lot would be lost transferring it back to sterling.

You might be liable to UK tax on UK assets and the relevant UK/Country of residence tax treaty will allow you to avoid double taxation. I hope you are apply that tax treaty.

Bottomline is that as a UK non-resident you will have a tough time opening UK financial accounts. Your best bet for convenience and tax efficiency is to use local financial accounts.

Have you looked into accounts in IOM or Channel Islands?

Jester60

Sending EUR to GBP account need not be expensive - Atlantic Money app allows cheap eur gbp exchange.