Crown Servant and savings

genieuk

I have a few thousand pounds to invest, at the moment I am looking at the Barclays Isa 6.5% or Kaupthing 6.5%. I have been umming and aaaring for a while now (I am currently not working so do not pay tax)

My husband is serving and we are off overseas again for 2-3yrs and in most t&c's you have to be UK resident where do we fit in, we managed to open an 2 x ISA last year with Portman and have other savings but a lot of people don't like us because of our addresses.

I would really like to get something in place before we move as it will be a lot easier also we will be saving in excess of £1k per month.

Do I just apply now, then give them my BFPO address once moved?

Apologies if this doesn't make sense, but any help gratefully received.

Baldur

genieuk wrote: »

I have a few thousand pounds to invest, at the moment I am looking at the Barclays Isa 6.5% or Kaupthing 6.5%. I have been umming and aaaring for a while now (I am currently not working so do not pay tax)

My husband is serving and we are off overseas again for 2-3yrs and in most t&c's you have to be UK resident where do we fit in, we managed to open an 2 x ISA last year with Portman and have other savings but a lot of people don't like us because of our addresses.

I would really like to get something in place before we move as it will be a lot easier also we will be saving in excess of £1k per month.

Do I just apply now, then give them my BFPO address once moved?

Apologies if this doesn't make sense, but any help gratefully received.

This link http://www.army.mod.uk/servingsoldier/condofserv/mm/armed_forces_savings.htm may help as far as Crown Servant eligibility is concerned.

BruceyBonus

On the Barclays application form which they completed in branch, one of the questions was "Crown employee serving overseas". I would assume they make an exception in these cases.

molerat

Crown servants and their families are considered "normally resident" for tax purposes so you should have no problems with most banks.

egon

Hi,

My hubby is crown service too. When you are posted overseas, you are still classed as UK resident. There should be no problem with giving the BFPO address.

Any problems, just ask.

Egon

genieuk

Yes thanks for the advice, should I just apply as normal and then let them make the decision.

The last lot of money I tried to put into the ISA was returned due to us being in a foreign country - Northern Ireland but it was sorted eventually.

As I am a non tax payer would it make much difference if I saved with the Barclays ISA or Kaupthing. Or should I invest my lump sum into Barclays and then save regularly into Kaupthing.

Again thank you for you replies.