Paying into an ISA whilst domiciled abroad

bratulike

I am British citizen with an ongoing ISA of 4 years in the UK. I am now domiciled abroad and wish to pay into my ISA for this year. Is that allowed as I have heard it is not! If it is not allowed how does anyone know and what are the repercussions for doing so knowingly or unknowingly?

Baldur

See http://www.hmrc.gov.uk/leaflets/isa-factsheet.htm

"Moving abroad

You can only subscribe to an ISA if you are resident and ordinarily resident in the UK for tax purposes. Overseas residents are not eligible to apply for an ISA. If you are unsure about this, call our Centre for Non-Residents on

• 0845 070 0040 (UK) or
• 44 151 210 2222 (from abroad).

If you cease to be a UK resident while you already have an ISA open, you will no longer be able to put money into it. However, you will still be able to keep your ISA open and you will still be entitled to the tax benefits on investments held in the ISA. If you then return to be UK resident and ordinarily resident, you can start putting money in again.

Crown employees overseas

If you are a crown employee, such as a diplomat or a member of the armed forces, and you are working overseas and paid by the Government, you are entitled to open an ISA. You can continue to invest in your ISA while you are overseas.
This also applies to your husband, wife or civil partner."