ISA S&S account while overseas working?
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HouseOfRagdoll
Posts: 2 Newbie
Hi everyone, I'm looking for a bit of advice is possible,
I have just registered my P85 for working overseas from 01 Sep 18 (Last UK working day 31 Aug 18) and will only be coming back to the UK during time off but less than 89 days/year.
I am 30, mortgage/debt free, and the house has been transferred into partners name.
As I will have NT non-resident status can I still put my £20K/year into a S&S ISA?
Can anyone help how I would go about investing £20K/year into a high risk divined paying account for my retirement nest egg?
Thanks
I have just registered my P85 for working overseas from 01 Sep 18 (Last UK working day 31 Aug 18) and will only be coming back to the UK during time off but less than 89 days/year.
I am 30, mortgage/debt free, and the house has been transferred into partners name.
As I will have NT non-resident status can I still put my £20K/year into a S&S ISA?
Can anyone help how I would go about investing £20K/year into a high risk divined paying account for my retirement nest egg?
Thanks
0
Comments
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https://www.gov.uk/individual-savings-accounts/if-you-move-abroad-or-die:If you open an Individual Savings Account (ISA) in the UK and then move abroad, you can’t put money into it after the tax year that you move (unless you’re a Crown employee working overseas or their spouse or civil partner).
You must tell your ISA provider as soon as you stop being a UK resident.
However, you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it.
You can pay into your ISA again if you return and become a UK resident (subject to the annual ISA allowance).0 -
Thank you Esk,
I'll have to start looking at other things then0 -
One other thing to bear in mind is that ISAs are only tax free in the UK (per the .gov guidance above)
Depending on where you go an ISA can be subject to tax in that country.0
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