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ISA on Year Abroad
10emarri
Posts: 1 Newbie
Hello!
As part of my degree I'll be going to Austria from October to May to work as a teaching assistant with the British Council, and I was looking at my ISA to make sure I have the best rates before I leave. I now have 2 questions:
1. I have already paid a small amount into my cash ISA this tax year - if I transfer it, will I still be able to pay more in to my new ISA this year?
2. Will I be able to contribute still when I am abroad? I will only be away for 8 months and will not be paying tax in Austria (I don't pay tax here either, as a student) - but will I no longer count as a resident?
Thanks in advance!
As part of my degree I'll be going to Austria from October to May to work as a teaching assistant with the British Council, and I was looking at my ISA to make sure I have the best rates before I leave. I now have 2 questions:
1. I have already paid a small amount into my cash ISA this tax year - if I transfer it, will I still be able to pay more in to my new ISA this year?
2. Will I be able to contribute still when I am abroad? I will only be away for 8 months and will not be paying tax in Austria (I don't pay tax here either, as a student) - but will I no longer count as a resident?
Thanks in advance!
0
Comments
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It is unlikely that a cash ISA will give you the best rate on your money. But if you have online access then providing you can log in you'd be able to top up the account while you're away.
Being out of the country between October and May would not normally qualify you as being non-resident. https://www.gov.uk/government/publications/rdr3-statutory-residence-test-srt/guidance-note-for-statutory-residence-test-srt-rdr30
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