Can buy ISA when moving back to UK?

[mmcdona6]

I have been living abroad for 2 years and am non-resident in UK for tax purposes. I plan to move back to UK in February 2006. Will I be allowed to invest in an ISA for the tax year April 2005-April 2006.

Similarly, but perhaps not the same answer, at what point can I start to contribute to a registered pension?

[martinbamford]

You have to be UK resident to make ISA contributions but you can hold onto an ISA if you are no longer UK resident in the future.

To make contributions to a personal pension or stakeholder pension plan you have to be resident or ordinarily resident in the UK. You could also be eligible if you are a crown servant or the spouse of a crown servant.

Post A-Day (6th April 2006) your residency will no longer restrict your personal pension contributions. If you are not a UK resident post A-Day you will be able to make pension contributions but you will not get any tax relief on the contributions.

Martin Bamford DipPFS AIFP
Director
www.informedchoice.ltd.uk