ISA and Pension Expat

ISA and Pension Expat

Postby ros on Wed Mar 10, 2010 3:43 pm

I have moved from the UK and am now tax resident elsewhere in the EU. My new country of residence has a double-taxation treaty with the UK. I pay all my personal income tax in my new country of residence, with the exception of tax on income from a buy-to-let property I have in the UK.
I have savings in an ISA. Are capital gains on my ISA still tax free both in the UK and in my new country of residence? Can I still pay into my ISA each year or must I now leave it dormant?
I also have Pension fund investments. I have not yet notified the Fund managers that I am no longer UK resident and tax payer. Do I need to? What are the tax implications on my Pension fund savings when I come to retire?
Advice on these matters appreciated thank you!
ros
 
Posts: 5
Joined: Wed Mar 10, 2010 3:34 pm

Re: ISA and Pension Expat

Postby etf on Thu Mar 11, 2010 12:59 pm

Hi Ros,

Here is an answer to the first part of your question.

If the UK tax authorities accept that you are regarded as not resident and not ordinarily resident for UK tax purposes, you will be able to retain your existing ISA investments and the UK tax advantages which they offer. You are not however permitted to contribute into an ISA when you are not resident in the UK.

The UK ISA tax advantages may not apply in the country where you are resident and you should seek local advice on this point.

We hope this helps.

etf

http://theexpatriatetaxfactory.com
etf
 
Posts: 34
Joined: Mon Nov 02, 2009 5:25 pm

Re: ISA and Pension Expat

Postby ros on Thu Mar 11, 2010 1:08 pm

Thank you for your reply. I shall check out your website too for more advice.
ros
 
Posts: 5
Joined: Wed Mar 10, 2010 3:34 pm


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