I'm contributing to my workplace pension and into a Cash LISA.
You can transfer an ISA to another provider even if you are not resident in the UK. At least we’d be able to understand if it’s a legitimate response, a commercial decision, or an over-reaction.
Of course the budget announcements are not actually law yet so anything might change yet and it seems like a massive loophole to me!
I will be receiving compensation in the coming months - is it possible to pay SIPP contributions from the compensation payment?
I’m thinking about funds rather than bank accounts. Would this be advisable or relatively unnecessary, if I'm already investing in the LifeStrategy fund?
David | Berkshire | Thank you!
Are you aware of a peer-to-peer site that could assist? 3.
Why are these figures so different? 18/01/2018 | However with a General Investment Account/unit trust, there are no restrictions on residency (though this will be dependent on the platform you choose). However, you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it. Because Singapore has no tax treaty with the US this is not recoverable, so a deadweight loss (it not available as a Singapore tax credit either, because Singapore does not tax dividends). Aegon: unlike Vanguard, non-residents can change investments within their DC pension account, but “You cannot have a drawdown account if you live abroad, you must be a UK resident.” For so-called “international SIPPs” that are marketed towards expats, the fees are horrendous. I am in my mid 20s & earning a regular salary. 03/07/2019 | I havent checked with the likes of nutmeg because I dont know how long the likes of nutmeg will exist.
Are there SIPPs which do it for you?
While I am happy to keep the shares element, I don’t feel the managed portfolio is working for me and I could do better elsewhere.
In short, I had what I thought was a decent plan to save, invest and sail off to FI before my 50th birthday (currently 37) and was well on track to hit this goal.
0. So, basically, I used to live in the US in my past life and I still have 401k, and taxable investments in the US. Scottish Mortgage is an example.
UK | Suppose you live in Singapore and want to buy a ‘developed Europe’ ETF. @China Nigel,
Just remember, commission has been banned now so advisers need to be very clear with you about what you are paying them and when. London | Not too indifferent to doing it in the UK. 8. I've tried to find reviews of his services but cannot find them anywhere except on a really old forum of his older product 'Spreedbet Beginner' where people have said they are blocked pretty swiftly on Twitter etc if they raise an issue. After that point, her last 'UK tax year' has ended and she can't keep contributing to an ISA because only UK residents can contribute to ISAs, and she isn't one any more. 2.
I am 73 and cautious. Staffordshire |
This unit trust would either issue dividends or interest, and this would be taxed in the UK. I am considering either medium risk or high risk accounts. In January 2021, I will receive a commutation lump sum of about £50,000. Susan | If I were to invest with A J Bell or Hargreaves Lansdown in a self select Stocks & Shares ISA and they were to 'go bust', what would happen to my investment? I recently came across your blog and it has been a great introduction to learning about my personal finances. Can you advise me on the best approach when looking to invest in a product that offers compound interest? I assume these probably each carry a fee structure - is this correct? I've got a Stock and Shares ISA with Moneybox. it would be the most amazing solution if we could invest direct with them some way. Boring Money is a publisher and not regulated by the FCA. I am approaching 75 and have mostly saved into cash - should I open a Stocks and Shares ISA for two years and then cash it in? This means we can't help with specific personal circumstances or recommend specific investment products.
As I said, and you have also identified, it is very important to consider your own local situation.
Being non UK resident usually makes it difficult to open a UK based broker account with the likes of HL or Youinvest.
I am going to call other providers and will try to update here. I have savings and can make a lump sum investment. Rohan | In the case of Vanguard, their low cost is attractive but their portfolio is made up of other Vanguard funds. If I have no financial commitments (living at home for next 2 yrs), is it worth using 90% of my savings for a house deposit for buy-to-let purposes? Milly | I read Andrew Hallam’s new book on expat investing and he definitely agrees with your warning on local financial advisors. 2. I am confused about financial services compensation: I have a SIPP and an ISA with AJ Bell Youinvest, and am about to inherit a sizeable sum. I have talked with several IFAs, but given my risk adverse nature, their fees seem to eat up most of the benefit they offer. I have compared the fees and they are not significantly different. Yes its completely crazy, but the problem was started by the US with their draconian FATCA rule. I considered a LISA but thought I might be better paying off more of the mortgage. I am now wondering whether to use Nutmeg again, or should I use LifeStrategy for my £1000 per month?
We need it as serious illness has changed our lives completely. Once there you will regularly be approached, a polite decline of all is recommended! Being an expat normally means being “non resident for UK tax purposes” BUT you need to be clear that this is in fact the case as there are clear rules that define your residence status.
Holly | What are the best accounts for him? Weekend reading: Markets rise/fall on Biden/Trump victory/defeat (! The US has some of the lowest cost and tax efficient passive investment options (TSM, muni bonds come to mind), so a US citizen based in the UK can easily invest back home efficiently. One thing that Vanguard’s competitors offer that Vanguard doesn’t is ETFs that accumulate dividends, but this is not on US domiciled ETFs.
I checked with a wealth manger in UK (1% mangement fee, 0.5% wrap platform charges plus actual fund (mostly trackers) expenses) and he said that so long as I dont end up in the USA, there is no problem at all. Inheritance tax is based on domicile.
Only open to those working or resident in Singapore – I would say it’s nearly at par with DIY given the extortionate dealing fees and forex fees brokerages here impose, but the investment strategy sounds a little to smart-beta-ish for my liking: https://www.smartly.sg/
I have about £100 monthly extra I want to invest, but I am not sure if my ISAs represent good value. For the last 12 years I have not contributed to a pension. 08/05/2018 | Would you favour an Independent Financial Adviser or a Robo Adviser for someone in her position?
Sussex |
We could swing this but my research has come up empty on how to follow up with this idea. 05/04/2019 | In addition to that, I'd like to know your opinions on how the possible outcomes of Brexit will affect the market and potential personal finance investments.
2.
12/03/2019 | London | 0. Are there better options? Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Sandra |
Nick | All our investments to date are in funds, not ETFs.
Lucy | I have also been looking with interest at Nutmeg, Wealthify, IG and AJ Bell Youinvest. There’s nothing wrong with paying for advice but make sure you double check the source of anything you read online. “Purpose of Form. Malti | Stay updated via RSS, email, Twitter, or Facebook. London | I arranged my grandmother’s state pension when she chose to leave the UK a few years ago.
Regarding the W8, when I looked into this I was baffled by some of the jargon, but understood that you are subject to 30% tax on dividends, whereas the FTSE you are not? @Bluejeansman
I have decent savings and am toying with the idea of Wahed Invest (I am looking for shariah compliant funds). 1. Tim |
6. Whereas with the ISA, I don't get the grossing up benefit, but won't pay any tax.
What can I do to increase my money for retirement?
0. If anyone has any suggestions, I would love to hear them. I know about pension grossing up, and the 25% tax free cash.
Or check out Unbiased or VouchedFor.
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