ISAs

[bixy]

I've tried a search under the above and come up with nothing, though I can't believe this isn't a subject that's been tackled before. Anyway, we are getting letters saying that we cannot hold ISAs as residents in France. Is this in fact the case or does it depend on the individual bank/building society?

Patrick

[chessfou]

ISAs (ditto PEPs) can only be opened by UK residents.

Once open, they can be retained and used by those who leave the UK.

However, if you leave the UK then you may not add any further funds unless and until you again become UK resident.

[suein56]

[quote user="bixy"] Anyway, we are getting letters saying that we cannot hold ISAs as residents in France. Is this in fact the case or does it depend on the individual bank/building society?
Patrick [/quote]

You mention Banks and Building Societies so are these cash Isas? If they are then you might be at the whim of the Bank /BS concerned. Of our investments some BSs wont let you keep an account open when you inform them of your change of address to France. (IMHO they don't like the paperwork involved) Other BSs are quite happy to accommodate your account being operated from abroad.

Sue

[bixy]

Yes, cash ISAs. We've now had a letter from Halifax echoing exactly what Chessfou has said.

Thanks for those responses.

Patrick

[Crevette]

I also believe that the interest income from an ISA is no longer "tax free" if you pay taxes in France...

-Rob-

[Ron Avery]

[quote user="Crevette"]

I also believe that the interest income from an ISA is no longer "tax free" if you pay taxes in France...

-Rob-

[/quote]

That is correct Rob, but its not just if you pay taxes in France, quite a few anglais live here but don't pay taxes, but essentially they are only tax free if you live in the UK, not in France.