Investments

The common type of investments are:

• ISAs
• PEPs
• Endownments
• Pensions
• Savings

A point to note is that the investment provider may prevent non UK residents from continuing to make contributions into these investments. In the case of pension funds, how long the contributions can be made as a non resident will depend on the rules of the pension scheme.

In the case of savings, a non UK resident may apply to have interest paid gross by completing for PA1 or CA1.

Special rules in Australia for these investments

These are not considered to be tax free investments in Australia. All of these investments are taxable in Australia on the growth or interest earned from the date of arrival in Australia.

These types of investments are caught under the Foreign Investment Fund (FIF) rules and include Foreign Life Policies.

Again this area is very complex and UHY Haines Norton should be contacted for professional advice.