BBuser: 0
Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #1  
Old 27.03.2007, 07:31
Grant Green's Avatar
Member
 
Join Date: Feb 2007
Location: Hegnau
Posts: 200
Groaned at 6 Times in 4 Posts
Thanked 63 Times in 32 Posts
Grant Green has earned some respectGrant Green has earned some respect
using savings accounts in the UK

I was thinking of putting some of my savings in a high interest account in the UK. Does anyone know if there would be any problem doing this? I still have a UK bank account sice I left the UK approx six years ago.
Reply With Quote
  #2  
Old 27.03.2007, 07:42
cyrus's Avatar
Forum Legend
 
Join Date: Nov 2006
Location: Emmenbruecke
Posts: 2,921
Groaned at 25 Times in 23 Posts
Thanked 3,056 Times in 1,317 Posts
cyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond repute
Re: using savings accounts in the UK

Quote:
View Post
I was thinking of putting some of my savings in a high interest account in the UK. Does anyone know if there would be any problem doing this? I still have a UK bank account sice I left the UK approx six years ago.
I do this, I don't think there's any problem, and you get a better rate of interest. With my account I have to fill in a form to claim tax back on my interest though.
Reply With Quote
  #3  
Old 27.03.2007, 07:47
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Züri Oberland
Posts: 5,465
Groaned at 261 Times in 173 Posts
Thanked 5,652 Times in 2,096 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: using savings accounts in the UK

Yes, the UK High Street banks will deduct tax, which you can also reclaim if you fill in a UK tax return. An offshore account at a Jersey branch of a UK bank may be worth investigating...
Reply With Quote
  #4  
Old 27.03.2007, 07:58
Grant Green's Avatar
Member
 
Join Date: Feb 2007
Location: Hegnau
Posts: 200
Groaned at 6 Times in 4 Posts
Thanked 63 Times in 32 Posts
Grant Green has earned some respectGrant Green has earned some respect
Re: using savings accounts in the UK

thanks for the advice.

Will I be ok just to ring my UK bank and arrange a savings account or do I have keep my residence in Switzerland secret ? Some of the forms ask for some residential details.
Reply With Quote
  #5  
Old 27.03.2007, 08:03
Lou's Avatar
Lou Lou is offline
Forum Legend
 
Join Date: Mar 2006
Location: Zurich
Posts: 3,438
Groaned at 6 Times in 6 Posts
Thanked 2,317 Times in 1,092 Posts
Lou has a reputation beyond reputeLou has a reputation beyond reputeLou has a reputation beyond reputeLou has a reputation beyond reputeLou has a reputation beyond reputeLou has a reputation beyond repute
Re: using savings accounts in the UK

In my experience UK banks don't care where you live. I've had one all the time I've lived over here with my Swiss address, they are quite happy to send the statements etc to Switzerland.
Reply With Quote
  #6  
Old 27.03.2007, 08:04
cyrus's Avatar
Forum Legend
 
Join Date: Nov 2006
Location: Emmenbruecke
Posts: 2,921
Groaned at 25 Times in 23 Posts
Thanked 3,056 Times in 1,317 Posts
cyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond reputecyrus has a reputation beyond repute
Re: using savings accounts in the UK

Quote:
View Post
thanks for the advice.

Will I be ok just to ring my UK bank and arrange a savings account or do I have keep my residence in Switzerland secret ? Some of the forms ask for some residential details.

It depends on the bank I think. I had to change my address to my parents. But other banks have specific forms for registering your account as belonging to a non-resident, and automatically cancel tax.
Reply With Quote
  #7  
Old 27.03.2007, 10:46
AbFab's Avatar
Forum Legend
 
Join Date: Sep 2006
Location: Züri Oberland
Posts: 5,465
Groaned at 261 Times in 173 Posts
Thanked 5,652 Times in 2,096 Posts
AbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond reputeAbFab has a reputation beyond repute
Re: using savings accounts in the UK

I've had an account with LloydsTSB for the 18 years I've been here, They have my Swiss address and send statements here. They even called me up some years ago to activate their ebanking, despite their requirement that you must be in the UK to use it...
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
UK National Identity Scheme Ginger Hale International affairs/politics 134 05.06.2007 02:19
Old style UK paper licences with no photo rmaunder Transportation/driving 7 25.04.2007 21:24
Chart of Accounts baskinci Finance/banking/taxation 6 17.11.2006 16:23
Savings Account lyris Finance/banking/taxation 18 28.09.2006 13:53


All times are GMT +1. The time now is 01:10.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2013, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0