Opening UK bank account-non tax resident

[sometimewoodworker]

7 hours ago, arick said:

You're better off not to be a tax in the UK if you want your state pension just pay class to contributions if you ever get through might take them 18 months or 2 years until you end up getting through to the his Majesty's revenue and pensions

It would seem that English is not your native or second language, so it is quite difficult to understand what points you are trying to make.

The NI contributions are governed by rules of residence and income, so you have to pay based on those rules, you don’t get to choose. U.K. Taxation depends on residence in the U.K. or income from the U.K. so isn’t usually a choice for most people.

Contacting the DWP by letter may take a few weeks for a response, I haven’t used email so I don’t know how long that takes, contacting them by phone depends on the time of day and how busy they are, however when I call it has always been a few minutes before talking to someone. So I have no idea where your vastly exaggerated response time comes from, did you confuse months and minutes?

[stubuzz]

2 hours ago, NanLaew said:

However, I just checked on their app as I have a Barclays account, and despite this, one of the checkboxes for opening any sort of other account be it savings or ISA, it specifically asks, "Tell us where you're a tax resident".

All banks are required to do this.

It would seem that non UK residents can open an account, but you would need to speak to the bank first.

Remitted money from a tax free country will not be taxed. However, the interest in accrues is taxable. This makes things messy.

I think the best option is to open an offshore expat account and not get caught up in the HMRC bureaucracy.

[The Cyclist]

4 minutes ago, stubuzz said:

All banks are required to do this.

It would seem that non UK residents can open an account, but you would need to speak to the bank first.

Remitted money from a tax free country will not be taxed. However, the interest in accrues is taxable. This makes things messy.

I think the best option is to open an offshore expat account and not get caught up in the HMRC bureaucracy.

 

Given that you work in KSA, are you an actual tax resident of Thialand ?
 

If not open a Foreign Currency account in Thailand and have your tax free salary paid direct to that.

 

If the interest generated in the UK is going to make things messy, an accountant can deal with your tax affairs for about £500 a year, which is tax deductable.

[stubuzz]

59 minutes ago, The Cyclist said:

Given that you work in KSA, are you an actual tax resident of Thialand ?

Not a tax resident of anywhere.

 

59 minutes ago, The Cyclist said:

If the interest generated in the UK is going to make things messy, an accountant can deal with your tax affairs for about £500 a year, which is tax deductable.

My current account has zero % interest. Creating an account in the UK could be more trouble than it is worth. Barclays could close an account of a non resident. Then i have to find an accountant to deal with my tax responsibilities. Probably not worth the hassle when i could open an offshore account.

[arick]

1 hour ago, sometimewoodworker said:

It would seem that English is not your native or second language, so it is quite difficult to understand what points you are trying to make.

The NI contributions are governed by rules of residence and income, so you have to pay based on those rules, you don’t get to choose. U.K. Taxation depends on residence in the U.K. or income from the U.K. so isn’t usually a choice for most people.

Contacting the DWP by letter may take a few weeks for a response, I haven’t used email so I don’t know how long that takes, contacting them by phone depends on the time of day and how busy they are, however when I call it has always been a few minutes before talking to someone. So I have no idea where your vastly exaggerated response time comes from, did you confuse months and minutes?

It's a proven fact you might get a letter back from them in a month but until they solve your class two or class 3 pension contributions can take up to two years easily call them and find out. By the way I would recommend that you check your contributions in 2007 there's a lot of pensions missing for that year contributions.

[The Cyclist]

30 minutes ago, stubuzz said:

Not a tax resident of anywhere.

 

Are you a UK Citizen ?
 

Then it is entirely possibly that you are a UK tax resident, even though your KSA salary is tax free, providing you stay less than 90 days a year in the UK.

 

34 minutes ago, stubuzz said:

Then i have to find an accountant to deal with my tax responsibilities.

 

Can be done online.

 

35 minutes ago, stubuzz said:

Probably not worth the hassle when i could open an offshore account.

 

If you spend your time between Thailand and KSA, open a Foreign currency account in Thailand, end get your tax free salary paid direct to the FCA in Thailand. Probably a lot less hassle than trying to open an offshore account.

 

Been there, done it and got the T-Shirt.

[stubuzz]

10 minutes ago, The Cyclist said:

Are you a UK Citizen ?

Yes. I have been out of the country for for more than 20 years and i spend less than 16 days per year in the UK. All of the HMRC tests indicate that i am a non tax resident.

https://www.gov.uk/tax-foreign-income/residence

[The Cyclist]

5 minutes ago, stubuzz said:

Yes. I have been out of the country for for more than 20 years and i spend less than 16 days per year in the UK. All of the HMRC tests indicate that i am a non tax resident.

https://www.gov.uk/tax-foreign-income/residence

 

I was on this on this one

 

https://www.gov.uk/tax-foreign-income/non-domiciled-residents

 

But the rules appear to have changed.

 

If you have an address in Thailand, I still think it would be easier to open an FCA with one of the Thai banks than opening an Off shore account.

 

Of course, it could be that the rules in Thaialnd have changed since I opened mine in 2010.