Resident and Ordinarily Resident

Discussion in 'Finance, Property, Law' started by old_bloke, Mar 26, 2012.

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  1. Anybody know an easy way to explian the difference.

    Reading HMC web page waffles on about x days in country but then mentions that if you visit the UK a few time or have a home,bank account and a few other links you qualify.

    Even my lawer in the UK doing my Will last year was not sure.

    What is the difference ?
  2. Alsacien

    Alsacien LE Moderator

    A good adviser can have you classified as either depending on what you want if you can fudge your circumstance according to this:

    Don't speak to the idiots in Bootle unless you have to.
    I had the 3 most stupid people on the phone that I have ever spoken to in a sequence....
  3. Thanks , I have read that as well and I do tick most of the boxes at the moment . Just wondering
    as to why Barclays on the Internet won't allow me to get a new ISA today, as I have a few
    accounts with them. I'll have to register through the VPN at home I suppose.
  4. If you have classified yourself as non-resident and have signed an R101 at the bank so that your interest is paid gross, they, in turn will classify you non-resident for tax purposes. Only UK tax residents are entitled to open an ISA.

    In this case it has nothing to do with ordinarily and resident it is your tax status that you have set up with your bank. If you have told them you are not resident for UK tax you cannot have UK tax beneficial products.

    It may also be the case that they will ask you to discontinue existing ISA or older PEP's.
  5. No I have not classified myself as a non-resident. Thats why I think its ISP info preventing the on line transaction. Ill try at home with the VPN :)
  6. Send me your account, pin and password and I can set up a TNB account for you. I will need some other details but the first is enough to get me going.