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Sam
Sam, Accountant
Category: Tax
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I am UK citizen but living and working abroad being paid by

Customer Question

I am UK citizen but living and working abroad being paid by a UK charity. I don't have any property in the UK but return to the family home when I come back for a 3/4wk holiday twice a year. I am looking to invest my savings and would like to get the best interest but without being taxed - too much anyway. I don't think I am eligible for ISA's as I am not resident most of the year but I do pay NI and have a pension with my employers so have you any advice as to where I should put my savings to minimise tax on them? many thanks
PS P60 says 2014 earnings gross pay £19400, no tax taken off. NI £1700 per year roughly.
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for your question..There have been changes to tax on interest received from 6 Apr 2016.The first £1,000 of interest received in a tax year is tax free.At present rates being offered on cash deposits is pretty low but you may wish to consider fixed bonds.I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.Please only rate my answer if it is acceptable.
Expert:  taxadvisor.uk replied 1 year ago.
Hi there, I hope I have addressed all points raised by you. If you are unclear on any aspect, please do come back.

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