UK savings & moving overseas

[parabolica]

My employer is planning to offer me a local contract in the Netherlands in the new year; I’m there right now but on UK assignment terms so still paid by my UK employer into my UK account. When my assignment ends they are offering a permanent move to the Dutch company. I currently have 1x ISA and 1x high-interest savings account with my main bank who have a line in their t&c stating the continuation of the saving terms is dependent on being a UK resident.

My question is for anyone who has moved overseas permanently, what happens with your your savings? Do you have to withdraw everything and re-invest in your new location? Or are there UK-based savings accounts out there that can be used by non-residents? I’ve had a brief look but couldn’t find anything definitive.

[rdjohn]

You can keep your ISA but not add anything to it.

You can also move to offshore accounts e.g. in the Chanel Islands. Any interest or dividends will still be liable for tax in the Netherlands.

Best to take professional advice, your long term plans are more important than next year’s.