How many investment accounts do you have?

General Chat 💬
#41

I would say as FT don’t want to have the hassle of the people who try and open ISA etc here then go abroad but keep the tax benefits trying to cheat the system. Easier to just do a blanket ban and seems sensible. There is a lot of fraud/laundering in the financial world and that would involve work to any investigations.

Edit - It may be due to licenses etc for them to operate in some countries reading the below.

Investing As an Expat | What You Need to Know | Investor Junkie

I am an expat living in Australia. Can I invest in the UK? | This is Money

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#42

Don’t judge people!

It’s legal to keep ISA open when you move abroad, again, see Individual Savings Accounts (ISAs): If you move abroad - GOV.UK

Those who want to cheat will just say nothing to FT, while all honest people will have to sell their portfolio, just because for service requirements.

#43

What is that supposed to mean? You asked a question and I gave a potential answer. Yes it is legal to keep an existing ISA BUT you can’t add more into it. Of course some people cheat the system if they can.

If you open an Individual Savings Account (ISA) in the UK then move abroad, you cannot put money into it after the tax year that you move (unless you’re a Crown employee working overseas or their spouse or civil partner).

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#44

So my concern here is why FT forcing people to close their accounts while it’s still legal to have it opened, until you go to US I believe as they cannot hold UCITS funds AFAIK
But anyway, it’s just a discussion aw nobody from FT team commented it.

#45

They’re a private company and can have their own policies for a myriad of reason, with small companies it’s normally done for simplicity.

I don’t know why you’re getting annoyed on other people’s behalf, you’ve given a solution …

FT staff are busy running the company and I don’t think scrolling the forum on the off chance there is a question they can answer, on a non specific topic, is a good use of their time.

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