Luxor4u

Well would you believe it! It's possible to cut all ties with the UK, and yet still manage to have UK bank accounts, which if I'm not mistaken will require a UK address for correspondence even in this age of internet banking.

Hmm... let me think... I'm confident that the same people have UK passports too.

Now, how does that tie up with cutting all ties with the UK. Some loose ends methinks!

What can you expect from an ex-copper ? Never to bright on the 'thinking side.
A CID Sergeant once said to me "you would make a good copper"
My reply was "you would make a sh*t thief"
He was imprisoned later for hoarding illegal guns & corruption...

UK bank accounts, which if I'm not mistaken will require a UK address for correspondence even in this age of internet banking

I don't know about other banks but I use internet banking with Barclays and they last wrote to me, at my UK address, about 10 years ago. (apart from the occasional replacement Debit card)

Everything else is dealt with online unless you beg them to send you something in the post!

newcastle wrote:

UK bank accounts, which if I'm not mistaken will require a UK address for correspondence even in this age of internet banking

I don't know about other banks but I use internet banking with Barclays and they last wrote to me, at my UK address, about 10 years ago. (apart from the occasional replacement Debit card)

Everything else is dealt with online unless you beg them to send you something in the post!

(apart from the occasional replacement Debit card)

Yup! Banks really aren't to keen on sending Bank Cards overseas.

To be fair I may have been incorrect in my comment. I was however thinking of a friend who has lived overseas for many years and, being computer savvy, has been using paperless internet banking for as long as it has been possible. However, apart from Bank Cards, I know that they do receive some other bank paperwork from time to time. Perhaps it depends who you bank with!

My point still stands though. Folks can't have given up all ties with the UK if they still have Bank Accounts that are registered in the UK.

Maybe I'm lucky Hepzibah....and the bank doesn't have cause to write to me much

Come to think of it....they do send offers of loans, by post, regularly (and binned just as regularly) and I could, on application, have statements sent.

Speaking to anyone at the branch is only possible if I turn up in person

Now that we have moved away from Internet banking, to the more common acceptable, some may remember the days when 7% interest on a standard bank account was common, and the pursuit of keeping it tax free was an acceptable way of life. Those days will return, so I will give a little advice for the future.

Back in the day the likes of Halifax Bank (then still a building society) etc were encouraging people to open an off shore account with them and transfer money from their present U.K. accounts., of course this was stupid, it was automatically open to scrutiny from H.M. you know who.

In truth you should go direct to the bank either in Monaco, Isle of Man, or even a trip to Jersey, you open an account at the appropriate bank, tell them that your address IS the bank, and that's it. Even opening an account in the U.K., the branch can be YOUR address.

The trouble with the U.K. is that there is one rule for the rich and one rule for the poor, but then again there is another 'rule' for those who read The Daily Telegraph, or pretend to and go,.......Oh my God, what would the Queen say. Get real,.............

In truth you should go direct to the bank either in Monaco, Isle of Man, or even a trip to Jersey, you open an account at the appropriate bank, tell them that your address IS the bank, and that's it. Even opening an account in the U.K., the branch can be YOUR address

To what purpose?

To omit declaring any interest on your UK tax return?

In other words fraudulent tax evasion.

If you think HMRC doesn't receive information from offshore banks, whatever address you may have given them, think again.

And this isn't the only source of information available to HMRC which is likely to catch would-be tax evaders.

There are legitimate ways for UK tax residents to avoid, or at least defer, tax on cash deposits....but you would need to be thinking in terms of $500,000 plus to make it worthwhile

HEPZIBAH wrote:Well would you believe it! It's possible to cut all ties with the UK, and yet still manage to have UK bank accounts, which if I'm not mistaken will require a UK address for correspondence even in this age of internet banking.

Hmm... let me think... I'm confident that the same people have UK passports too.

Now, how does that tie up with cutting all ties with the UK. Some loose ends methinks!

Hepzibah, I have banked with HSBC since 1986. My account is based in Birmingham, where I lived at the time, but followed me round the UK as I changed jobs, ending in Salisbury. As I was preparing for retirement I went to see my account manager there, told him I would be living permanently in Turkey, and was it a problem? Nope, not at all. My sister, UK based, is a signatory on my account in case of emergency, but all correspondence is sent to me here, including my new bank cards.

We have a local ATM that dispenses Sterling - I withdraw in pounds and change it to Turkish Lira with whomever offers the best rate on the day - so I pay no bank charges whatever. When I go to Luxor I inform the bank that I'll be making withdrawals in Egyptian Pounds, no problem. When I had a problem with the ATM in the Nile Palace - money debited from my account but not dispensed - HSBC refunded it immediately, which I appreciated!

All our cards get delivered to our branch and the branch couriers them to us, like they did to us in Luxor. Never had a problem..

Ramadan Ruminations.....

Embracing Technology ? it's another 'ology.
We, that's me first used to have brick phones and car phones, then things got smaller.
When we took the internet into Sarajevo, we already had the world's 1st internet radio station operating out of Farringdon Rd.
We never in 14 years paid for the internet, don't ask 'techie's at work.
(mind you the same went for rates, tax's, electricity or the gas)
There's a old promo film I once did of The Tardis, at the end of the tour I add "and finally here's our computer room.
Times change, but not all changes are good, beware!
A lot of Chinese stuff is rubbish but you cannot beat their Xmas lights.
I have a 6" solar panel on my roof that runs a sting of white lights, I's been up there 10 years, and I rarely clean the panel.
Iv'e embraced solar power for years and with the new led lights available one can run the whole house lighting
off a single deep cycle marine battery, you don't even need solar panels.
It's a hot, sunny Country use it to your advantage just like the ancients before.
Remember! wifi's can be cloned and information stolen by someone standing right next to you in Tesco's.
A foole & his money,
be soone at debate:
which after with sorow,
repents him to late. which means...
"A fool and his money are soon parted.....
Ps: They discuss the legality of 'chipping humans they don't realise its' already done qed.

I had this rc robot 'mickey back in 94 very little AI involved..

It's the banks job now to inform the HMRC of any taxable interest, but I suppose you need a lot of dough before you pay tax with the interest in the UK being so low. Doe it really matter where you bank, to me you should always go to places/countries where your money makes the most, the sensible thing to do. Because I am registered being a Cyprus tax payer my code in the UK is NT, (None Taxable) All my income from the UK is sorted out here, giving me an extra 6000 Euros of tax free money, and all above taxed at 5%. Now that does make sense. I do have to notify of interest earned on investments but, its not counted as income, only investment gains. I don't blame anyone who looks for the best returns, ours is for our children and grandchildren, so to us the more we can get for them the better.

Blimey MT 5.44am can't sleep ? to worried about getting your £££'s ripped off.
There's a popup scam website based in Cyprus called search encrypt devil to eradicate...
Ps: My adage on the TaxMan was "he doesn't ring me so I never wrung him"....