Helpful Information /

Living Abroad

If you move overseas you will need to let us know so we can update your details. Some of our investments cannot be held in certain countries due to local restrictions. Some products may also be liable for local tax. For detailed information you will need to check the local law or regulations in the country you are moving to. For some general guidance please see below:

Premium Bonds

Overseas residents can hold and purchase Premium Bonds if local regulations permit though they cannot apply via our website as many countries prohibit the promotion of lotteries over the internet.

Payment must be made by cheque in Sterling drawn on a UK clearing bank, accompanied by the relevant application form. If you need a form please click here.

Gaming and lottery laws prohibit US citizens from receiving correspondence through the US postal service regarding Premium Bonds. As a result it is not practical to hold Premium Bonds while in the US as there would be no way of receiving and cashing in any prizes. If you live outside the UK, you should check whether local regulations allow you to hold Premium Bonds.  

Pensioner’s Guaranteed Income Bonds and Income Bonds

In order to receive the income from the Bond customers are required to have a UK bank or building society account (or an NS&I Investment Account or Easy Access Savings Account) which can receive BACS transfers. Interest will be paid without the deduction of tax. However, it is subject to UK income tax so investors who are liable for UK income tax will need to declare their interest to the Inland Revenue.   

Capital Bonds and Investment Account

Interest will be added to your Bond or account without the deduction of tax. However, interest is subject to UK income tax each year. If you are liable for UK income tax, you should include the interest in any return of income you make to the Inland Revenue in respect of the tax year in which it is added to your Bond or account. 

Easy Access Savings Account

The Easy Access Savings Account requires customers to have a UK bank account which can receive BACS transfers. Also, the cash card supplied with the account can only be used at UK Post Offices and cash machines. 

Cash ISA / Direct ISA

You should let us know if you cease to be resident in the UK for tax purposes. No further deposits can be made into your ISA until you meet the UK residency qualification again.

EU Savings Tax Directive

The EU Savings Tax Directive is legislation relating to Tax in EU Member States and associated territories. The main purpose of the Directive is to allow the tax authorities in EU Member States and associated territories to share information about savings income payments (i.e. interest payments) made to individuals. This is to help ensure that savers and investors pay the right amount of tax on their savings income and to counter cross border tax evasion within the EU.

• EU Savings Tax Directive