Here you will find information on how to organise your investments for moving abroad, how to protect your wealth against exchange rate movements and what we can do for you.
Please check the tax rules in your destination carefully, investments which are subject to reduced or no tax in the U.K. may be subject to local taxes.
Here are some tips for preparing to move abroad:
1. ISAs & Pensions
Tax efficient wrappers such as ISAs and SIPPs can be retained when you move abroad. However, depending on the country you move to, you may not be able to continue to make contributions. We believe that if you can afford it you should consider sheltering your savings and investments from tax and should look to take full advantage before you lose the opportunity.
2. Exchange rates
As soon as you make the decision to move abroad, you will need to start thinking about how exchange rate movements could affect the cost of your move and impact upon the value of investments you continue to hold in the UK.
If you agree to buy a house in a foreign currency, the price you end up paying in Sterling may come as a surprise. Exchange rates can be very volatile (we have witnessed movements of as much as 10% a month in recent years), the cost of your property could quickly exceed your budget unless you fix the exchange rate. The same will apply when moving your cash or income from investments and pensions abroad. The Hargreaves Lansdown Currency Service offers a number of ways to fix your exchange rate.
3. Other things to remember when moving abroad
You will need to notify all financial institutions you hold investments and savings with that you are moving abroad and provide them with your new address.
You may not have had very many dealings with companies you hold investments with over the years but you may need to in the future.
If you need to telephone them: Do they offer numbers that you can call from overseas that won't cost you a fortune? Will you be stuck on the phone listening to endless options?
When you sell your investments - will you receive a cheque or can the proceeds be paid directly into a bank account? Usually it will help to maintain a U.K. bank account for dealing with the proceeds of investment sales etc. efficiently.
If you have accumulated savings and investments with a number of different managers over the years it is likely that your dealings when you go abroad will be more complicated than they need to be. Consolidating your investments in the Vantage service will help you make more of your money.
How Vantage could help you
- A single point of contact if you ever need to change your address or manage your accounts.
- One master password to keep track of and easily manage all your investments on the internet and by phone.
- Less paperwork, with our paperless service you could cut down considerably on the amount of paperwork sent to you in the post.
- Free research alerts for funds will keep you updated on the investments you hold in Vantage and all our research is available online.
- A single tax statement including all your taxable investment income for the year to help you calculate your tax position.
- The option to withdraw cash directly to a nominated U.K. bank account.
- A standard U.K. number to call. You won't be made to select from endless options, you will come straight through to us here in Bristol.
Once you are living abroad
Hargreaves Lansdown should still be able to help you make more of your money when you are living abroad. To find out how we can help you please select your country of residence on the right hand side of this page.
Should you need to contact Hargreaves Lansdown from abroad you will find all of our contact details including telephone numbers which you can use to contact us from overseas in the 'Contact us' section of our website.
At various stages, you will probably need to buy foreign currency and transfer it abroad. By using your bank, you could end up spending hundreds if not thousands of pounds more than you need to by paying commission, high transfer fees and most importantly, by getting a poor exchange rate.
How to transfer
Transferring your ISA, funds, shares or pension to Vantage is easy. Simply complete, then return the short form and we will do the rest.
When you move
Please select the country you are moving to from the list below to see how we can help.
If you will be temporarily resident overseas, you are classed as resident in the U.K for tax purposes and if you have a U.K address you can continue to deal with us in the normal way regardless of where you are currently living.
Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek financial advice. Tax rules can change and the value of any benefits depends on individual circumstances.
Useful information and links on preparing to move or retire abroad.
Our website is intended for U.K. investors and this section is designed to help those who are planning to move abroad in future.