Currently, UK pensioners in receipt of a Government pension are denied the right to augment existing National Savings and Investment  I.S.A.  accounts, i.e. schemes taken out before becoming resident abroad.

This is unjust because 

1.  Government pensions are wholly subject to income tax by H.M. Government at source no matter where one is resident.

2.  Part of that income tax  returning to the Exchequer services the interest paid to U.K. N.S. & I savers.

3. Those persons affected are unable to realise a modest benefit available to persons paying similar rates of tax in the U.K.

Why is this idea important?

1. It would encourage saving in a U.K. government scheme to the benefit of the Exchequer

 

2. Keep money within the U.K. that may otherwise be invested abroad

 

3. It would treat all U.K. taxpayers equally, one of the 'fair to all' cornerstones.

One Reply to “Allow UK Government Pensioners abroad to use ISA allowances”

  1. I reside in Spain and I am ex army and ex police. Obviously my pension is taxed in UK.
    This leaves me with no rights with reference to changing banks or opening or adding to my ISA. The government get my tax but give me nothing in return.. I cant see a doctor and after this year can no longer vote.

    In the last 2 years I have emailed the PMs office several times but no response so far.

    The UK gov must be getting millions in taxes from the great number of expats in Europe who have Police, Fire,Military and Civil Service pensions. We have served our Country in various forms over the years been to war for it and suffered because of it and now we are just a number no one cares about filling the exchequer .

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