Overseas ISAs

Overseas ISAs

Didn't find your answer?

Brain like a sieve this morning.  If a client has income in an overseas tax-sheltered savings account - say the Canadian equivalent of an ISA, is it declarable and taxable here?  Effectively does the tax-free status cross international borders?

And as a mirror image - if I have an ISA but go to live abroad will the tax-free interest I'm earning be taxable on my Mongolian Tax Return (or whatever).  I'm sure the answers would be available in the individual minutiae of the DT treaty, but it's 10 Jan!

Replies (1)

Please login or register to join the discussion.

avatar
By rjoconnor81
15th Jan 2014 15:57

Depends on which country you are talking about.  I know that there are some sorts of tax-free income in the USA which is taxable here, and ISA's are taxable in the USA.  So no the tax-free status does not cross international borders, but you will need to check on each specific thing (e.g. short-term gains in the USA are taxed as dividends in USA, but the UK see them as gains).  

Thanks (0)