I have come into a small inheritance. It is in sterling and I would like to keep it in sterling for a couple of years. As I live in the RoI, can I open an account with any UK bank? Do they have an equivalent of DIRT? If so, do I still have to declare it to Revenue here? Can I open an account online? Are the higher UK deposit rates available to non-residents?
I have come into a small inheritance. It is in sterling and I would like to keep it in sterling for a couple of years. As I live in the RoI, can I open an account with any UK bank?
Probably but with difficulty - I had a sterling account with LloydsTSB whilst living in France and Ireland, but then it was opened years ago when I was UK resident.
Yes if you choose your bank carefully, but Anglo Irish bank here have quite competitive sterling deposit accounts with different terms, and DIRT is deducted automatically. This is the option I chose when I closed my LloydsTSB UK accounts as their rate were no longer competitive
I think you can open GBP£ denominated accounts with some Irish banks if that's what you need (e.g. because you don't want to convert the money to € now or at all). Maybe try Anglo Irish Bank.
Thanks for the replies. Contacted Anglo Irish and sorted out the T&Cs and a form. Offering 6.05%p.a. gross for 2 years. Also, local NIB will offer the facility as long as balance is over stg£10k. They will ring back with the rates.