Tax on uk bank accounts

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Tax on uk bank accounts Empty Tax on uk bank accounts

Post by LisaSard on Mon Jun 17, 2013 2:52 pm

We are planning our move to Italy next year and I'm trying to plan ahead! We have been regularly contributing to a couple of savings accounts and a Child Trust fund for my daughter who is 9 years old and was considering adding additional funds to them before we leave the UK, however, I was wondering whether these accounts would be taxable in Italy once we become resident? 
I've just taken for granted that childrens savings are tax free as they are in the UK, but perhaps not?

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Post by Admin on Mon Jun 17, 2013 4:08 pm

Are they in your daughter's name? I can't see they would be taxable if in your daughter's name.
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Post by LisaSard on Mon Jun 17, 2013 5:09 pm

Yes they are in her name, I didn't think she would be taxed either, but then I thought that this is Italy and it would be stupid to just assume that things work the same way as they do in the UK, so I thought I'd check Very Happy

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Tax on uk bank accounts Empty Always worth checking here....

Post by stevegwmonkseaton on Mon Jun 17, 2013 7:10 pm

LisaSard wrote:Yes they are in her name, I didn't think she would be taxed either, but then I thought that this is Italy and it would be stupid to just assume that things work the same way as they do in the UK, so I thought I'd check Very Happy

Very Happy Very Happy:D:D

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