Stocks and Shares and ISAs

https://www.gov.uk/individual-savings-a … ove-abroad

@Erm1ntrude interactive brokers lets you use a Bulgarian resident permit.

@Erm1ntrude

"Regulatory restrictions" doesn't mean only what the government lets them do, or not do. It includes the company's own regulatory framework relative to its customers and their geographic locations.

These financial companies have different policies on foreign-based clients, and it varies from company to company. And it varies on your exact status (you might simply be using a Bulgarian address, or you might be legally a Bulgarian Resident, or you might be a Bulgarian Tax Resident). And it varies on the companies exact status (they might be licensed across all of Europe, or worldwide, or only for specific countries such as the UK).

The HMRC rules on an ISA relate to when you cease to be a UK Tax Resident. That may (or may not) be when you get a Bulgarian address, or become a legal Bulgarian resident, or even become a Bulgarian Tax Resident.

The HMRC rules don't stop you from keeping your ISA. But I think you can no longer buy/sell (i.e. it's locked).

In practice, there are plenty of UK banks that think it's too much of a headache once you get a non-UK address. My guess is that many ISA brokers don't want to deal with the issue of foreign residents and locked accounts either, so they'll want you to transfer your ISA elsewhere.

You probably need to figure out if you're still a UK Tax Resident or if you're now only a Bulgaria Tax Resident.

And maybe you need an international brokerage who likes expats and doesn't care where you are (e.g. Saxo, InteractiveBrokers) or a local brokerage (via your Bulgarian bank).

If you lose the tax benefits of your ISA (because you're no longer a UK Tax Resident), then you need to open a regular brokerage/dealing account and you should transfer your ISA holdings to this account.

If you're still a UK Tax Resident, then you can keep your ISA. And it might be easier to keep your daughter's address on the account, rather than try to change it. But, sometimes, once the cat's out of the bag, they can be difficult (as now they know you're not in the UK).

Thanks all and @gwynj (yes, the cat's out of the bag)

I'm honing in on a couple of Bulgarian brokers that are affiliated with the EU market players (but not in BG yet).

I can transfer my holdings (not the ISA) if the BG firms  can accept them, still a way to go, but cash out and start again (rip it up and start again for Orange Juice fans) seems the default, will give the incoming govt a few quid in CGT 🙄💰