International investment platform Novia Global has launched its own stocks and shares ISA to address the issue of expats’ savings being left in “suspended animation”.
Suspended animation is where UK expats invested in ISAs can no longer add additional funds, and any gains/income derived from the ISA could be subject to tax in their country of residence. Novia's new offering aims to help "plug a significant gap in the market" by allowing Brits who move or work abroad to have their ISAs managed alongside their other assets. HM Revenue & Customs recently approved Novia as a UK-registered ISA manager which means expats can now transfer their existing ISAs and incorporate them within their broader Novia accounts. The Novia Global ISA is described as ...
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