Offshore account

Hello Community,

Any plans to offer UK offshore current accounts with Monzo, i.e. based in Isle of Man, etc. Many international London residents resolve to offshore accounts to make the most of their non-dom status.

Thanks

I bet they do! :shushing_face:

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This like a way of avoiding tax?

Yup, pretty sure it is.

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Thought so but first time I’ve seen someone requesting a tax haven account from an ethical bank

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To be specific, it’s a way to claim PAYE taxes back from HMRC for days worked outside the UK. It’s a UK tax relief scheme, not tax avoidance.

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Good question. Why stop at the Isle of Man? When are Monzo going to pull their fingers out and open that branch in the Cayman Islands?

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