Apply the UK ISA tax relief to investments I hold in my home country
I'm Spanish but I work and live in the UK, therefore my the latter is my tax residence.
I want to start investing from my home country to avoid problems if I leave the UK (frozen accounts and the like). I guess that I would need to declare my (hypothetical) gains and pay taxes for them in the UK, right?
If so, how can I link these gains to an UK ISA to get the corresponding tax relief?
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You can't. ISAs can only be provided by authorized ISA managers, and they are in the UK. (Official list here www.gov.uk/government/publications/list-of-authorised-isa-managers/isas-authorised-managers .) You will not find one in Spain, and can't you just magic up your own ISA wrapper around some Spanish assets. (Also note that attempting to become an authorized manager yourself is not feasible - see exclusions in www.gov.uk/guidance/apply-to-be-an-isa-manager !)
I wouldn't be too worried about problems if you open a UK ISA and then leave the country; it's a common enough situation. Official advice at www.gov.uk/individual-savings-accounts/if-you-move-abroad
An alternative to investing via an ISA in the UK would indeed be to use a Spanish broker or bank etc instead. But you would likely then have the hassle of declaring any gains and income to HMRC via (probably) a self-assessment's foreign pages, while those gains and income would be tax-free in an ISA.
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