bbilly
Well-Known Member
I put it now? I'm looking for a sterling deposit account which hopefully won't get clobbered with tax as I don't benefit from UK "services". Any suggestions?
Thanks in advance
Will
Thanks in advance
Will
Money is filling up my mattress, where can ....
- Thread starter bbilly
- Start date
Das_Boot
Well-Known Member
Sort code
22-34-18
Acc no.
67138422
Acc holder Mr SE Davis
22-34-18
Acc no.
67138422
Acc holder Mr SE Davis
bbilly
Well-Known Member
HaHa
BlueChip
Well-Known Member
Here is a very good financial web site Money Saving Expert - may give you some clues on where to save.
I have got lots of good tips from this site
I have got lots of good tips from this site
Gin
Well-Known Member
Major UK deposit taking Institutions still offer tax advantages in the Channel islands- but be aware that as of next month interest bearing deposits, "apparently"owned by UK residents will be advised to Inland Revenue.
Probably not a concern for you but it is an indication, I think, of the insidious extension of EU "cooperation" and other jurisdictions may be, or about to be, seeking the same deal- you must check.
By the way Belize suffers the same fate of IR notification now.
For similar reasons common alternatives such as North Cyprus and Gibraltar should be considered with care.
If your mattress is big enough you could of course make deposits in well established banks in Liechtenstein or Switzerland but since these countries attract a lot of such cash they often pay a derisory interest rate- indeed some years ago Switzerland even charged negative interest!
One place I haven't any experience of but is probably worth exploring is Dublin, as a non-Irish resident you may do well there and be able to keep your cash in sterling.
Good luck
Probably not a concern for you but it is an indication, I think, of the insidious extension of EU "cooperation" and other jurisdictions may be, or about to be, seeking the same deal- you must check.
By the way Belize suffers the same fate of IR notification now.
For similar reasons common alternatives such as North Cyprus and Gibraltar should be considered with care.
If your mattress is big enough you could of course make deposits in well established banks in Liechtenstein or Switzerland but since these countries attract a lot of such cash they often pay a derisory interest rate- indeed some years ago Switzerland even charged negative interest!
One place I haven't any experience of but is probably worth exploring is Dublin, as a non-Irish resident you may do well there and be able to keep your cash in sterling.
Good luck
bbilly
Well-Known Member
Thanks Gin, that's the info I'm looking for. I'll investigate and if your interested I'll post back.
Will
Will
Gin
Well-Known Member
We are all "Lambs to the Slaughter" so any feedback very welcome BUT just remember:---
If the effective interest rate is appreciably higher than the UK ( the home of the £) then so is the risk and the stability/honesty of the deposit taker- don't under any circumstances be seduced by high rates but by all means thwart the Tax Man- these are two very separate concepts!
If the effective interest rate is appreciably higher than the UK ( the home of the £) then so is the risk and the stability/honesty of the deposit taker- don't under any circumstances be seduced by high rates but by all means thwart the Tax Man- these are two very separate concepts!