15 February 2010 - New fixed rate Bond paying 3.50% gross p.a.
Skipton International Limited the specialist Guernsey based savings and mortgages organisation, has launched a new fixed rate sterling account paying 3.50% gross per annum.
With a minimum deposit of just £10,000 and all balances earning the same high rate of return, the new Skipton International 2 Year Bond will appeal to a broad range of savers. As a result, the maximum balance allowed per customer has been set at £1,000,000, but larger sums may be accepted, subject to negotiation. This is a strictly limited offer account and once opened, additional funds cannot be added or withdrawn during the two year term. Full details of the account are available on the Skipton International website.
Interest will be paid annually on 31 March 2011 and again a year later upon maturity of the account. Interest can be capitalised or paid away to an account of the customer?s choice.
Commenting on the new Bond, Commercial Director Jim Coupe said, "The new Skipton International 2 Year Bond offers a combination of an attractive interest rate which is fixed, so savers will know exactly how much they will receive on the two interest payment dates. We have designed the account to run over two years, as we believe this will offer a good balance between long term stability and ease of access to funds in the future."
At the end of the two year term the account reverts to a variable rate no notice structure.
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European Union Savings Tax Directive
Information for all EU Residents (including the UK)
This communication outlines the changes implemented, by the Government of Guernsey, on 1 January 2011, to the EU Savings Tax Directive ("The Directive").
Automatic Exchange of Information
If you are resident in the EU (including the UK) gross interest will be paid to you and be subject to an automatic exchange of information with The Guernsey Income Tax Authority. This report will detail your full name, postal address, account number/s, date of birth, place of birth, tax identification number (if known) and the amount of interest added to your account/s. Thereafter this will be forwarded to the tax authorities in your country of residence.
If you are deemed to be "non-domiciled" for tax purposes in your country of residence, we may be able to pay you gross interest without the need to submit an exchange of information report. To arrange this we require confirmation of your tax status, e.g. a letter issued by the tax authorities in your country of residence or accountants.
Non EU residents will continue to receive gross interest and it remains the responsibility of individual investors to disclose the interest earned on their accounts to the relevant tax authorities.
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