14 June 2010 - New 90 Day Notice Account Offers Premium Rates to Businesses and Personal Investors
- New 90 day notice account launched
- Sterling offshore deposit product
- Minimum balance £10,000, earn up to 2.25% gross/AER on deposits of £100,000 plus
Skipton International, the Guernsey based savings and local mortgage specialist, has launched a new variable rate savings account targeting both offshore individual savers and business deposit accounts with interest rates of up to 2.25% gross/AER. The International Premium 90 account offers two interest rate tiers, with balances from £10,000 to £99,000 earning 2.00% gross/AER and accounts with over £100,000 on deposit achieving the top interest rate of 2.25% gross/AER. Annual interest on both business and personal deposits is paid on 1 June.
Monthly income options are also available paying 1.80% gross monthly and 2.00% gross monthly across the two tiers. Monthly interest is paid on the 20th of each month.
Withdrawals for sums of £1000 or more are only permitted after 90 days notice has been given. The minimum deposit is £10,000 and the maximum investment allowed is £5 million.
Skipton International Ltd offers a range of sterling, euro and US dollar accounts and is part of Skipton Building Society, the fourth largest in the UK with over £15 billion assets.
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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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