1 July 2010 - New Business Easy Access Account Launched by Skipton International
The Skipton International Business Account will be launched on 01 July 2010, with the aim of offering easy access business deposit terms to companies, trusts and intermediaries. Both annual and monthly interest options are available to offer maximum flexibility.
The account offers tiered rates of interest, so larger deposits will earn higher rates of return on the whole balance. Deposits of over £1 million will earn a variable annual rate of 1.50% gross/AER or 1.30% gross for monthly interest (1.31%AER). For balances between £10,000 and £1 million the annual interest rate will be 1.40% gross/AER or 1.20% for monthly interest (1.21% AER). Balances below £10,000 will attract 0.10%.
Commenting on the launch, commercial director Jim Coupe said, "Our new International Business Account is easy to understand and operate. In designing this product, we have sought to bring to the corporate market the same high standards of transparency that we are known for in the domestic savings market in Guernsey."
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Jersey House Prices continue flat trend
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16 May 2011
Guernsey House Prices increase
House prices in Guernsey have increased and volumes broadly stable
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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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