How safe are my business savings?

[birdy-numnum]

Does anyone know if businesses have the same protection from the government regarding business reserves (savings) held in UK banks?

Does this protection also apply to savings held in foreign owned banks such as Abbey and ING?

[hugebrain]

No they don't have any protection under the existing scheme.

[rootsnall]

Good point ! I never thought about that when leaving a big wad in the business account.

[PAH]

Just overpay your tax bill with whatever reserves you have, then claim it back when you need it. You'll even get interest at a decent rate!

[KentPhilip]

Just overpay your tax bill with whatever reserves you have, then claim it back when you need it. You'll even get interest at a decent rate!

Do you get taxed on the interest? Tax on tax is it - I'm confused?

[Gordon Brown]

Just overpay your tax bill with whatever reserves you have, then claim it back when you need it. You'll even get interest at a decent rate!

Have you thought of joining the Labour Party. We need more smart cookies like you.