I'm in a very similar boat. I've got company reserves split across 4 different banks... yes the interest is poor, but my reason for doing it is primarily risk mitigation - no matter how small I'd rather not risk the bank going bust and the company not being covered by the compensation scheme. Whilst the company does earn a small amount of interest on this, it is trifling compared to company income from trading activities, and it pays tax on it too.
Do bigger firms not make sensible low-risk decisions like this, or do they leave all their funds in a single trading account? I don't believe they do.
As you suggest NLUK, going through an MVL is the most tax efficient solution to this problem, but it's not really an option mid-contract (is it?!) so I'm stuck until I can line up being able to take some time off.
Do bigger firms not make sensible low-risk decisions like this, or do they leave all their funds in a single trading account? I don't believe they do.
As you suggest NLUK, going through an MVL is the most tax efficient solution to this problem, but it's not really an option mid-contract (is it?!) so I'm stuck until I can line up being able to take some time off.
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