Better Interest Rates On Business Accounts

[pzz76077]

12% aer limited to 2500 a month. Hmmm those limite savers always sound impressive, but..

0.95% per month, so about £1600 over a year gross of tax

That's if you put 30k in over the term. If you had 30k originally you would need an interest rate of around 5.5% gross to get the same return.

Im not trying to sell it to anyone, all I can say is that it has worked fine for me over the past 3 and a half years and paid 11% after costs.

You would need to structure the rest of your life towards not paying UK tax to have any advantage at all I would suspect.

If you are a non tax payer like myself, then there are many other options to choose from- BOA are currently paying the highest of any tax free account that I have - but the catch is that it is by invitation only.

PZZ

[Bagpuss]

http://www.abbeyinternational.com/MOS.asp Only £250 needed to open an account.

(You can open as many accounts as you like BTW, and can have company accounts- different application form, higher costs so not too sure why you would want to do this with what is essentially your money).

There are also many other options - For example Im currently getting 14.92 tax free after costs from BOA, but there restrictions.



PZZ

12% aer limited to 2500 a month. Hmmm those limite savers always sound impressive, but..

0.95% per month, so about £1600 over a year gross of tax

That's if you put 30k in over the term. If you had 30k originally you would need an interest rate of around 5.5% gross to get the same return.

[pzz76077]

Link to that??

http://www.abbeyinternational.com/MOS.asp Only £250 needed to open an account.

(You can open as many accounts as you like BTW, and can have company accounts- different application form, higher costs so not too sure why you would want to do this with what is essentially your money).

There are also many other options - For example Im currently getting 14.92 tax free after costs from BOA, but there restrictions.



PZZ

[TheFaQQer]

Because you have to pay into a Gold Account and can then transfer 20% of that transfer into the offshore account, up to a maximum of £2500 a month.

And strictly speaking they are only available to individuals, so you'd need to take the money out of the business before you can do that.

Oh, and you need £50k across your accounts with them.

[TheFaQQer]

Why would anyone want to take any of these options when you can get 12% tax free (actually 11% after costs) with the Abbey offshore account??
Risk free, online etc.

Because you have to pay into a Gold Account and can then transfer 20% of that transfer into the offshore account, up to a maximum of £2500 a month.

And strictly speaking they are only available to individuals, so you'd need to take the money out of the business before you can do that.

[Toolpusher]

Why would anyone want to take any of these options when you can get 12% tax free (actually 11% after costs) with the Abbey offshore account??
Risk free, online etc.

Link to that??

Do we have to do ALL your homework for you??

http://www.abbeyinternational.com/do...rest_Rates.pdf

[joey122]

Why would anyone want to take any of these options when you can get 12% tax free (actually 11% after costs) with the Abbey offshore account??
Risk free, online etc.

Link to that??

[pzz76077]

So my plan is to open a TD Waterhouse business trading account and buy fixed income ETFs with the money I have on account.

Abbey is paying 0% and I can buy government backed gilts (which have low volatility) whilst getting about 3% yield.

I can also invest in a corporate bond which pays 5%

Has anyone thought of doing this ??

Why would anyone want to take any of these options when you can get 12% tax free (actually 11% after costs) with the Abbey offshore account??
Risk free, online etc.

[RichardCranium]

Joey, do you like movies about gladiators?

??? Mad

It's the way you tell 'em!

[joey122]

Joey, do you like movies about gladiators?

??? Mad

[AtW]

Joey, do you like movies about gladiators?

[joey122]

So my plan is to open a TD Waterhouse business trading account and buy fixed income ETFs with the money I have on account.

Abbey is paying 0% and I can buy government backed gilts (which have low volatility) whilst getting about 3% yield.

I can also invest in a corporate bond which pays 5%

Has anyone thought of doing this ??