Offshore investors told to do their homework - Published:19/11/07
People considering moving their money offshore should ensure that they have researched the marketplace and have sought professional advice, it has been claimedAccording to Rhiannon Williamson, director of Shelter Offshore, investors should not make a decision to offshore their money without first consulting a expert adviserInvestors need to be aware that getting such advice may denote they do not waste time and money next a strategy that may not be worthwhile, she said"Not everyone can advantage from going offshore in any way and so it is not worth the time and expense for such populace, so get personal advice before you act," she recommendedEarlier in the year, Rachel Thrussel, skull of savings at Moneyfactscouk, said that the rates obtainable with some offshore savings accounts made them more attractive than some onshore productsHowever, consumers should be cautious of the tax implications of such accounts and know their defense rights to ensure they obtain a suitable deal, she affirmedOffshore investors told to do their.
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A Supersafe Home For Your Savings - Published:27/09/07
new events at leading mortgage lender Northern Rock have left many British savers feeling distinctly wobbly (For more information, see Good And Bad News For Rock Saversstipulation you feel that a well-known high-street bank isn't a ‘100% secure' home for your spare cash, then where isActually, I'd quarrel that it's not possible for British savers to find a completely secure' home for their money, that is, one with no chance of any loss whatsoever After all, even ruler governments sometimes default on their debts This has happened often in Latin America and the distant East, and in Russia, where a huge default in 1998 shaped chaos in world financial marketsHowever, our economy is the fifth-largest in the world, so the UK government enjoys a superior credit rating Nevertheless, in the unlikely event that power was seized by, say, a radical communist social gathering, then Britain might default on its debts This happened in the Russian Revolution ninety existence ago, but is highly improbable in Britain, as I'm sure you'll agreeSo, if absolute security is what you're after, then the government's piggy bank, National Savings & asset (NS&I) should be your first port of call The good information is that you don't have to give up high interest rates in return for this security, as NS&I has some cracking tax of interestIn Six secure Havens In A Storm, I mentioned that NS&I has an excellent cash ISA, which is a tax-free savings explanation which pays a table-topping rate of interest If you refuge't used your cash ISA allowance for the 2006/07 tax day, then you can deposit up to £3,000 into this account between now and 5 April 2008The minimum deposit into the NS&I Direct ISA is £1,000, and the interest speed is a tidy 630% AER In other language, a lump sum of £3,000 would make you tax-free interest of £189 over the next twelve months This ISA also guarantees that its interest rate will be 055% above bottom rate until 05/04/08 Not bad for a no-risk savings account, agreedThe latest shape for the sell Prices Index (RPI, one measure of inflation), released previous today, showed the RPI rose to 41% last month Thus, the above Certificates currently disburse a tax-free 545% a year to savers, which equates to a before-tax go back of 681% a day for basic-rate (20%) taxpayers or 908% a year for higher-rate (40%) taxdisburseersThese Certificates disburse the fixed, tax-free tax of interest shown above, if held for the full two or five years For basic-rate taxpayers, these tax are worth a before-tax 494% a day and 481% respectively For higher-rate taxpayers, the rates are 658% a day and 642% respectivelyOn top of the £63,000 which you can invest in the above savings products, you can also invest from £100 to £30,000 in Premium Bonds With average fortune, a large asset in Premium Bonds should yield the equivalent of a tax-free 4% a year This is value 5% a year to basic-rate taxpayers and 667% to higher-rate taxpayers However, if you are unlucky, then your return could be much lower otherwise even zero) over the course of an entire year, so tread carefullyBy the method, one great irony of the Northern Rock debacle is that many savers who refuse to consider the Chancellor's promise to guarantee their deposits have switched big sums into NS&I Come on, folks, either you trust the government's promise to repay or you put on't Which is it to beFinally, I've heard plenty of talk about savers withdrawing their money in arrange to hide it under mattresses There are two problems with this: mattresses put on't pay any interest, and your money could easily be gone in a fire or burglary So, banks are still safer than mattresses, any dayMore: Take a look at these great savings financial records, tax-free investments and children's financial records | Great News From The praise Crunch | The Perfect Savings Account© Copyright 1998-2007, The assorted Fool Limited All rights reserved This material is for personal use onlyPlace of Reg: England & Wales corporation Reg No: 3736872 VAT Reg No: 735 7818 01 Registered.
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Abbey fixed-term savings bonds launched - Published:19/09/07
Abbey has launched a trio of new fixed-term investments bonds with a minimum opening equilibrium of £1The first of these is Abbey's 50 advantage Bond, which has a fixed monthly AER of 625 per cent over three yearsA gross yearly AER of 625 per cent is offered over four existence in the novel Children's Savings BondAnd there is also a regular fixed-rate tie which can be guaranteed for one, two or three years"The 50 advantage market holds 60 per cent of all savings and are responsible for over 40 per cent of all consumer demand and Abbey is resolutely committed to offering compelling ideas for this collection," said Abbey's head of savings and savings Reza Attar-Zadeh"We also expect the other bonds available in this launch to plea to both those saving for children or looking for regular interest payments"Abbey investments recently advised populace who are considering opening individual savings accounts that they should make sure the accessibility options offered by the.
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