Derbyshire account delays payment of interest

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A bank account has been launched by the Derbyshire (Isle of Man) that delays payment of interest unt...

A bank account has been launched by the Derbyshire (Isle of Man) that delays payment of interest until the account is closed, making it potentially useful for those wishing to manage the consequences of the EU Savings Tax Directive. Because the directive only applies to EU tax residents, and to interest paid, a user of this account can save the interest in expectation of going abroad, at which point they can close the account and claim the interest. The Derbyshire points out that the launch of the account is unrelated to the STD, which came into effect in July. Fiona Passey, director of o...

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