Alil launches bonus for tax deferral savers
confederation & leicestershire International (ALIL) is offer savers the opportunity to boost their economy and benefit from tax recess with a new bonus publicity on its International Deferred involvement Account (IDIA).
The publicity, which is payable on new IDIA business relationship opened with funds of £100,000 or more, pays a bonus of 0.35% over the criterion rate of 5.95% (variable) until 30 June 2008.
The International Deferred involvement Account (IDIA) offering:
- a competitive interest rate of 5.95% gross pa/AER (variable) on balances of £100,000 or more, already 0.70% above the Bank of England base rate.
- an additional bonus of 0.35% on balances of £100,000 or more guaranteed until 30 June 2008 and payable to client opening a new IDIA business relationship with funds not already deposited with ALIL.
- lower limit sterling balance of £10,000, upper limit of £1,000,000.
- entree to funds with 180 days' notice in the first three years with blink of an eye access after this time period.
- ability to entree and manage account anytime, anywhere in the world via ALIL's online banking system.
- involvement payable on closing of the business relationship (not yearly or every month) allowing client to plan their tax liability.
ALIL claims to be the first offshore bank to launch an international deferred involvement account, and says this merchandise has been developed with high net worth savers in mind and “is ideal for those who wish to sedimentation large amounts and manage their tax liability at the same time, enabling customers to control the timing of their tax reception.
“The new limited offer ‘bonus’ is designed to encourage international savers to think about their attack to tax planning given the approach tax year end.”
Existing IDIA client who top up their balance to £100,000 or more with new money during the publicity period can earn 6.30% on their total balance, confirms ALIL.
Simon Hull, Managing Director, tells Expat Investor, “ The account allows free withdrawals on 180 days' notice – so it's ideal for those who are prepared to limit the access to their savings and are able to plan withdrawals in advance for a highly competitive interest rate. At the same time, they are able to manage their tax liability and have control over the timing of receipt of their tax within a secure online environment, anywhere in the world.”
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