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Off shore bank acc.
teebrown
Posts: 9 Forumite
We will be having our 22yrs lump sum paid to us soon, and i was wondering if an off shore bank account was the answer to stop the taxman getting hold of it. we will be emigrating when it is paid but we want to keep it this side of the water to gain interest.
Any ideas?
Any ideas?
0
Comments
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The lump sum is tax free. Only the income from it is taxable which can be avoided in a number of ways (ISA, personal allowance, off-shoring).
You might get a wider response if you repost/search this in the "cutting tax" or "savings & investments" boards0
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