Best High Interest account for saving up corporation tax?

cotsvale

Hi
We are a new limited company and have a business current account. We want to take advantage of the delay in paying corporation tax and save it up in a high interest account - any ideas? We think it will be about £10.000. Thank you.

ctdctd

How about Northern Rock Business Reserve at 5.35% for 10K+?

Hungerdunger

ctdctd wrote: »

How about Northern Rock Business Reserve at 5.35% for 10K+?

I think you'll find that most Building Societies won't accept funds from Companies - in fact I wonder if it's prevented by legislation.

When we were selling up our business and had funds still tied up in it, the best account we could find was Standard Life Business Bonus Account. I have no idea if it's still good value (or even if it's still going!)

Mikeyorks

As above - you may find difficulties with a High St account + a good rate.

Do consider Tax Reserve Certificates (100% backed by Treasury!) .... as you'll get 3 - 4.5% depending on how long you hold them for :-

http://www.hmrc.gov.uk/howtopay/cert_tax_deposit.htm#d

ctdctd

Hungerdunger wrote: »

I think you'll find that most Building Societies won't accept funds from Companies - in fact I wonder if it's prevented by legislation.

I think the account name gives it away - it's called the Business Reserve account - e.g. it's for businesses:T

And the Northern Rock is not a Building society - it's not much of a bank either but that's another matter;)

PauliPauli

http://www.moneyfacts.co.uk/business/bestbuys/business-investment.aspx

Pauli

corngoat

Are business reserve accounts such as the NR account mentioned above covered for the first £35K or is that just for private customers?
Also, if covered by the £35k guarantee, is this per Ltd Co. even if the directors have more than one Ltd Co.?
As always, many thanks in advance for all answers
:beer:

corngoat

Just noticed that the NR account is not an online account - does anyone know of a good high interest online account for Ltd Co's. At the moment we are with Standard Life.