my first time ,£15000 kicking its heels

VIVI_3

My motheringlaw who is from denmark/and lives there thankfully)has £15000 in capital bonds which aren,t doing very well at the moment.She has decided to move them but doesn,t know where to.She doesn.t want to invest the money,just to put it in savings of some description.easy access to the money is not a problem ,neither is putting it my wifes name who lives in uk.Like any pensioner she doesn.t want her government finding or taking any of it.Has anyone got some ideas?

chesky369

Bit ungracious regarding this lady who seems on the brink of breaking her government's law and making your wife £15,000 richer. I have to say that there are several problematic areas here - you do realise that your wife will have to pay tax on this if it's in her name? So your m-i-l will probably be only moving it from the Danish government to the UK government.

VIVI_3

okay points taken but at the moment the bonds are in the m i name and registered to her danish address

KeithEssex_2

Putting aside the issue of who the investment is for I would personally put £15,000 into a Fixed Rate Bond with Birmingham Midshires.

The type of bond would depend upon the Tax situation of the investor (which you/they won't be able to avoid). If you/they want some of the interest declared in this tax year because you have unused allowances then go for monthly interest payments.

Otherwise push it into the 2008/9 year by opting for the annual interest payments on a 1 year (or greater) term.

Birmingham Midshires are currently paying 6.81% AER for a 1 Year Internet Fixed Rate Bond.

http://www.askbm.co.uk/savings/i/fixed/product.asp?id=150

Cook_County

Evading tax in Denmark is a criminal offence - take Danish income and estate tax advice.