Saving in EURO and Tax situation (offshore??)

dasher2008

Hi,

Recently I convert some pounds into €15k as I was believing the GBP was going to depreciate against the EUR and I was right.
I would like to keep this amount in EUR and perhaps never convert back anymore. Hence my question? What would be the best way to get the highest interest possible and how would this be the most tax efficient.

Will an offshore account be from any benefit from me? I have a EU passport and am UK resident. Also as I am fulltime employed here in the UK and paying my taxes here.

Any advice?

Thanks!

Jonbvn

As a UK tax resident an offshore account is of no more value than a onshore account. The only difference being that interest on the offshore account will not be taxed at source. However, this interest remains taxable and must be declared on your tax-return.

I am not aware of any products in Euro's which offer tax-free returns.