Legals

Tax and the EU Savings Tax Directive

You must remember that you are responsible for declaring any interest that you earn to the relevant tax authorities. If you are an EU resident individual you are responsible for choosing whether you want your interest to be subject to retention tax, or exchange of information on the interest that you have earned. It is important to note that the default position is for retention tax to be applied. Exchange of Information will only take place upon the specific written instruction of the customer. If you are an EU resident individual, you must indicate on your application form whether you wish to opt for retention tax or exchange of information.

Should you seek an exception, the reason for the exception and supporting evidence will be required. Please note the choice of retention tax or exchange of information will apply for the whole calendar year. Should you wish to change your choice in subsequent years, you will need to inform us in writing by the first of December each year.


Law

In the event of a legal dispute, The Laws of the Island of Guernsey will apply. You should check that under the laws of the country of your domicile and residence that there are no restrictions which might limit or prevent your dealing with us. It is your responsibility to investigate such requirements and seek the necessary legal advice if you are unsure of your position.