Important Information

Please note that you are responsible for declaring any interest that you earn to the appropriate tax authorities. If you are an EU resident individual, interest will be subject to retention tax unless you advise us that you wish us to exchange information regarding the interest with your relevant tax authority, in which case the interest will be paid gross. If you are not an EU resident individual, interest will be paid gross. The default position is for retention tax to be applied. Exchange of information will only take place upon your specific written instruction.

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, then the reason and supporting evidence will be required. 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. For further information or to request a leaflet, EU Savings Tax Directive, please call + 44 (0) 1481 711102.