The Derbyshire (Isle of Man) is launching an interest accumulator account for British residents looking to move away.
The account has been designed for clients expecting their UK taxation obligations to change at a future date, as a result of moving to Europe, offering control over the date which interest is payable, therefore when tax liability is due.
Interest is calculated and accrued daily but will be paid out on the day you close the account, which must be held for at least two years.
The account has four tiers and variable rates up to 4.60
per cent on deposits over 100,000.
The account requires a minimum balance of 10,000 and a maximum of 2m, and is only available in Sterling, with a minimum transaction of 100.