Michelle28 Posted October 1, 2004 Share Posted October 1, 2004 HiI purchased many euros a few months ago on forward contracts and now find myself sitting with them doing nothing. There has been enormous delays in getting our new build started so I can't even pay it out to anyone. We have a french bank account. At the moment the euros are being held in an account by the company from whom I bought them - in my name. My husband is a higher rate tax payer - not sure if this makes a difference. The French account is in both our names. My question is - would it be worth transferring the money into that account in France to earn just a little or would it all get a bit confusing with tax due on interest etc. I am hoping that I will be paying out big chunks of the money in the next few months. Would really appreciate some advice.Michelle Link to comment Share on other sites More sharing options...
BJSLIV Posted October 1, 2004 Share Posted October 1, 2004 You could open an account with ING Direct in France (www.ingdirect.fr) , in your name, move the money into that and get a bit of interest. If you are still living in the UK they will pay it tax free, and if its in your name you would pay tax in the UK at your rate. When you need to pay the builders you can transfer it as and when online. You won't get very much interest (3.05% gross) but as the saying goes , every little helps. Link to comment Share on other sites More sharing options...
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