| 2010 is set to be significant year for the respective | | | | get the most from their savings may be enticed by |
| banking industries of many countries around the | | | | offshore interest rates which are proving to be |
| world. In the UK customers look set to find the best | | | | higher. |
| savings deals, and banks are predicted to make | | | | Yet it is not just promising rates which looks to |
| moves to re-establish trust with savers more eager | | | | benefit the offshore sector, 2010 is also seeing |
| to switch to new accounts and new providers. So | | | | something of a new era of transparency demanded |
| how is the offshore savings sector likely to change? | | | | of those with offshore accounts. HM Revenue & |
| For savers in the UK, the Bank of England base rate | | | | Customs have called for offshore savers to notify |
| looks likely to remain at the historically low 0.5 | | | | them of their offshore accounts if they have not |
| percent for a good few months yet, with some | | | | already done so in order to cut down on the number |
| even predicting that it'll stick around for the entire | | | | of UK residents expected to be using offshore |
| year. Consequently, more and more savers looking to | | | | accounts to evade tax illegally. |