Bowman Offshore Bank Transfers on everything you need to know about offshore savings accounts

Offshore savings accounts allow you to save in different currencies. And, contrary to popular belief, you don’t have to be hugely wealthy to take advantage of them. Offshore savings accounts may have a high profile thanks to scandals involving famous names using them to avoid paying tax – but the reality is that account holders do still need to pay tax. In truth, there’s little point opening an offshore account in the hope of dodging tax because you are generally liable for tax on the interest you earn in the same way you would be in the UK.