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iceland banks

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gulliver1 | 15:49 Tue 21st Oct 2008 | Business & Finance
4 Answers
is it illegal for these english councils to have accounts
in Iceland, are they classed off shore accounts, and are they exempt from english tax on the high interest earned.
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Avatar Image R1Geezer
No, No and thrice No!
16:40 Tue 21st Oct 2008
Avatar Image Ethel
No - they are not illegal
16:42 Tue 21st Oct 2008
Avatar Image kempie
Far from illegal.

ODPM, i.e. John Prescott, brought forth laws which actively encouraged local authorities to spread "their" surplus wealth throughout the world, wherever it would appear prudent to place it, to "benefit" their constituents.
16:47 Tue 21st Oct 2008
Avatar Image buildersmate
And anyway, some (if not all) these Icelandic banks set up UK subsidiaries.
21:15 Tue 21st Oct 2008

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