Tax Law: The European Savings Directive

The European Savings Directive ("ESD") was implemented on 1 July 2005. If you live in a country affected by ESD certain information about you and the interest you receive may be reported to your tax authority. Any rates quoted on this site, are stated before the application of withholding tax (if applicable).

It is your responsibility to be aware of any tax requirements in your country of permanent or tax residence and in the country in which you intend to bank. If you have any further questions please ask for our European Savings Directive 'Frequently Asked Questions' fact sheet. We always recommend that you seek independent professional tax or legal advice.

Barclays Private Clients International clients only

If you reside in a country affected by the European Savings Directive (ESD) then we will be required to deduct tax from the interest earned on your savings. If you would prefer us to pass information about you and your savings income to the tax authority in your country of permanent residence (known as "Information Exchange") and therefore to pay your interest gross, you must indicate this to us at the time of opening your account.

We can treat you as excluded from ESD if either:

• (a) You are permanently resident in the UK or Republic of Ireland and you can provide evidence demonstrating:
  • You are domiciled outside of the UK or Republic of Ireland; and
  • You are not liable for tax in your country of residence on your savings income earned outside the UK or Republic of Ireland; and
  • You do not intend to remit that income to that country,

• (b) You are permanently resident anywhere in the EU and can provide evidence demonstrating that you are tax exempt in your country of permanent residence

In either case, we require evidence to be supplied from professional bodies (such as your tax authority, accountant and/or lawyer).

If you require further information about ESD and how it might affect you, you should contact your independent tax adviser.

Products and services on this site may not be available in certain jurisdiction. In particular, these products and services are not being offered in Japan or the United States or to US residents. For full details of exclusions and disclaimers please see the Important Information before proceeding. Each Barclays Wealth company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.