In his budget statement last year, the British Chancellor of the Exchequer announced a tax free savings scheme called – ISA i.e. Individual Savings Account. The scheme replaced an earlier one called – PEP i.e. Personal Equity Plan.
Unlike PEP, ISAs don’t have national boundaries which means Ghanaians living and working in UK can take advantage of the high interest rates in Ghana and make “a literal kill” – absolutely free of UK income tax.
For details of ISAs, their cousins and all, plus how to make such “a kill” through simple arbitraging, read the “Money Matters” Column in the forthcoming edition of Ghana Review International Magazine. Out in May 1999. Money Matters is edited by Nana Otuo Acheampong, Editor-in-Chief of GRi and a Senior Lecturer in Finance at the University of Portsmouth.
