View the latest Adam & Company interest rates across our product range, for both Private and Commercial clients as well as the current tax rates.
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Previous New Gross Rate p.a AER Gross Rate p.a AER 0.00% 0.00% 0.00% 0.00% - Interest paid quarterly.
- Credit interest rates for Adam Current and Student Accounts for Private Clients track the Bank of England Base Rate as follows:
- For balances over £5,000 to £10,000 – BoE Base -3.85%
- For balances over £10,000 – BoE Base -3.15%. (Minimum 0.00%.)
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Type Rate Overall Cost For Comparison Product Fee Early Repayment Charge Residential 3.75% 3.8% APRC N/A No early repayment charge Buy-to-let 5.00% 5.1% APRC Residential - Offset 4.25% 4.3% APRC Buy To Let - Offset 5.75% 5.9% APRC - The House Mortgage Rate is the Adam Standard Variable Rate and is the destination for maturing Tracker/Fixed Rate Facilities. Offset Mortgages will mature onto the Offset House Mortgage Rate as detailed above
- All rates are subject to variation
- For rates and pricing on our current Mortgage product range, please see our mortgage calculator.
- The House Mortgage Rate is the Adam Standard Variable Rate and is the destination for maturing Tracker/Fixed Rate Facilities. Offset Mortgages will mature onto the Offset House Mortgage Rate as detailed above
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Rate Follow on Rate (Variable) Overall Cost for Comparison Maximum LTV Product Fee Early Repayment Charge 3.75% 3.75% 3.9% APRC Up to 75% depending on property valuation 0.25% (Minimum £1,000) Annual Fee £250 No Early Repayment Charge Representative example:
An interest only mortgage of £500,000 payable over 25 years on our variable mortgage reserve account rate of 3.75% would require one initial interest payment of £1592.47 followed by 99 quarterly payments (maximum £4726.03) and one final payment of £3030.82. The total amount payable would be £978,808.47 made up of the loan amount plus interest (£469,058.47), a product fee (£2,500), a valuation fee (£1,250) and an annual fee (£250). The overall cost for comparison is 3.9% APRC representative.
- For rates and pricing on our current Mortgage product range, please see our mortgage calculator.
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LIBOR linked Mortgages and Loans will reference the ICE Benchmark Administration Limited (ICE) Interest Settlement Rate (or any other administrator of that rate). For details of current and historic LIBOR rates please visit this website.
- The Annual Equivalent Rate ('AER') is the notional rate which shows the gross interest rate as if paid and compounded on an annual basis.
- ‘Gross’ is the rate of interest before the deduction of Income Tax at the rate specified by law. Interest will be paid gross.
- All rates are subject to variation.
- We offer our clients money market deposit facilities in sterling, euros and other major currencies for periods ranging from call or overnight, to one year and beyond. Rates are available from your Private Banker.
- For rates and pricing on our current Mortgage product range, please see our mortgage calculator.
Adam Discretionary
Investment Management
Investment Account Interest Rates
Investment capital and income accounts may earn interest.
‘Gross’ is the rate of interest before the deduction of Income Tax at the rate specified by law.
Any interest will be paid gross.
Debit interest
Interest on any overdraft arising under the portfolio management agreement will be charged at an aggregate of the Custodian Base Rate from time to time in force and 2%. Interest will be calculated on a daily basis and will be debited quarterly in arrears to an account in your name which is held at the Custodian.
Rates for accounts
no longer available
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Previous New Year 1 AER/Gross Rate p.a. Year 2 AER/Gross Rate p.a. Year 3 AER/Gross Rate p.a. Year 1 AER/Gross Rate p.a. Year 2 AER/Gross Rate p.a. Year 3 AER/Gross Rate p.a. £25m+ 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% £1m - £25m 1.50% 1.75% 2.00% 0.75% 1.00% 1.25% £100,000 - £999,999 1.30% 1.55% 1.80% 0.50% 0.75% 1.00% £1 - £99,999 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - New rate effective from 30 September 2013.
- Interest paid annually.
- The interest rates include an underlying variable rate, the Year 1 rate as shown above, plus a fixed bonus of 0.25% paid in Year 2 and 0.50% paid in Year 3 respectively. You are permitted to make one withdrawal per year (i.e. from date of anniversary of account opening). You must provide 95 days’ notice before making a withdrawal and you are only allowed to provide notice once a year.
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Previous Balance Gross Rate p.a. AER Up to £25,000 0.00% 0.00% Over £25,000 0.10% 0.10% New Balance Gross Rate p.a. AER £1+ 0.00% 0.00% - New Rate effective from 31 October 2013.
- Interest paid quarterly.
- Credit interest rates for Adam Current Accounts for Business Clients track the Bank of England Base Rate as follows:
For balances over £1: Base Rate - 3.75%. Minimum applicable rate 0.00%.
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Unsecured Overdraft Pricing Amount Margin COF Total client Rate
Representative EAR Arrangement Fee* £0-25,000 3.5% 0.75% 4.25% 4.32% 1.5% (minimum fee £150) 4.32% 4.32% 4.32% 4.32% 4.32% 4.32% 4.32% - Arrangement Fee is 1.5% of limit (minimum fee of £150).
- Please speak to your relationship manager about your borrowing needs, including for borrowing over £25,000
- Interest on your account is calculated daily, based on your end of day balance and rate, and charged to your account quarterly.
- Representative EAR (Effective Annual Rate) is used for comparison purposes and shows the annual interest rate we reasonably expect at least 51% of customers who are accepted for and enter into the overdraft agreement to get. It is calculated by using the rate of interest charged if you remained overdrawn for a year, the frequency with which interest is charged, and the effect of compound interest on your debt. The Representative EAR does not include other fees or charges.
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Non Personal customers (Commercial, Business and Private Banking Non Personal customers) Amount Margin COF Total client Rate
Representative EAR Arrangement Fee* £0-25,000 3.5% 0.75% 4.25% 4.32% 1.5% (minimum fee £150) 4.32% 4.32% 4.32% 4.32% 4.32% 4.32% 4.32% - Arrangement Fee is 1.5% of limit (minimum fee of £150).
- Please speak to your relationship manager about your borrowing needs, including for borrowing over £25,000
- Interest on your account is calculated daily, based on your end of day balance and rate, and charged to your account quarterly.
- Representative EAR (Effective Annual Rate) is used for comparison purposes and shows the annual interest rate we reasonably expect at least 51% of customers who are accepted for and enter into the overdraft agreement to get. It is calculated by using the rate of interest charged if you remained overdrawn for a year, the frequency with which interest is charged, and the effect of compound interest on your debt. The Representative EAR does not include other fees or charges.
- The Annual Equivalent Rate ('AER') is the notional rate which shows the gross interest rate as if paid and compounded on an annual basis.
- ‘Gross’ is the rate of interest before the deduction of Income Tax at the rate specified by law. Interest will be paid gross.
- All rates are subject to variation.
- We offer our clients money market deposit facilities in sterling, euros and other major currencies for periods ranging from call or overnight, to one year and beyond. Rates are available from your Private Banker.
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Income tax rates 2017-2018 2016-2017 Basic rate for non-savings and savings income 20% 20% Higher rate for non-savings and savings income 40% 40% Additional rate for non-savings and savings income 45% 45% Starting rate of 0% for savings up to * £5,000 £5,000 Basic rate on income up to ** £33,500 £32,000 Higher rate on income up to ** £150,000 £150,000 Additional rate on income over £150,000 £150,000 Dividend rate for basic rate taxpayers 7.5% 7.5% Dividend rate for higher rate taxpayers 32.5% 32.5% Dividend rate for additional rate taxpayers 38.1% 38.1% Trusts*** 45% 45% Trust dividend rate 38.1% 38.1% * Restricted to savings income and not available if non-savings income exceeds starting rate limit.
** Basic rate limit for Scottish taxpayers is £31,500 for 2017-18. Higher rate tax is payable above this level.
*** A standard rate band of £1,000 applies, below this level income will be taxed at no more than 20% depending on the type of income.
Main income tax reliefs 2017-2018 2016-2017 Personal allowance (for income up to £100,000) * £11,500 £11,000 Personal savings allowance - basic rate taxpayers £1,000 £1,000 Personal savings allowance - higher rate taxpayers £500 £500 Dividend allowance ** £5,000 £5,000 Married couple's/civil partner's allowance (born before 6/4/1935) *** £8,445 £8,355 Transferable marriage allowance**** £1,150 £1,100 Blind person's allowance £2,320 £2,290 Enterprise Investment Scheme (EIS) at 30% ***** £1,000,000 £1,000,000 Seed Enterprise Investment Scheme (SEIS) at 50% ***** £100,000 £100,000 Venture Capital Trust (VCT) at 30%***** £200,000 £200,000 Social Investment Tax Relief (SITR) at 30% ***** £1,000,000 £1,000,000 Rent-a-room tax-free income £7,500 £7,500 * The allowance is reduced by £1 for every £2 income above £100,000.
** Reducing to £2,000 in 2018-19
*** The allowance may be reduced once income exceeds £28,000. The minimum allowance is £3,260 (£3,220 2016-17). Relief is given at 10%.
**** Available to spouses/civil partners who have unused personal allowance and are born after 5 April 1935. Relief is given at 20% to basic rate taxpayers only.
***** Capital gains tax reliefs may also be available -
For residential property transaction only Consideration paid Standard Rate
New Additional Property Rate** Value up to £125,000 0% 3% £125,001 - £250,000 2% 5% £250,001 - £925,000 5% 8% £925,001 - £1,500,000 10% 13% £1,500,000+ 12% 15% * Not applicable to property in Scotland (Land and Buildings Transaction Tax applies).
** Applies to additional residential properties (such as second homes and buy to let properties) purchased in England, Wales and Northern Ireland.
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The taxable benefit is a percentage of the full list price less any capital contribution made by the employee. The percentage is based on the CO2 emissions of the car.
Emissions Petrol 0 - 50g/km 9% 51 - 75g/km 13% 76 - 94g/km 17% 95g/km and over add 1% for every 5g/km Maximum 37% Additional 3% charge for diesel engines, subject to an overall maximum of 37%.
Different rates apply to cars registered before 1 January 1998.
Fuel benefit scale charge applies where employer provides private fuel (£22,600 multiplied by car benefit percentage).
From 2018-19 onwards there will be further increases to the rates.
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Pension savings 2017-2018 2016-2017 Lifetime Allowance £1,000,000 £1,000,000 Annual Allowance * £40,000 £40,000 Income limit for tapered Annual Allowance ** £150,000 £150,000 Money Purchase Annual Allowance *** £4,000 £10,000 * Income tax relief available on higher of £3,600 or relevant earnings, subject to annual allowance limit. Potential to bring forward unused relief from the previous three years, subject to certain limits.
** Annual allowance reduced by £1 for every £2 of income in excess of the income limit, subject to a minimum allowance of £10,000.
*** Annual Allowance reduced where an individual has flexibly accessed their pension savings.
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Capital Gains Tax Rates 2017-2018 2016-2017 Individuals/Trusts main rate * 20% 20% Chargeable gains on residential property/carried interest** 28% 28% Gains subject to Entrepreneurs' Relief/ Investors' Relief 10% 10% Entrepreneurs' Relief lifetime limit of gains £10,000,000 £10,000,000 Investors' Relief lifetime limit of gains £10,000,000 £10,000,000 * 10% for basic rate individuals
** 18% for basic rate individualsReliefs (subject to qualifying conditions) EIS/SITR deferral relief* No limit No limit SEIS reinvestment relief** 50% 50% * Deferral of gains arising up to three years before and one year after subscription
** Exemption is given in respect of shares on which SEIS Income Tax relief is given, subject to time restrictions
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2017-2018 2016-2017 Maximum overall subscription £20,000 £15,240 Junior ISA £4,128 £4,080 Lifetime ISA * £4,000 - * Available to those aged between 18-39 and future contributions allowed to age 50. The government adds 25% of amounts contributed. Funds can be withdrawn without penalty after age 60 or to purchase a first home (subject to certain conditions). Contributions form part of the overall annual ISA limit.
An additional ISA investment is allowable where a spouse or civil partner dies. The allowance is set at the amount held within the deceased person's ISA on the date of their death.
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Inheritance Tax Rates 2017-2018 2016-2017 Free of tax up to £325,000 £325,000 Main residence nil-rate band* £100,000 - Tax on excess ** 40% 40% Chargeable lifetime transfers 20% 20% Overseas domiciled spouse exemption *** £325,000 £325,000 Annual gifts exemption £3,000 £3,000 Gifts to charities Exempt Exempt Small gifts to same person £250 £250 Marriage/civil partnership gifts by: Parent £5,000 £5,000 Grandparent / Party to marriage/civil partnership £2,500 £2,500 Other person £1,000 £1,000 * Available where main residence is passed on death to a direct descendant. Tapered withdrawal for estates with a net value of £2m+ at the rate of £1 for every £2 over £2m.
** A reduced rate of 36% applies where 10% or more of a net chargeable estate is left to charity.
*** Alternatively can elect to be treated as UK domiciled for IHT purposes.
Reduced tax charge on gifts made within seven years before death Years before death 0-3 3-4 4-5 5-6 6-7 % of inheritance tax payable 100% 80% 60% 40% 20% Business Property Relief 2017-2018 2016-2017 A business or interest in a business (including a partnership share) 100% 100% Transfers of unquoted shareholdings (including AIM shares) 100% 100% Transfers out of a controlling shareholding in quoted companies, land or buildings, machinery or plant used in qualifying company or partnership
50% 50% Inheritance Tax Rates 2016-17 2015-16 Free of tax up to * £325,000 £325,000 Tax on excess ** 40% 40% Transfers to certain trusts 20% 20% Overseas domiciled spouse exemption *** £325,000 £325,000 Annual gifts exemption £3,000 £3,000 Gifts to charities Exempt Exempt Small gifts to same person £250 £250 Marriage/Civil partnership gifts by: Parent £5,000 £5,000 Grandparent/party to marriage/civil partnership £2,500 £2,500 Other person £1,000 £1,000 * Frozen at this level until April 2018.
** A reduced rate of 36% applies where 10% or more of a net chargeable estate is left to charity.
*** Alternatively can elect to be treated as UK domiciled for IHT purposes.Reduced tax charge on gifts made within seven years before death Years before death 0-3 3-4 4-5 5-6 6-7 % of inheritance tax payable 100% 80% 60% 40% 20% Business Property Relief 2016-17 2015-16 A business or interest in a business (including a partnership share) 100% 100% Transfers of unquoted shareholdings (including AIM shares) 100% 100% Transfers out of a controlling shareholding in quoted companies, land or buildings, machinery or plant used in qualifying company or partnership 50% 50% -
Capital Allowances 2017-2018 2016-2017 Plant and Machinery Annual Investment Allowance: Rate 100% 100% Limit £200,000 £200,000 Writing down allowance: General pool 18% 18% Special rate pool 8% 8% Energy saving and water efficient equipment 100% 100% Motor cars: CO2 emissions up to 75g/km* 100% 100% CO2 emissions 76g/km to 130g/km 18% 18% CO2 emissions above 130g/km** 8% 8% * New cars only
** From April 2018 the limit will reduce to 110 g/km
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2017-2018 2016-2017 CLASS 1 - EMPLOYMENT Lower earnings limit (LEL) weekly £113 £112 Upper earnings limit (UEL) weekly £866 £827 Primary threshold (PT) weekly £157 £155 Secondary threshold (ST) weekly £157 £156 Employee contributions: - on earnings between PT and UEL 12% 12% - on earnings above UEL 2% 2% Employer contributions: - on earnings above ST 13.8% 13.8%* - on employer provided benefits 13.8% 13.8% Employment allowance (per employer) £3,000 £3,000 * 0% in respect of employees aged under 21 and apprentices aged under 25 on weekly earnings up to UEL.
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Child Benefit 2017-2018 2016-2017 First child - per year £1,076.40 £1,076.40 Further children - per child per year £712.40 £712.40 Income limit * £50,000 £50,000 * Benefit withdrawn from spouse, civil-partner or co-habiting partner with highest income at rate of 1% of Child Benefit per £100 of income exceeding the income limit.
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Remittance Basis Charge (RBC) 2017-2018 2016-2017 Resident for 7 out of last 9 years £30,000 £30,000 Resident for 12 out of last 14 years £60,000 £60,000 Resident for 17 out of last 20 years N/A £90,000 Individuals not domiciled in the UK may be able to claim the remittance basis. A charge for this claim is payable once resident for over seven years.
| Currency | Currency Name | You Buy With GBP | You Sell For GBP |
|---|---|---|---|
| AED | UAE Dirham | 4.7257 | 4.8221 |
| AUD | Australian Dollar | 1.9519 | 1.9928 |
| CAD | Canadian Dollar | 1.7086 | 1.7438 |
| CHF | Swiss Franc | 1.2561 | 1.2819 |
| DKK | Danish Krone | 8.8377 | 9.0168 |
| EUR | Euro | 1.1829 | 1.2069 |
| HKD | Hong Kong Dollar | 10.0225 | 10.2257 |
| INR | Indian Rupee | 92.3221 | 94.195 |
| JPY | Japanese Yen | 142.0112 | 144.8931 |
| NOK | Norwegian Krone | 12.0531 | 12.2978 |
| NZD | New Zealand Dollar | 2.0356 | 2.0783 |
| SEK | Swedish Krona | 12.5082 | 12.7649 |
| SGD | Singapore Dollar | 1.7992 | 1.8362 |
| THB | Thai Baht | 41.0066 | 41.8481 |
| USD | US Dollar | 1.2864 | 1.3129 |
| ZAR | South African Rand | 19.5581 | 19.9668 |
Page Last Updated: 27/02/2020
ILLUSTRATION
Use the 'you buy with GBP' column when you are buying foreign currency with GBP.
- For example, if you are buying GBP 1,000 worth of Euros, it is the rate in the 'you buy with GBP' column that will apply. If this rate is '1.1154' for illustrative purposes, then you will receive EUR 1,115.40 (GBP 1,000 X 1.1154).
- If you were making a payment from a Sterling account for a value of EUR 1,000, the amount to be debited would be GBP 896.54 (EUR 1,000/1.1154).
Use the 'you sell for GBP' column when you are selling a foreign currency for GBP.
- If you are selling Euros to us, it is the rate in the 'you sell for GBP' column that will apply. If this rate is '1.1384' for illustrative purposes, then for EUR 1,000 you will receive GBP 878.43 (EUR 1,000/1.1384).
- If you were making a payment from a Euro account for a value of GBP 1,000, the amount to be debited would be EUR 1,138.40 (GBP 1,000 X 1.1384).
These are indication rates only and payments made or received on your behalf by Adam will be converted at the rates prevailing at the time. These rates do not apply to currency notes or travellers cheques.
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