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bank account for management company sinking fund

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  • 18-02-2010 11:54am
    #1
    dubb
    Registered Users Posts: 61 ✭✭


    As an apartment development management company we are setting up a separate bank account for our sinking fund, as will probably be compulsary when the Multi-Unit Developments Bill eventually gets passed.

    Any recommendations on the type of account we should open? The current account is with AIB, so it would be simplest to stick with them.

    I heard somewhere that there is a limit on the amount of interest a small management company can earn without requiring additional form filling, and possibly costs. What legislation covers this? Anyone know the limit?
    Can we be exempt from DIRT?

    Ideally we'd like a high-interest account, and certainly not an account attracing bank fees.

    Any advice appreciated.


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