ChatterBank1 min ago
My 20K 2 Year Fixed Isa Has Just Matured. Where To Put It Now
17 Answers
Hi my 20k ISA has matured and I am looking to put it where the best interest is.
I have a santander 123 current account which pays 3% but tax is taken off but it still seems the place to put it as all the banks ISA`s are paying measly amounts tax free.
What does the Santander interest rate of 3% minus tax work out at?
TIA
I have a santander 123 current account which pays 3% but tax is taken off but it still seems the place to put it as all the banks ISA`s are paying measly amounts tax free.
What does the Santander interest rate of 3% minus tax work out at?
TIA
Answers
as a basic rate taxpayer you would get 2.4% and 1.8% as a higher rate.
18:22 Mon 18th May 2015
If your ISA has just 'Matured' you have obviously had it tied up for some time. Why would you now want to loose the ISA wrapper it now has, by putting it in a savings account ?
Surely the only way forward is to retain the ISA wrapper and re-invest in another ISA to compound the tax free growth.
You can invest in an ISA without tying your capital up for a given period.
Surely the only way forward is to retain the ISA wrapper and re-invest in another ISA to compound the tax free growth.
You can invest in an ISA without tying your capital up for a given period.
You've downgraded your lifestyle and now only work 55 hours per week ??
Jeez - what did you work before ??
Don't forget, as from April 2016, you can earn £1000 interest a year, without having to pay tax (basic rate tax payer), so your 3% on your £20,000 will yield £600, which will all be tax free .... unfortunately it's not until next April, but it's something to bear in mind.
A good read here:
http:// www.thi sismone y.co.uk /money/ saving/ article -301001 8/Has-C hancell or-Geor ge-Osbo rne-s-r adical- Budget- reform- killed- cash-Is a.html
Jeez - what did you work before ??
Don't forget, as from April 2016, you can earn £1000 interest a year, without having to pay tax (basic rate tax payer), so your 3% on your £20,000 will yield £600, which will all be tax free .... unfortunately it's not until next April, but it's something to bear in mind.
A good read here:
http://
So 15 hours+ a week overtime given up, means a substantial reduction of income but I have now got some time off, which until a short time ago I did not realise I could do other things besides work and occasionally play.
Happy times ahead although poorer (lol)
It has halved my income as the hours I have given up on overtime equates to a normal income
Happy times ahead although poorer (lol)
It has halved my income as the hours I have given up on overtime equates to a normal income
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