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2 Answers
if i take out a fixed rate bond at 1.70
as a taxpayer
what would be the monthly income
as a taxpayer
what would be the monthly income
Answers
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You have not told us how much you are investing. Anyway, for every £1,000 you invest you will get £17 a year interest, so £1.42 a month.
Most basic rate taxpayers are allowed to receive £1,000 in interest payments without paying any tax. However, the situation is different for low earners and high earners. Full details here:
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Most basic rate taxpayers are allowed to receive £1,000 in interest payments without paying any tax. However, the situation is different for low earners and high earners. Full details here:
https:/
It depends on how much you invest and how the compound interest rate is applied (yearly, monthly, even daily in some rare cases).
And then, as Newjudge has pointed out, it depends on your tax situation (although as tax is no longer deducted at source for such cases, this would only affect your ultimate nett income, not your gross income from the Bond).
And then, as Newjudge has pointed out, it depends on your tax situation (although as tax is no longer deducted at source for such cases, this would only affect your ultimate nett income, not your gross income from the Bond).
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