Quizzes & Puzzles1 min ago
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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
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No best answer has yet been selected by yrneh1938. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.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:
https:/ /www.go v.uk/ap ply-tax -free-i nterest -on-sav ings
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).