How?
Banking - Interest rates
- Thread starter Aruffell
- Start date
Not necessarily. It depends on your income.
Again, how? I thought everyone got up to £1000 interest tax free. If you're looking at 2% rate then you'd only need to worry once you have over £50k in the account, no?
Again, how? I thought everyone got up to £1000 interest tax free. If you're looking at 2% rate then you'd only need to worry once you have over £50k in the account, no?
I only get £500 interest tax free because I pay 40% income tax.
Pay more into a pension to bring you down to basic rate.
Not that I have a great deal to save but I've been looking into index trackers as an alternative to a savings account. Currently squirreling into a Help to Buy ISA for the free money from the government, but the rate is dropping from 4 to 3.5%, and it'll take me another 4 years to fill it up as you can only deposit £200 a month.
Again, how? I thought everyone got up to £1000 interest tax free. If you're looking at 2% rate then you'd only need to worry once you have over £50k in the account, no?
Nope. If you earn over £150k you get £0
Deleted member 66701
Deleted member 66701
Yeah, I'm going to pay £107k into my pension just to drop me into the £43k tax bracket so I get an extra £500 tax free savings allowance
I keep eyeing up index trackers but not pro-active enough to do anything about it :S
Yeah, I'm going to pay £107k into my pension just to drop me into the £43k tax bracket so I get an extra £500 tax free savings allowance
You must be pretty much in the £0 bracket?
It's redundant the HTB ISA when the Lifetime ISA comes out.
Both give you a 25% bonus on your first home, but the saving limits are like 4k/year for the LISA.
Mmm, we'll have to see what the interest rates are like but it's hard to argue with a free grand a year.