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Sweet.
I only have a fixed saver with them so didn't expect to get this. But looks like I will be.
 
I've got it this time round, it's considered as taxable interest and I don't have any allowance for it this tax year. So there's me hoping that it doesn't get paid until the new tax year, else I will have to pay tax on it along with tax on about £300 of interest
 
slinxy said:
I've got it this time round, it's considered as taxable interest and I don't have any allowance for it this tax year. So there's me hoping that it doesn't get paid until the new tax year, else I will have to pay tax on it along with tax on about £300 of interest
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Give them a call, they may be able to postpone it or send it out as a cheque instead.
 
alexakasloth said:
Give them a call, they may be able to postpone it or send it out as a cheque instead.
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tbh I only use it's just an holding account, where I put money in for my investment platforms to DD it out as my main account doesn't support the system that some of them use. it's 13 days left and there's still no sign of it.. soooo....
 
Wasn't expecting it as we only have a Nationwide mortgage but both me and the Mrs got a letter. Tempered somewhat by the next letter informing us of a £22 a month increase in council tax. Easy come easy go etc.
 
I did go in and ask them if they can not give me the cash till after the new tax year, they said the only option I have is to refuse the £50.

So I’m just going to wait it out, if they deposit the money into my account, I’m just going to donate whatever I’m over to charity and claim the gift aid for myself. That way I get to keep my £1000 personal saving allowance and lower CGT rate.
 
slinxy said:
I did go in and ask them if they can not give me the cash till after the new tax year, they said the only option I have is to refuse the £50.

So I’m just going to wait it out, if they deposit the money into my account, I’m just going to donate whatever I’m over to charity and claim the gift aid for myself. That way I get to keep my £1000 personal saving allowance and lower CGT rate.
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What would accepting this £50 in the current tax year cost you in actual £?
 
Richie said:
What would accepting this £50 in the current tax year cost you in actual £?
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If my maths is right with the foercast of interest from non ISA accounts, it will be 40% of the interest I gain over £500, so roughly about £90 pounds.

CGT is more interesting, as I've not exceded my allowance yey and I can always choose to leaving it in there for another year, but the tax different is 10% for lower and 18% for higher.
So by making a small donation to charity it going to save me at least £90 pounds - minus the dontated amount.

It's a bit of a pain as my work bonus and payraise are in affect on the last month of the tax year, so all the adjustments are done this month rather than being able to spread it out over a larger period of time.
Work gave be a load of shares which I had to the pay the tax on, and was considered as taxable income, which I had to offset by placing the same amount into my pension to keep under the bracket.
 
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