I am actually not sure, I do self assessment as declare capital gains and interest gains due to been over 10k, if it is just interest from savings my guess is with no capital gains you should still be declaring it but I am not 100% sure.....
Best savings account?
- Thread starter Merlin5
- Start date
I am actually not sure, I do self assessment as declare capital gains and interest gains due to been over 10k, if it is just interest from savings my guess is with no capital gains you should still be declaring it but I am not 100% sure.....
Soldato
Thanks, I could just wait for the tax man to come knocking.
I will ask my bro at weekend as he is an accountant, so should know.Yeah I can't imagine that they are interested in anyone earning under the limit.
The grey area is capital gains/ interest from personal bank accounts/non-ISA savings when you are near the £100k limit. You are meant to get £500 for "free" if you are a higher rate payer; however if you add that into your income and you then go over £100k (to e.g. £100,500) then your personal allowance gets reduced by £250 and you end up paying £100 tax. Seems odd because then you aren't getting £500 free, you are only getting £400........
The grey area is capital gains/ interest from personal bank accounts/non-ISA savings when you are near the £100k limit. You are meant to get £500 for "free" if you are a higher rate payer; however if you add that into your income and you then go over £100k (to e.g. £100,500) then your personal allowance gets reduced by £250 and you end up paying £100 tax. Seems odd because then you aren't getting £500 free, you are only getting £400........
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If you earn over 100k the tax man will request a self assessment from you anyway, its pretty much automated for those not self employed but on over 100k or passing the 100k mark. If you earn less than this but go over due to additional income from capital gains / interest then you should be filing a self assessment anyway.
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Soldato
Confusing, lol. I only recently changed stuff, so I don't need to worry for now I don't think, I might just keep an eye on my tax code, think you get a letter in post if it changes as well.
Yeah agreed. But if you declare the interest on bank accounts under the £500/£1000 limit then it isn't tax free (in that scenario).
Commissario
Nutmeg don't go out of their way to invest. My money is still just sitting there, uninvested.
Man of Honour
Investment cycles are twice a week
Soldato
Probably for the best just now...
Probably perfect if it goes in on Monday.
Last 2 days red flash is a bit of an overreaction to svb
Overreaction or a sign of bigger underlying problems is US banking?
Soldato
I think Sasha Yanshin explains it quite well. Warning for swearies in the video.
https://www.youtube.com/watch?v=tqSLdiAxqE0"
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Banks will never have the general publics best interest at heart. Definitely plenty of problems with a lot of the big banks.
Soldato
Those on the Nutmeg bandwagon, have you seen your deposit go through?
Joined last thursday, did a transfer and it's still showing as pending - i'm probably being impatient but i would have thought the cash would have landed by now / they would have invested it
Joined last thursday, did a transfer and it's still showing as pending - i'm probably being impatient but i would have thought the cash would have landed by now / they would have invested it
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Really speakingThose on the Nutmeg bandwagon, have you seen your deposit go through?
Joined last thursday, did a transfer and it's still showing as pending - i'm probably being impatient but i would have thought the cash would have landed by now / they would have invested it
The money you sent
For the most part, I...
Think it's gone.
I deposited on Friday and it's already in and investedThose on the Nutmeg bandwagon, have you seen your deposit go through?
Joined last thursday, did a transfer and it's still showing as pending - i'm probably being impatient but i would have thought the cash would have landed by now / they would have invested it
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Caporegime
the money is there, currently £-6
But when i click General Investment, it says "Nothing to show yet."
Down lower it does say the £994.50
But when i click General Investment, it says "Nothing to show yet."
Down lower it does say the £994.50
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Soldato
Maybe i'm reading it wrong - it shows £1k to invest but then 'Pending transaction' and 'Nothing to show' ¯\_(ツ)_/¯
Who knows, i'll give it a few more days before box stance and letter boxes
Who knows, i'll give it a few more days before box stance and letter boxes