Soldato
Nothing for me either
Premium Bonds - If you post to say how much you've won, please also say how much you have invested.
- Thread starter Feek
- Start date
£250 between the wife and I. 50k each.
Bit below the expected return again, and we have been for a while now. It's tempting to take some out and put it somewhere guaranteed, but there's the tax implications, as well-being as able to spend the whole month thinking 'what if we win the big one'
Bit below the expected return again, and we have been for a while now. It's tempting to take some out and put it somewhere guaranteed, but there's the tax implications, as well-being as able to spend the whole month thinking 'what if we win the big one'
Associate
£175 this month with £39k invested.
I'm going to take out around 17k - 18k and whack it into a one year fixed savings account. They're up at 5.9%. I'll just invest enough to ensure I don't go over the £1k tax threshold.
I'm going to take out around 17k - 18k and whack it into a one year fixed savings account. They're up at 5.9%. I'll just invest enough to ensure I don't go over the £1k tax threshold.
What one year fix you going for ? who with ?
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I logged in about half 12 this morning, I had to double take on it as i checked the status and it didnt say I had won anything, then i looked at the balance and I was like, im sure thats increased, it was only went i went in to the transaction history that i noticed the £200 re-investment,
Soldato
£50.
Soldato
£50 better than poke in the eye with a pooey stick.
I‘ve shoved another 8k in there in June but it won’t be available to go into the draw until August , so total investment now 28k. Don’t worry this is just day to day savings my ISA is doing well but my SIPP is pants .
I‘ve shoved another 8k in there in June but it won’t be available to go into the draw until August , so total investment now 28k. Don’t worry this is just day to day savings my ISA is doing well but my SIPP is pants .
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Associate
MSE suggesting Smartsave @5.93% and Vanquish @5.9%. Get the interest at maturity. Just do the mubers so you don't earn more than 1k interest to avoid tax implications. It might now also be worth putting into an ISA too however I need some cash available which I'll leave in bonds.
Cool thanks, so if you say invest £17,000 at 5.9% for one year, you could earn just around £1k ? before you start getting taxed ?
Man of Honour
Borrowing and savings calculator
Use our interest rate calculator to see how interest rates affect borrowing and saving.
www.bankofengland.co.uk
Yep, that's assuming you're not a higher rate tax payer or else it's £500.
Soldato
Bear in mind most bonds are not allowed to be withdrawn within the fixed period.
Some do, but generally not, so read the small print carefully if you may need the money.
Some do, but generally not, so read the small print carefully if you may need the money.
Thanks, will take a look, Not sure what deems me as a higher rate tax payer,Borrowing and savings calculator
Use our interest rate calculator to see how interest rates affect borrowing and saving.
Yep, that's assuming you're not a higher rate tax payer or else it's £500.
The only savings i have is with NS&I which is tax free.
Soldato
Didn't get £300 I wanted but I am sure the £275 will be a big help towards an unexpexted bill.
Wife £50.
Wife £50.
Man of Honour
If you earn over £50,270 you fall into the higher rate.
If i limit my savings with NS&I though to £50k
IE max out my savings with NS&I at 50K and not put anymore in there, then just either move some money in to a fix term bond or just save in another account this will not put me in a higer rate tax bracket surely?
NS&I is tax free, i thought you only would fall in to a higher rate tax payer, if you breach the 50K savings limit in NS&I ?
Man of Honour
It's nothing to do with the amount of savings you have, if you earn over that threshold i.e. from job/pension/etc then you're a higher rate tax payer.
Then yes i am a higher rate tax payer
I will have to find a calculator out there that calculates the tax
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