Chase bank.
How's your luck with Premium Bonds?
- Thread starter Mottie
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Are you serious?Who?. What’s that , in the back of some Londis shop somewhere?
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Its a bank started by Ann Hegarty & Jenny "The Vixen" RyanWho?
Premium Bond prizes are tax free, as are dividends or interest in an ISA
interest on savings may be taxable, there is an array of conditional rules depending on your circumstances.
For most people,
"Personal Savings Allowance
You may also get up to £1,000 of interest and not have to pay tax on it, depending on which Income Tax band you’re in. This is your Personal Savings Allowance.
To work out your tax band, add all the interest you’ve received to your other income.
Income Tax band Personal Savings Allowance
Basic rate £1,000
Higher rate £500
Additional rate £0"
I find the convenience of not having to complete a tax return or claim forms is worth a bit to me (for some people it is additional fees by their accountant)
more information on
https://www.gov.uk/apply-tax-free-interest-on-savings
interest on savings may be taxable, there is an array of conditional rules depending on your circumstances.
For most people,
"Personal Savings Allowance
You may also get up to £1,000 of interest and not have to pay tax on it, depending on which Income Tax band you’re in. This is your Personal Savings Allowance.
To work out your tax band, add all the interest you’ve received to your other income.
Income Tax band Personal Savings Allowance
Basic rate £1,000
Higher rate £500
Additional rate £0"
I find the convenience of not having to complete a tax return or claim forms is worth a bit to me (for some people it is additional fees by their accountant)
more information on
https://www.gov.uk/apply-tax-free-interest-on-savings
£75 for me this morning.....or rather for Ukraine.
John
John
Only the first £2k of dividends are tax free.
No need to shout!
My bad. I read it as 'Premium Bond prizes are tax free, as are dividends, or interest in an ISA"
Nothing again. Nowt since Feb. May consider cashing them in as the return is now dire. Until last year, used to have several prizes each month, certainly at least one. Now three months with nothing. But what else to put the money into? Fixed rate bonds?
"random" is like that.
But that's not the whole picture. It would only be down to bad luck if the prize payouts hadn't been reduced. As they have been reduced by £30 million, the odds have reduced chances of winning.
https://www.which.co.uk/news/articl...remium-bond-prizes-from-december-auTFK6v7MEZT
oh, so the changes will reduce the premium bonds prize fund rate from 1.4% to 1%.
so a 50k holding would, on average, expect around 500 per year
a bit under 50 per average month
but randomly distributed
what percentage can you earn elsewhere?
so a 50k holding would, on average, expect around 500 per year
a bit under 50 per average month
but randomly distributed
what percentage can you earn elsewhere?