Premium bonds - weird coincidence

[ColinJ]

Yeah it is a bit of a lottery, there are some better savings bonds around at the mo - 3%+ for a one year tie in for example

I hope that 'bit' = 100%, otherwise there is some serious criminality involved!

 

[presta]

I can buy this Ferrari with this month's win, and still have some left over.

 

[potsy]

£100 this month, my biggest return yet
2 x £25 and 1 x £50...

 

[vickster]

Thanks for the reminder to check

 

[vickster]

Well I was rather confused when I first checked (spot the presumably not deliberate mistake!)!
Then I rechecked!
Woo that’ll cover a fair bit of the cost of the bike conversions

 

[PeteXXX]

£100 here. First win in a couple of months.

 

[Chislenko]

£275 between me and Mrs C for October.

They have increased the prize fund from October so more chances to win😊😊

 

[ianrauk]

Looks like a lot of winners this month

 

[potsy]

£275 between me and Mrs C for October.

They have increased the prize fund from October so more chances to win😊😊

Yep, up to 2.2% now...
Fingers crossed for some big wins for the CCers over the next few months

 

[Chromatic]

Well I was rather confused when I first checked (spot the presumably not deliberate mistake!)!
Then I rechecked!
Woo that’ll cover a fair bit of the cost of the bike conversions

You are Spawnsworth Get's sister AICMFP.

Pisspoor £25 quid for me.

 

[vickster]

You are Spawnsworth Get's sister AICMFP.

Pisspoor £25 quid for me.

Huh?

 

[bikingdad90]

Nadda, nothing for me again. Might withdraw them and move it into a savings account paying interest.

 

[Chislenko]

Nadda, nothing for me again. Might withdraw them and move it into a savings account paying interest.

Yes, a bit of a balancing act now that interest rates for savers are on the up.

A couple of advantages with Premium Bonds, obviously the chance to win big, however remote, but secondly as they are prizes, not interest, they are Tax Free.

A lot of us who have paid no tax on our savings over recent years because of the dire savings rates will suddenly be paying tax again as the rates rise. I think it is just the first £1000 that is tax free.

 

[SpokeyDokey]

Yes, a bit of a balancing act now that interest rates for savers are on the up.

A couple of advantages with Premium Bonds, obviously the chance to win big, however remote, but secondly as they are prizes, not interest, they are Tax Free.

A lot of us who have paid no tax on our savings over recent years because of the dire savings rates will suddenly be paying tax again as the rates rise. I think it is just the first £1000 that is tax free.

Things that can help avoid paying tax on unearned income;

ISA's

Personal allowance £12570 - can be used to offset interest earned.

Personal savings allowance £1000 as already mentioned - £1000 interest is tax free.

Starting rate for savings - up to £5000 of interest untaxed.

Switch up to 10% of marital partner's PTA to the other partners PTA.

Clearly a non-income receiving partner can come in mighty handy to reduce the household tax bill. 🙂

https://www.gov.uk/apply-tax-free-interest-on-savings

 

[Chislenko]

Things that can help avoid paying tax on unearned income;

ISA's

Personal allowance £12570 - can be used to offset interest earned.

Personal savings allowance £1000 as already mentioned - £1000 interest is tax free.

Starting rate for savings - up to £5000 of interest untaxed.

Switch up to 10% of marital partner's PTA to the other partners PTA.

Clearly a non-income receiving partner can come in mighty handy to reduce the household tax bill. 🙂

https://www.gov.uk/apply-tax-free-interest-on-savings

Quite annoyingly the Personal Allowance seems to have been frozen for the last couple of years. It always used to go up slightly each tax year but not of late. Another "stealth tax"