While you may need to pay tax on interest if you go over your PSA, you don’t pay any tax on interest with Individual Savings Accounts (ISAs). They’re tax-efficient savings or investment accounts available to UK residents.
Maximising your income by minimising your tax liability is being financially tax efficient. And, if you use all of your allowances, you’ll be doing so legitimately. One such allowance is your personal savings allowance, which can be an effective way to shield your income from paying more tax than necessary. What exactly is the personal …
By the end of the quiz, you’ll know what type of credit card spender personality you have so you can apply for a credit card that is most appropriate for you.
The concept of negative interest rates may sound bizarre. Still, the Bank of England continues to hold the base rate at 0.1% and previously warned banks to prepare for negative interest rates in 2020. The Bank of England Base Rate – also called just the Bank Rate or Base Rate – has been held at …
What would negative interest rates mean for savers? Read More »
Savings accounts differ from standard bank accounts, so it’s a good idea to add one to your arsenal to take advantage of their comparatively higher interest rates. While current accounts are designed for day-to-day use and equipped with features like debit card access, savings accounts are designed for long-term saving. Most savings accounts aren’t as …
Which banks have the best savings interest rates in 2021? Read More »
