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Tax-free savngs

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GKW | 10:41 Sat 16th Jan 2010 | Personal Finance
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Why are tax-free savings not right for someone who is not a taxpayer?
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Avatar Image dasherman
Because non-taxpayers don't have to pay tax on the interest recieved from savings anyway.
10:52 Sat 16th Jan 2010
Avatar Image factor-fiction
Yes, the statement is generally true for the reason given by dasherman.
However, it would be wrong to that tax-free savings are always 'not right' for a non-taxpayer. Because of the competitive nature of ISAs better rates can often be obtained from best-buy ISAs than from other gross-paying accounts.
10:58 Sat 16th Jan 2010

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