Quizzes & Puzzles1 min ago
Interest On Savings
5 Answers
What is the best investment on say 20k sterling over 12months.
1.75% tax free
or
3% less tax at 10%
Regards,
Tezzer.
1.75% tax free
or
3% less tax at 10%
Regards,
Tezzer.
Answers
Best Answer
No best answer has yet been selected by tezzer. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.I don't know whether this is a hypothetical question or something you are trying to determine for real, but you should also bear in mind that income tax in the UK is 20%. There is a 10% starting rate for savings on the first £2,710 of savings income. However it only applies if your total income (savings income and non-savings income) is less than the current personal allowance (£9,440).