Pat informs us of forms of tax free savings.
Click here for video message from Pat
Narrative of video:
Hi, I’m Pat from Sleigh & Story
We are often asked what forms of tax free savings are there?
The most common forms of tax free savings are in ISAs, National Savings Certificates and Premium Bonds. Currently you can invest up to £10,680 a year in ISAs, up to half can be put in a cash ISA and the rest in a stocks-and-shares ISA.
Our tip, watch out for low interest ISA accounts. Interest earned on an ISA rewarding only 1.5% p.a. is the same as 1.9% p.a. interest on a taxed savings account for a basic-rate tax payer and 2.5% for a higher-rate tax payer.
