Savings interest rate thread
Discussion
Bluevanman said:
markiii said:
Because theres no9 limit on how much you can save. There is how much can be tax free
The correct answer is the government want as much of your money as they can get away with It just strikes me as a massively unfair system and why do the government feel the need to limit the amount of interest anyone can earn, it’s none of their business tbh, it’s my money not theirs!
So you work really hard to earn a decent salary, pay income tax on your earnings, what’s left you might try and save for the future and gain some interest, which the government then want another cut of? Ok then.
2HFL said:
Yes, but why?
It just strikes me as a massively unfair system and why do the government feel the need to limit the amount of interest anyone can earn, it’s none of their business tbh, it’s my money not theirs!
So you work really hard to earn a decent salary, pay income tax on your earnings, what’s left you might try and save for the future and gain some interest, which the government then want another cut of? Ok then.
Welcome to taxation. It’s everywhere. Income, pension, inheritance, capital gains, personal savings allowance etc etc etc. It just strikes me as a massively unfair system and why do the government feel the need to limit the amount of interest anyone can earn, it’s none of their business tbh, it’s my money not theirs!
So you work really hard to earn a decent salary, pay income tax on your earnings, what’s left you might try and save for the future and gain some interest, which the government then want another cut of? Ok then.
Teatowell said:
2HFL said:
Yes, but why?
It just strikes me as a massively unfair system and why do the government feel the need to limit the amount of interest anyone can earn, it’s none of their business tbh, it’s my money not theirs!
So you work really hard to earn a decent salary, pay income tax on your earnings, what’s left you might try and save for the future and gain some interest, which the government then want another cut of? Ok then.
Welcome to taxation. It’s everywhere. Income, pension, inheritance, capital gains, personal savings allowance etc etc etc. It just strikes me as a massively unfair system and why do the government feel the need to limit the amount of interest anyone can earn, it’s none of their business tbh, it’s my money not theirs!
So you work really hard to earn a decent salary, pay income tax on your earnings, what’s left you might try and save for the future and gain some interest, which the government then want another cut of? Ok then.
I feel I can have a good moan about this...I've been paying tax now for 65 years; must have been a fair sum!
R.
Ive had a letter from Santander about reducing my savings account to another tier.
Im on early access saver (3.89%) and they are moving me to a Everyday saver (1.98%).
TBH im only using it to save and accru a bit of interest to pay of a CC on September so might not move, but is this just for me OR are they getting rid of the higher interest savings product?
Im on early access saver (3.89%) and they are moving me to a Everyday saver (1.98%).
TBH im only using it to save and accru a bit of interest to pay of a CC on September so might not move, but is this just for me OR are they getting rid of the higher interest savings product?
bmwmike said:
22 said:
Was it 'easy' access saver? I'm on the second version and mine shows 5.08% online still.
Same but thats on the hitlist to be dropped sometime late April iirc.I'm with t212 for this tax year ISA, 5.2% for cash holdings.
bmwmike said:
22 said:
Was it 'easy' access saver? I'm on the second version and mine shows 5.08% online still.
Same but thats on the hitlist to be dropped sometime late April iirc.I'm with t212 for this tax year ISA, 5.2% for cash holdings.
Sunday Drive said:
bmwmike said:
22 said:
Was it 'easy' access saver? I'm on the second version and mine shows 5.08% online still.
Same but thats on the hitlist to be dropped sometime late April iirc.I'm with t212 for this tax year ISA, 5.2% for cash holdings.
bmwmike said:
g4ry13 said:
The T212 rate has a small amount of risk attached to it. Hence the slightly more generous rate than other places.
What risk is that? Can you elaborate please? https://register.fca.org.uk/s/firm?id=001b000000NM...
bmwmike said:
g4ry13 said:
The T212 rate has a small amount of risk attached to it. Hence the slightly more generous rate than other places.
What risk is that? Can you elaborate please? You can see how your 'cash holdings' have been allocated to QMMFs (not protected) and banks (protected) on your dashboard.
Out of interest (no pun intended) are you treating T212 purely as a cash ISA?
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