Tax on saving stream interest?
Discussion
Hello All,
I've just opened a Saving Stream account that I'm looking at putting some money into (currently just put £100 in to test).
If it makes any difference, I'm looking at re-investing the interest back into Saving Stream.
I wonder where I stand with tax. Unfortunately (or fortunately) I'm bang on the 40% threshold on a PAYE 9-5 job.
I'm assuming the government want something, and I'd be a fan of minimising the amount of something they get. Legally of course!
Other things that might be relevant: I have £250 a month going into an HSBC preferential rate saver that should pay 5% in a few months.
The total I'd be wanting to put into SS would be about £4-5k per year. Probably instead of the HSBC thing.
I've just opened a Saving Stream account that I'm looking at putting some money into (currently just put £100 in to test).
If it makes any difference, I'm looking at re-investing the interest back into Saving Stream.
I wonder where I stand with tax. Unfortunately (or fortunately) I'm bang on the 40% threshold on a PAYE 9-5 job.
I'm assuming the government want something, and I'd be a fan of minimising the amount of something they get. Legally of course!
Other things that might be relevant: I have £250 a month going into an HSBC preferential rate saver that should pay 5% in a few months.
The total I'd be wanting to put into SS would be about £4-5k per year. Probably instead of the HSBC thing.
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