Best place to park 100k?

[anonymous-user]

The initial message was deleted from this topic on 22 January 2025 at 11:16

[Mr Squarekins]

20k ISA each if you haven't used this year's allowance yet, then 60k wife to put in 5.5+ rate bond for a year or two?

Tax minimised.

[steve_n]

She won't have any income tax to pay with only £8k of other income...

https://www.gov.uk/apply-tax-free-interest-on-savi...

[steve_n]

£6,000 of interest including the £1,000 savings allowance and £5,000 starting rate for savings, plus the rest of her personal allowance.

[Mark83]

Lowest of risk and tax efficient route for me would be:

£20k each into an ISA.

30k each into Premium Bonds at 4.65% although could be more, could be less.

No tax on income earned.

[tescorank]

Park it in my account and I’ll pay you 5%

[Rocketsocks]

If your wife and yourself are both higher rate tax payers, you could park £20k of it in an account such as Oxbury. Depending on when you actually receive the money, you could put quite a bit more in and take advantage of this tax year: you get a £500 allowance each on savings interest. Oxbury currently pay 5.51% AER on a 90-day notice account, and 4.93% on instant access accounts.