Property News · March 21, 2015

There’s a savings revolution coming – be prepared


The budget saw the chancellor do away with tax on deposits, putting the humble cash Isa’s existence in danger and opening a number of avenues for canny saversThis week George Osborne handed savers the biggest tax break in decades. Some people will be able to put as much as £72,000 into an account and not pay a penny in tax on the interest. So how should you arrange your savings to take advantage of the new deal?Out goes the tax on the interest paid, which is currently deducted by banks and building societies at source, and in – for the majority of savers at least – comes the very welcome prospect of not having to pay any tax on savings interest, irrespective of whether you hold the money in a tax-free Isa or not. Continue reading…

Source : theguardian.com
Read more…There’s a savings revolution coming – be prepared

You may also like...