Premium Bonds

MILLWALLFC

Does anyone know if there are any plans to lift the £30,000 holding per person, it seems like it has been stuck on this for a while, why is there a limit to how much you can put in as the government makes money on premium bonds ?

Also especially with the credit crunch on you think the government would like to earn more money.

Steve_xx

There are no plans to change the 30k ceiling limit.

The government gets cash on other things, like taxation! It also borrows money by issuing Index-linked Certificates and other National Savings products.

Jonbvn

It wasn't that long ago that the limit increased from 15k to 30k. Therefore, I wouldn't hold your breath waiting for another increase.

BTW, there are far better products around than PB's!

MILLWALLFC

looking for tax free savings though, having to pay higher rate of tax on savings. I tought it was about 2003 or 2005 thats quite a while ago.

Steve_xx

MILLWALLFC wrote: »

looking for tax free savings though, having to pay higher rate of tax on savings. I tought it was about 2003 or 2005 thats quite a while ago.

You might consider an ISA or maybe Index-Linked Certifictaes. These are tax free.

MILLWALLFC

Already used up the ISA allowance.

Just thought it be an easy way for the government to make a lot more money. It save taxing people more money now the recession is about to start.