Quickie!

darkelf

hi,

sorry tobe thick but am i right in thinking a savings account @6.5% taxable will give more return on your money than 4.6% tax free?

thanks

Oblivion

darkelf wrote: »

hi,

sorry tobe thick but am i right in thinking a savings account @6.5% taxable will give more return on your money than 4.6% tax free?

thanks

Depends whether you are paying tax at 20% or whether your earnings put you in the 40% tax bracket ...

6.5% - 20% tax = 5.2%

6.5% - 40% tax = 3.9%


Dave.