Best Savings Account to use for SE tax bill?

putacoininthefountain

Hi,

I'm quite new to using the forums so apologies if this is in the wrong place. I'm self-employed and up until now I have never put aside money to pay my tax bill :embarasse which hasn't been huge but has been growing! I have no savings, no pension and to get started I'd like to sort out having enough money to pay my tax bill as my work being self-employed is increasing.

I've never had an ISA so I'm not sure if I should open an ISA or a regular savings account? I will not have very much in the account to start with - possibly £250. Do you have any recommendations?

Many thanks,

Louisa

DiggerUK

Putacoininthefountain,
Seems a no brainer, do a calculation of tax liability, then open a Regular Saver, which tend to get best interest.
Or put away in an ISA.
Net % rates are the bottom line.

putacoininthefountain

DiggerUK wrote: »

Putacoininthefountain,
Seems a no brainer, do a calculation of tax liability, then open a Regular Saver, which tend to get best interest.
Or put away in an ISA.
Net % rates are the bottom line.

...

Thanks for your reply. I'm employed PAYE on a part time basis and use up my full personal tax allowance so with this work so are you saying I could choose either option - there's not much difference for me?