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Tax-free savings allowance
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Posts: 5 Forumite
in Cutting tax
Can anyone tell me if it's still the case that the government allow investments up to £25 a month tax-free with a friendly society (as well as having an ISA)? If so which one is best please?
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Comments
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I believe you can still get them but when I looked into it they were all pretty shocking as investments - the selling point is that you don't pay tax on the gains, but from what I say the management charges are high and the gains very small. IMHO you'd be better off investing your money elsewhere, even if you do have to pay tax on the gain.0
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Thanks for that. I'm afraid that I find all things 'tax' very hard to follow!0
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