How much can you save?

Crap_with_money.com

Hey all - I have a potentially stupid question! You pay tax on savings right? (with the exception of ISA's) - are you taxed on all the savings or just the interest you earn?

xx

rb10

Crap_with_money.com wrote: »

Hey all - I have a potentially stupid question! You pay tax on savings right? (with the exception of ISA's) - are you taxed on all the savings or just the interest you earn?

xx

If you are a taxpayer, then you will have 20% tax deducted from any interest paid to you (excluding ISAs). This will be taken by the bank.

If you don't pay tax, tell your bank. They will then pay the 'gross' (i.e. without tax) rate of interest to you.

Lokolo

mintedmatty wrote: »

I pay all the 50p,£1 and £2 coins i get from my pizza deliveries into a coin tin. I banked 2 lots of £100 roughly before xmas! Ive got one of the tins that holds upto £500 and its about 1/5 full i reckon in just over a month. hoping to hold on til its pretty much full but i always like to bank it so it can start earning some interest, if only a little! yeah payday tomorrow! more premium bonds!!!!!

Who do you work for? Dominos?

alohahawaii

I need some help, I've taken money out of my ISA as I thought I'd need to buy a car (as mine temporarily died the other week) so now it's in an e-savings account. Not sure if my car will carry on or if i will need a new one yet.

I took the money from an ING isa, which is at 2% now!!! Which I applied for in 2007 and just carried on putting money in it this year.

So if i need a new one, can i apply for another ISA somewhere else?

I'm pretty new to saving and i'm guessing im being taxed for it not being in an ISA

I can probably put 1k back as my remaining isa amount until april

Help!

Lokolo

How much have you put in the ISA since April 6th 2008?

black_taxi_2

jerry--you can put £3600 in a cash ISA

unless you hav shares your not telling us about



i hav a flat--want to move up market

assetts 100k
liabilities 33k

im paying off liabilities and saving--then selling

mintedmatty

Pizza Hut takeaway Lokolo. stupidly busy!

McSaver

Lokolo wrote: »

Did you bet Arsenal to win tonight??? :rotfl:

No it was on roulette - but I think myself lucky I didnt have the debit card on me because I may well of lost £350. I just never seem to get any wins anymore whatever I do.

Payday tomorrow though so that will wipe out my minor loss.

briona

briona wrote: »

Last week, I decided to open an ISA with HSBC through my internet banking (not the greatest interest rate but it's convenient as it's linked with my current account). I received a letter yesterday declining my application because apparently I'm "not resident in the UK"!!! Er... !!!!!!?!

I rang them up to complain and it turns out that despite the fact I have banked with HSBC since 2002, and despite the fact I have moved to three UK addresses between then and now, and that I am – and always have been – on the electoral roll, and get a salary paid in, they have me down as being resident in Ireland! And then they tried to blame ME for it by saying I'd sent them a letter requesting they change my country of residence! :mad:

Needless to say I got a touch stroppy with them and although they apologised profusely and changed my country of residence to the UK so that my "application for an ISA would now go through", I told them I'd rather take my business elsewhere! HUMPH!

Today I went to the ATM at lunchtime to find that there was considerably less money in my account than there had been yesterday. Concerned, I printed off a mini statement to find that bloody HSBC who had declined my ISA application just days earlier (and sent me a letter explaining that!) had apparently had a change of heart and helpfully opened me one and debited money that I was counting on living on till payday!!! :mad: But on the plus side, my savings have just increased!

Fortunately payday is Thursday, I have other accounts I can use in the meantime and most happily of all I have no direct debits to come out of the account this week – otherwise I may have found myself with an unauthorised overdraft! And HSBC would have found themselves minus a customer (not that the incompetent tw*ts would give a toss!).

dippykitty

briona wrote: »

I printed off a mini statement to find that bloody HSBC who had declined my ISA application just days earlier (and sent me a letter explaining that!) had apparently had a change of heart and helpfully opened me one and debited money that I was counting on living on till payday!!! :mad:

What a farce! :eek: