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Savings advice
Smokie_Dave
Posts: 2 Newbie
I am in a postition to be able to save £4,000 per month and not require access to this money until May 2021.
What advice can anyone give to maximise the return in 2021 at minimum or zero risk to the accummulated funds.
What advice can anyone give to maximise the return in 2021 at minimum or zero risk to the accummulated funds.
0
Comments
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I am an IFA, but nothing I say on this forum constitutes financial advice. Always draw your own conclusions and always do your own research.0
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One option - For the first 5 years or so put it into a balanced shares & bonds fund, or set of funds, and then when you get closer to 2021 switch to deposit accounts.
What is you tax position? If your investments do very well they may need a bit of management to avoid CGT, but your gains should be largely tax free. Its rather more difficult to avoid tax with large amounts of money going into bank deposit accounts.0 -
Tax would be payable at CT rate of 20% (Small Business Profits Rate) I think this would qualify.0
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