end of year deposits

bordercars

I have just received a compo payment and have thought about a cash isa before the year end. I have a small prop portfolio as well as running my own small business, and have other uses for this money later in the year. I am not adverse to premium bonds and may top up, but my main question is are there any benefits in investing in an isa just before year end when i may want to withdraw and reinvest in my business around november time.

blueberrypie

bordercars wrote: »

I have just received a compo payment and have thought about a cash isa before the year end. I have a small prop portfolio as well as running my own small business, and have other uses for this money later in the year. I am not adverse to premium bonds and may top up, but my main question is are there any benefits in investing in an isa just before year end when i may want to withdraw and reinvest in my business around november time.

The main benefit is that any interest you earn between now and November will be tax-free, if your money is in an ISA.

Unless you can find an ordinary savings account paying a better rate after tax than the best suitable ISA, or you are a non-taxpayer anyway, then an ISA is probably the best way to go.