Good access saver for £20k?

nonnatus

Hello,

I have a NATWEST business account which ticks along around £40k in credit.
I'd like to make a bit of interest from this money! I've got a £21k tax bill due end January 2013, so I was wondering if I could just move the £21k out of the business account into somewhere with a healthy interest rate. But I would need access to that money for January.

Does anything like that exist? Can I put 21k in an ISA?

JoVal

If you're looking to open a new ISA the maximum into a cash ISA is £5,640. You can earn up to 3.30% on a cash ISA at the moment.

What interest are you currently earning on your business account and do you need to keep it in a business account. ISAs are personal accounts but you can have access if you choose the right type.

nonnatus

Thanks JoVal,

Not making any interest at the moment, just paying charges for the privelige of having a business account :cool:.

So even 1% on 21k would be a bonus! Guess I should just go searching, but I thought someone might have a recommendation for a decent interest / easy access account...

rich11

Halifax instant access pays 2.8% before tax.

psychic_teabag

If the money belongs to a business, are you allowed to just arbitrarily transfer it over to a personal savings account ?

psychic_teabag

http://moneyfacts.co.uk/compare/business/business-savings-accounts/ might be one place to start

opinions4u

so I was wondering if I could just move the £21k out of the business account into somewhere with a healthy interest rate

Check with your accountant before removing money from the business. It could prove expensive.