£110,000.00 to invest

davidib

Good morning

I dont pay tax on my savings and I have around £110,000 to invest for 3-6 months what can anybody suggest?

Debt_Free_Chick

Invest or save?

Savings accounts are essentially deposit accounts with banks & building societies that pay interest.

Investments would include a wide range of other vehicles, including, but not limited to, stock-market based unit trusts.

surfcat

Don't pay tax on your savings eh? 5% of 110000=5500, which is above the no tax threshold. I know you're only doing it for a few months put I presume you may have some other savings income/ small earnings additionally.

Walletwatch

David

Apart from the time horizon you are looking at, the optimum avenue would also depend on risk appetite and other factors. However, for 3-6 months, savings accounts are the best bet. Try ING, instant access through the internet and a good rate as well.

davidib

The best I can find is First Direct at 5.20%.

We are selling a house then buying another in about 6 months so it should stay under the tax limits. My wife looks after the kids at home so she pays no tax so we will save in her name.

David

barriejohn69

it might be worth while asking your bank about investing in the govenments monymarket scheme, not sure of the rates but a lot of my clients are jumoing at the chance, normally between 70k and 100k. it is normally on a month by month basis so it does not have a tie in period.

deemy2004

To be ultra safe don't commit more than about £35k to any one financial institution

There are many paying between 5.1% and 5.2%