This Time I'm Really Going To Do It

daisy_1571

Fabulous news on the please winnings.  You can tick a box on your account and they will send you winnings as new bonds automatically.  Apart from the ease (and removing temptation to use the winnings), another bonus is that the new bonds don't have to lie for a month, they go straight into the next draw.  If you want to cash them in at anytime you can do so online but they will cash in your oldest bonds first.   I prefer to leave my oldest bonds as generally they are in a bigger lump sum.  So I print off the form and do it by post, that way you can specify which bonds you want to cash in.  That way I 'tidy up' all the wee £25 winnings from time to time.  

Daisy xx

Slinky

Watty AIUI you need to pay your stamp duty within 14 days of completion otherwise you start incuring interest on it.

https://www.gov.uk/guidance/stamp-duty-reserve-tax-penalties-and-appeals

badmemory

daisy_1571 said:

Fabulous news on the please winnings.  You can tick a box on your account and they will send you winnings as new bonds automatically.  Apart from the ease (and removing temptation to use the winnings), another bonus is that the new bonds don't have to lie for a month, they go straight into the next draw.  If you want to cash them in at anytime you can do so online but they will cash in your oldest bonds first.   I prefer to leave my oldest bonds as generally they are in a bigger lump sum.  So I print off the form and do it by post, that way you can specify which bonds you want to cash in.  That way I 'tidy up' all the wee £25 winnings from time to time.  

Daisy xx

I didn't realise you could do that.  I have gots lots of £25 winnings & they never win so that is a great idea.  Thanks

Suffolk_lass

badmemory said:

daisy_1571 said:

Fabulous news on the please winnings.  You can tick a box on your account and they will send you winnings as new bonds automatically.  Apart from the ease (and removing temptation to use the winnings), another bonus is that the new bonds don't have to lie for a month, they go straight into the next draw.  If you want to cash them in at anytime you can do so online but they will cash in your oldest bonds first.   I prefer to leave my oldest bonds as generally they are in a bigger lump sum.  So I print off the form and do it by post, that way you can specify which bonds you want to cash in.  That way I 'tidy up' all the wee £25 winnings from time to time.  

Daisy xx

I didn't realise you could do that.  I have gots lots of £25 winnings & they never win so that is a great idea.  Thanks

Here is the link  to cash in specific bonds

badmemory

Thanks very much for that.  I didn't want to sell the ones I have from the 50s as they were family presents, not that expect them to ever win.  Would you believe that I own 1.50 & my sister owns .50, but she has or had her own 1.00.  Probably from 1958/9.  Who knew premium bonds could have a sentimental value.

daisy_1571

Me!  I have a £1 bought for me by my grandma and granda in '66.  Its a lovely little physical bond and like you I'm keeping it lol

Daisy xx

Suffolk_lass

Me too. My Jewish Godparents went to my Christening and swore to bring me up in the Christian Faith if anything happened to my parents and the first £1 bond I have was my Christening gift in 1958. They loved me like a daughter and although long deceased, that bond remains, together with the fond emotions of the memories

Watty1

Somewhere i too have a childhood premium bond.   I wonder how many bonds are out there, sentimentally held on to

I didn't realise my winnings could be converted to bonds so yes, will sort that out because it does remove the temptation to spend the money.  Will also look to see if I can set up an standing order to just buy £75 a month in place of the insurance.  Maybe £100 will see if I can stretch to that.  If I can set up an auto pay system that also removes the temptation in the lean months.

Watty1

Right research done online thanks to you all.  My half of the house comes in at £250,000 which would be below the stamp duty limit so i am ok on that.
Exasperated with solicitors but  ok with that. 

LadyWithAPlan

I have the auto keep prizes on - so keeps my winnings out of my hand and as prizes are eligible for the draw immediately it is an extra motivation .. 
I really don’t like withdrawing any money from my PB.. I save my tax return money as I go through the year in there and then end up scrabbling to see if I can leave my saved amount in the pbs and pay for my tax from current income .  

Most I have won is £100 which I have done twice this year - really want to get up to that £50k as more money = more chances to have a date with Agent Millionaire…