Very Short Term Savings

ColdIron

6022tivo wrote: »

It will probably trigger a Self Assessment form from the HMRC. Don't think I want to bother or risk that headache?

I doubt it will trigger anything but you should still declare it, a quick call to HMRC ([FONT=&quot]0300 200 3310) [/FONT]and they'll almost certainly collect it via a change in your tax coding

6022tivo

I find it interesting when people talk about the £85k protection. If we got to the point when the NS&I collapsed, we would have a lot more issues to worry about than money.
The Government writing cheques for our NS&I balances would be worth peanuts as the £ would have been doomed at this point.

ColdIron

NS&I and the FSCS £85k protection are unrelated

If NS&I (an executive arm of the Treasury) collapsed we would indeed be in Armageddon times but the FSCS protection, which has nothing to do with the Treasury, is intended to kick in long before that when a financial organisation is unable to meet its obligations. It has been used several time in the past e.g. Bradford & Bingley