65+ bond statement

2010

I also believe interest has been paid and tax deducted for the three year bond for the first year but because of the new rules since last April,no tax will be paid on the remaining two years.
Will need to check up on this bond later.

teddysmum

2010 wrote: »

I also believe interest has been paid and tax deducted for the three year bond for the first year but because of the new rules since last April,no tax will be paid on the remaining two years.
Will need to check up on this bond later.

That is correct, but some were lucky enough not to have to pay tax at all, as well as getting three years of fully compounded interest, because their first interest was credited during this tax year.


I just missed out on this, but the number of bonds still for sale was falling rapidly and, at that time, there was no indication that interest would be paid gross in future.