Pensioner bonds

bjbyorkshire

My 3 year, £10,000 Guaranteed Growth (Pensioner Bond) was opened on 13 April 2015. It is showing online as having no interest added for the 2015/16 tax year. Is this because I opened it just after the end of the tax year and the interest will go onto the 2016/17 tax year?

It's a lot of a hassle getting the year end tax certificates for so many accounts now that I have multiple accounts set up to try to gain a bit more interest.

I know people are saying add up your interest throughout the year but some of the statements are not concurrent with the year end periods. Some banks are sending the statements automatically by post and with others you have to request them and yet others are on the internet banking site but take a lot of finding.

Arghhhhh! Is it worth it? All the hassle for a bit more interest!

xylophone

http://www.nsandi.com/files/published_files/asset/pdf/65-guaranteed-growth-bonds-key-features-leaflet.pdf

"The interest is earned daily and added to your Bond on
each anniversary."

alanq

bjbyorkshire wrote: »

It's a lot of a hassle getting the year end tax certificates for so many accounts

Interest for tax year ending 2017 and later will be paid gross so there will be no more tax deduction certificates to obtain.

bjbyorkshire

Thanks for the replies.

I think it will still be necessary to add up all of my interest, income from pensions etc to make sure that I am under the £17,000 limit of savings plus earned income plus tax free limits etc. It will still be necessary to add up all of the income streams even for 2016/17 year so I am looking for an easy way to collate this info.... Please don't suggest spreadsheets as I am not great at inputting numbers into a calculator not to mention a spreadsheet. It will need to be a manual method I think.

Eco_Miser

Spreadsheets are easier than calculators - you can go back and correct your mistakes.

That said, if you don't want to use an electronic methods of record keeping, it will have to be pen(cil) and paper.
There used to be special grid ruled sheets of paper for financial records and calculations - called spreadsheets! I don't know if they are still available though.

Back before personal computers, I used a notebook to record all my incomes and outgoings, a different column for each category, total the columns at year-end.

Vortigern

Eco_Miser wrote: »

There used to be special grid ruled sheets of paper for financial records and calculations - called spreadsheets! I don't know if they are still available though.

Last time I saw one it had columns for pounds, shillings and pence.

bjbyorkshire

He hee! I know that makes me seem like a Dinosaur, I'm actually not. I do use technology but maths were never my thing.

Keeping track that the monthly standing order transfers from current account to current account are done, then manually transferring money back to base account, making sure that there is sufficient left in each account to cover the monthly direct debits plus now collating together interest from something like 11 current accounts plus some 3 year bonds is beginning to feel like a part time job, which is not what I want to be doing.

I do pay an accountant to submit the year end self assessment forms but he can only do that once I have the correct figures to give him. Now that we have the new flipping marriage allowances/personal allowances/o% savings allowances I'm beginning to think someone is trying to confuse the hell out of us mere mortals.

I'm sure I can't be the only one to be concerned about how best to start with next year's accounts now.

I do the banking for oh and myself and I keep saying to him that if I get run over by a bus or loose my marbles then he will have one hell of a job to find out where all his money is invested! He would love it if our money could all be in 1 account with one bank with a nice passbook where you could see exactly what you were worth. Alas that's not going to be possible ever again.

iris

bjbyorkshire wrote: »

I do the banking for oh and myself and I keep saying to him that if I get run over by a bus or loose my marbles then he will have one hell of a job to find out where all his money is invested! He would love it if our money could all be in 1 account with one bank with a nice passbook where you could see exactly what you were worth. Alas that's not going to be possible ever again.

I feel exactly the same bjb:rotfl: