Post-Tax Free saving allowance

Kurenka

Hi all,

Apologies if this has been asked before. I'm currently saving with a Help To Buy ISA, sadly though I am limited to how much I can save (max deposit allowed is £200 per month). As an added problem, unless I am mistaken, I am not allowed to pay into a Cash ISA if I am paying into this.
So my question is, what's the next best thing I can do?
I bought some Premium Bonds before reading the recent guide unfortunately. But as I can't use my full Tax Free Savings allowance because of the above limitations, is Premium Bonds a good way to save/invest, or are there better options out there for regular savings?

bigadaj

It's good to save tax, but all you should really be interested in is the net amount you receive.

So current accounts with associated regular savers may well suit you, 5% taxed is better than 1.5% tax free.

This is detailed on the 5% savings article and thread.

colsten

bigadaj wrote: »

It's good to save tax

It's even better to pay tax when you can get higher interest rates by doing so. And you can, in plenty of accounts:
https://forums.moneysavingexpert.com/discussion/5374614

Eco_Miser

And it's even better if your higher rate interest is taxed at 0% because it is within your Savings Allowance (£1000 for BR payers, £500 for HR payers).

I suppose it's better still if you pay tax because your interest exceeds your Savings Allowance.

bigadaj

colsten wrote: »

It's even better to pay tax when you can get higher interest rates by doing so. And you can, in plenty of accounts:
https://forums.moneysavingexpert.com/discussion/5374614

So why partial quote?

You're not a daily mail journalist are you?