Best Place to Keep Income Tax?

port7

I am self-employed, and thus am on self-assessment, so don't pay tax monthly but in one lump sum at the end of the year (first january after the march tax year end)

Where is the best place to stash this cash until I have to give it to the tax man? is an isa the best place? what do others do?

Mikeyorks

It hasn't been 1st Jan since SA came in during 1997 ......it's the 31st Jan (and probably the 31st July).;)

Keep it wherever the interest rates are the best for you - but gives you access for the due date(s). ISA isn't a brilliant idea - as you should be putting some of your 'own' money in there. And not cash you are going to take out every year in order to pay the SA bill .... as that means your tax free allowance is being given back to HMRC !!

Put it in one of the higher yield accounts you'll find in the best savings articles :-

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest