Tax on large sum of money

Ashi2

I have recently made a one off short term investment in trading that is likely to pay off a large amount of money. If i have this money in my regular bank account (little or no interest earnt) will I have to pay tax on this money? (Its £100,000 +)
Or where is best to put the money until i decide what to do with it? Eg ISA's....

masonic

No wealth is not taxed like that. You pay tax on capital gains or income, so when your "short term investment in trading" pays off, you may have a capital gains tax liability, or it could be income tax if the payout is in interest/dividends. If it is recognised as gambling / spreadbetting, there might be no tax to pay. What you do with the money or where you keep it afterwards is irrelevant. You aren't going to fit £100k+ into an ISA, so it probably makes sense to split into <£85k chunks and put into the best easy access savings accounts until you decide what to do with it. You could put some in a cash ISA, but there is little point doing so if you plan to use it for something else in the short term.