Where to put £100k .

ColdIron

alfmurph said:

Starting rate for savings

You may also get up to £5,000 of interest and not have to pay tax on it. This is your starting rate for savings.

Just read this as suggested .

Does that mean father has £12570 plus £5000 personal allowance before he pays tax .

Yes. If his income (pensions etc, not certain about attendance allowance) is less than £12,570 then his savings interest is covered by the remainder of his Personal Allowance plus the £5,000 Starting Rate for Savings plus his £1,000 Personal Savings Allowance. So pretty unlikely to pay tax on his savings

xylophone

Between his oap , private pension and attendance allowance he has £1000 per month coming in . That is it .

Attendance Allowance is not taxable.

His taxable income is therefore his OAP plus his private pension.

Clearly  his income is well below his personal allowance and therefore he pays no tax.

Let's take a person whose  only income is state pension plus private pension and together these work out at £10,000 a year in total.

This would be £2750 below his personal allowance.

He could receive £2750 + £5000 + £1000 in savings interest before becoming liable for any tax.

MX5huggy

alfmurph said:

(NB it is normally fairy quick to get money out of PB's shoul you need it), 
What is this please .

Premium Bond (PB’s) withdrawals are completed in a few days (one page says 8). When I have withdrawn from PB’s I set it up to automatically send me the money straight after a draw has taken place,

PB’s are not a “big gamble” when holding £10000 plus. Because you are likely to win lots of small prizes over a year or more. So with £50k held for 1 year the chance of winning nothing is 43 billion (yes billion) to one. The chance of winning at least £350 is 99.3% only after that does it drop off a bit £500 is 87% and £750 is 25% anything higher is really winning. https://www.moneysavingexpert.com/savings/premium-bonds-calculator/#result

Albermarle

As above PB's are not a big gamble, as long as you have a significant sum in them. The average 'interest' rate is 1.4%, but in reality is more like 1.3% + an infinitesimal chance of winning a Million.
The more PB's you have the more likely you will get approx the average return over a couple of years. If you only have a smaller number of PB's, then you will most likely get above or below the average return.