What to do?

Hi everyone I’ve got about £50k in a fixed rate savings account that’s about to mature so is it best to split it between another savings account and an Isa because of the personal savings allowance ???
Any advice would be appreciated thank you.

Comments

  • eskbanker
    eskbanker Posts: 31,023 Forumite
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    Best thing to do is to evaluate your net return, i.e. compare what you'd earn from an ISA with what you'd earn from a taxable account after allowing for deduction of tax (if exceeding your allowances and nil rate bands).
  • Albermarle
    Albermarle Posts: 22,124 Forumite
    First Anniversary First Post Name Dropper
    xx123xx said:
    Hi everyone I’ve got about £50k in a fixed rate savings account that’s about to mature so is it best to split it between another savings account and an Isa because of the personal savings allowance ???
    Any advice would be appreciated thank you.
    Whether you would pay any tax on the interest depends a lot on how much you are earning.
    Tax-free savings: check if you're eligible - Money Saving Expert

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