Ulsterbank loyalty saver - where does the interest go when closing account

VXman

Got my interest today -very annoying. Far more than I was expecting and takes me to £1300  for the financial year so far. Will be getting more interest from other accounts in the next 3 months too. 

I do dislike paying unnecessary tax! I feel I will need to take more care in the forthcoming year.

eskbanker

VXman said:

Got my interest today -very annoying. Far more than I was expecting and takes me to £1300  for the financial year so far. Will be getting more interest from other accounts in the next 3 months too. 

I do dislike paying unnecessary tax! I feel I will need to take more care in the forthcoming year.

Would you have obtained a better net return elsewhere?

flaneurs_lobster

VXman said:

Got my interest today -very annoying. Far more than I was expecting and takes me to £1300  for the financial year so far. Will be getting more interest from other accounts in the next 3 months too. 

I do dislike paying unnecessary tax! I feel I will need to take more care in the forthcoming year.

I'm earning somewhere North of £5k in savings accounts taxable interest this financial year. I don't worry about paying 20% tax on it because I'm keeping 80%.

Assume you've maxed out any ISAs?