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Saving account for self employed tax payment
events1
Posts: 1 Newbie
I am self employed, sole trader/freelancer. Over the year I put aside 25% of my contract income received in order to pay my tax bill at the end of the financial year. I have heard one of the best places to save this money is in premium bonds. Any advise on this? The savings total 9k on average per year
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https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/events1 said:I am self employed, sole trader/freelancer. Over the year I put aside 25% of my contract income received in order to pay my tax bill at the end of the financial year. I have heard one of the best places to save this money is in premium bonds. Any advise on this? The savings total 9k on average per year
https://moneyfactscompare.co.uk/savings-accounts/
There are plenty of better easy access options than PBs in my opinion. Given this is for a tax bill which will have a known due date, you can probably also consider fixed interest or notice accounts that will mature in time for you to pay the bill when it comes due.1
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