Premium Bond Winner ?

Oldbiggles

Once again all I ever see is £25 prizes.

This month I had one win of £25.
Does anyone ever get a decent prize these days? When they paid only one prize of £1 Million, I seemed to win more often and of course the lowest prize then was £50. With half the holding I have now I managed an average of around 2% each year, now I’m lucky to average 1%. I think it would be far better to have only one £1 Million prize and share the other £million amongst the other prizes. It would probably encourage more people to invest and therefore increase everyone’s chance of winning something.

Biggles

I imagine the Budget announcement of no tax on interest will finally rob Premium Bonds of their only real advantage, tax-free winnings?

Foxy-Stoat_3

Just got a text from my Dad to say he found a £5 PB that he bought when I was born, some 35+ years ago. Going to check to see if any prizes have been registered to them later. Fingers crossed but don't hold out a lot of hope for a bigg'un.

I have £100 in PBs of my own since 2011 and only ever won a small win, and recently bought £800.

taylornj

Biggles wrote: »

I imagine the Budget announcement of no tax on interest will finally rob Premium Bonds of their only real advantage, tax-free winnings?

Lets state that again
No tax on the first £1000, £500 or £0 of savings interest depending on your tax rate - it is not just "No tax on Interest".

My savings interest for 2014/15 is well over the £1000 for the year, I would have still have paid tax on savings interest under the new rules, the amount in premium bonds if put into savings I would pay tax on the interest received.

This is something to review closer to 6th April 2016, or if rates change, until then the advantages remain. For many even post 6th april 2016 savings interest will still be taxed in part and anything with tax free status still has an advantage.

The increase to the £50k limit for premium bonds is from the 1st June 2015, was also in the budget.

Biggles

taylornj wrote: »

No tax on the first £1000, £500 or £0 of savings interest depending on your tax rate

I would imagine, for the vast majority, it will mean 'No tax' as opposed to 20% now.

Personally, I'll still pay a little tax but I wouldn't touch PBs anyway, the likely return is far too low.

Magnolia

*sigh* - no call from Agent Millionaire today - seems I will have to wait for the smaller numbers to come out.

Good luck everyone :beer:

Minrich

So do you get the phonecall on the first day of the draw if you've won the million ? One is in Suffolk , so i am still hoping !

Magnolia

2x£25 for us this month :j

Money_Saver_Jen

1 x £25 for me in the April draw.


Good luck to all you premium bond lovers !

ffacoffipawb

Nothing showing for me yet.