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Savings Account or ISA?
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katiepops_2
Posts: 359 Forumite
I have a little job on the side from my full time job where I am invoicing the company for my time. When I get paid I want to be able to put a quarter of the money aside so that when I do my tax return the money is there to pay my tax/NI.
Would it be better for me to open a savings account for this, or open up a mini cash ISA?
TIA.
Would it be better for me to open a savings account for this, or open up a mini cash ISA?
TIA.
0
Comments
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Always better if you are a taxpayer to use your ISA allowances first. If you use an ordinary savings account you will lose 20% or 40% of the interest to tax.0
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