We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings Account or ISA?
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.6K Banking & Borrowing
- 254.8K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.7K Mortgages, Homes & Bills
- 179K Life & Family
- 263.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards