Saving for the taxman !!

busy_builder

Being a self employed (sole trader) builder I save for the taxman via a mini cash isa.
Therefore I need (almost) instant access and no penalty withdrawals for when I get his demand for money. I currently have £5000 (previous years) and will top up with this years allowance in readyness for next years tax bill.

Anyway I'm (at the moment) with RBS and they pay a miserable 4.85%:mad:

I'm not into swopping at every opprtunity for the best rate so I was wondering which company paid the best rate.....on average.....year on year.

I don't want to put it into shares as I need a safe place with access as the taxman does't take prisoners !!!!

TIA

Baldur

busy_builder wrote: »

I'm not into swopping at every opprtunity for the best rate so I was wondering which company paid the best rate.....on average.....year on year.

See Moneyfacts table and over 36 months

Gordon_the_Moron

http://www.moneysavingexpert.com/savings/best-cash-isa

If you don't want to be moving regularly avoid anything with a bonus rate applied, I'd go for Icesave or Egg if I was in your position.

going2die_rich

Shouldn't you just be saving in a normal savings account and actually saving your ISA limits for yourself? As if you use your ISA limit up for the taxman and then remove the funds, that ISA is gone for good. This is presuming you are doing better than just breaking even.