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Where's the best place to stash 100k?
Mark_Ice
Posts: 377 Forumite
Being pretty clueless when it comes to investing dosh I thought id seek some advise. Would it be best to do something offshore or maybe through a UK back, like us all I dont fancy the taxman leeching off my money to excess!! Next question is how much interest would 100k make?
Any idea's/suggestions people?
Any idea's/suggestions people?
So many of our dreams at first seem impossible, then they seem improbable, and then, when we summon the will, they soon become inevitable Christopher Reeve (1953-2004)
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Comments
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Hi,
There are plenty of tax-efficient ways to invest, including VCTs, shares in AIM listed companies , forestry...just depends on your personal circumstances and risk tolerance ! You could also make use of your annual CGT allowance ( £8200 for the current tax year ).There is of course no *legal* way to *evade* tax.
£100k would make roughly £5000 in interest before tax.
I would suggest that you read a few good investment books ( I will list some, if you're interested ). That amount of cash would be wasted in a deposit account :-)
HTH
Cheerfulcat0 -
There are about 10,000 products/areas to invest available to you at this time. A little bit of help in narrowing down the options would be nice
offshore doesnt avoid tax. However, it can be more tax efficient in the way that it is paid than an onshore bond.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hello Mark_Ice
Is this capital earmarked for something ( such as a future house purchase?) Is it essential to keep it safe, or could you take a risk with some of it, to try to get a better return? How long do you expect to keep it invested?Trying to keep it simple...0
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