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ISA, income tax & gains
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Patr100
Posts: 2,769 Forumite
Ok I've read many of the threads etc . but roughly in cash or percentage terms, what kind of differences are we talking about? As I currently only work part time and take home about £2000 a year , I still seem to be paying some income tax . Not sure why I thought I wouldn't as isn't it below my personal allowance? Can anyone explain that?
Can anyone give me a clear example of the percentage gain - compared with non ISA investment accouints - to be made eg on each thousand invested - via an ISA if a tax payer? I don't have much income obviously but seem to be paying income tax, though also have some savings.
Can anyone give me a clear example of the percentage gain - compared with non ISA investment accouints - to be made eg on each thousand invested - via an ISA if a tax payer? I don't have much income obviously but seem to be paying income tax, though also have some savings.
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20% of the interest,so on £1k
5% typical interest rate = £50
20% of interest = £100 -
Ah right. Thanks.0
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