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Tax on savings
Former Member
Posts: 17,476 The Mix Honorary Guru
Hi all, just want to clarify something...
Im aware that we get taxed 20% on interest on any savings so im right in thinking that the amount of interest i get is 80% overall yes?
Im trying to work out the better place to keep my savings since my ISA interest rate is 0.25% but my savings account (which will be taxed) is 0.5%.
Im aware that we get taxed 20% on interest on any savings so im right in thinking that the amount of interest i get is 80% overall yes?
Im trying to work out the better place to keep my savings since my ISA interest rate is 0.25% but my savings account (which will be taxed) is 0.5%.
0
Comments
This means when you look at rates it will be a like for like comparison
Hope this helps!