Skip to main content

Remember the interest on some NS&I products is potentially taxable

Some NS&I products pay returns that are free from income and capital gains tax. These include:

  • cash ISAs
  • premium Bonds
  • fixed Interest and Index-Linked Savings Certificates
  • junior ISAs

With regards to Guaranteed Income Bonds, Guaranteed Growth Bonds, Income Bonds, Direct Saver and Investment Accounts, the returns are taxable but paid ‘gross’ (without tax taken off).

 If you’re a UK taxpayer, you have a duty to declare the income to HM Revenue & Customs and pay any tax you owe. Please keep your NS&I annual interest statements and speak to us or your accountant. You should know that tax may change in the future.
Location: st.nicholas court, Dersingham, King's Lynn PE31, UK

Comments

Post a Comment

Popular posts from this blog

Managing Director Ben Allen graduates

Managing Director, Ben Allen attended the Personal Finance Society graduation ceremony on Friday 20 April 2018, as a result of achieving Chartered Status. Ben explains "The event was held at 20 Aldermanbury, London, EC2V 7HY which is the Head Office of the Chartered Insurance Institute and the Personal Finance Society. It was a beautiful day in the city of London and the building itself is fascinating. Over a thousand years ago Aldermanbury was the home of Kings. Rumour has it that the Insurance Hall stands on a site originally occupied by a Saxon Palace, but we know for certain that a medieval manor house occupied the site, which by the 14th Century had become an Inn called 'The Axe' (the commercial sign of The Axe, which originally hung outside the Inn in 1698, is today situated above the entrance to the CII museum on the second floor landing!) In 1932 the Chartered Insurance Institute was in urgent need of accommodation and so purchased the site (which was by then...
Post a Comment
Read more

Inflation

United Kingdom Inflation Rate 1989-2018 The UK consumer price inflation eased to 3 percent in December 2017 from a near six-year high of 3.1 percent in the previous month, as widely expected. Prices rose at a softer pace for transport, recreation and culture, housing and utilities, and food and non-alcoholic beverages. Inflation Rate in the United Kingdom averaged 2.58 percent from 1989 until 2017, reaching an all-time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. Consumer prices index (CPI) is the government's preferred measure of inflation. It is used for international comparison and the government inflation target for the Bank of England Monetary Policy Committee. It is available as an index from January 1997, with estimates back to 1988. It excludes mortgage interest payments and council tax. As of the 2010 budget, CPI as part of the triple-lock, is used to index state pensions in place of RPI. Why is inflation important? Keep...
Post a Comment
Read more

Chartered Financial Planners

The Chartered Insurance Institute (CII) has awarded the prestigious ‘Chartered Financial Planners’ title to Allen Tomas & Co Financial Management Ltd. Chartered status is an exclusive title only awarded to firms which meet rigorous criteria relating to professionalism and capability. All Chartered Financial Planners commit to the CII’s Code of Ethics, reinforcing the highest standards of professional practice in their business dealings. As the premier professional body for the insurance and financial planning professions, the CII promotes higher standards of integrity, technical competence and business capability. With over 120,000 members in more than 150 countries, the CII is the world’s largest professional body dedicated to these sectors. Success in CII qualifications is universally recognised as evidence of knowledge and understanding. Membership of the CII signals a desire to develop broad professional capability and subscribe to the standards associated with profess...
Post a Comment
Read more