If You Do Not Pay Tax

If you do not pay tax, or you want your interest paid 'gross' for some other reason, National Savings accounts which traditionally have paid interest gross will continue to do so, including the investment account and income and deposit bonds.

Remember that the first £70 interest from the National Savings Bank ordinary account is tax free anyway.

It is often advisable to have some money in National Savings to ensure that your tax allowances are fully utilized. There is more information about National Savings and using your tax allowances later in this site.

Alternatively, most high street banks have branches in the Channel Islands where you can deposit money and get the interest paid gross. The interest can be credited direct to a mainland bank account if you wish. You should ask your bank manager if you are interested in one of these accounts.


Read On? - New Investment Income

or Second Or The Third Year's Income

New Investment Income

/retirement/pensions/income/advice/new-investment-income.php... see: New Investment Income