Originally posted by TheGreenBastard
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Aldermore Easy Access - drops from 1.10% to 0.85% from September
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Well Aldermore's notoriously slow website isn't letting me in this morning... wonder if they've caused a run on the bank?⭐️ Gold Star ContractorComment
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Originally posted by mudskipper View PostCambridge and counties have just reduced their rates too.Comment
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Originally posted by PerfectStorm View PostBlimey, didn't know investing company money was legit!Comment
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Zopa and Ratesetter both allow company accounts. They are probably two of the less risky P2P firms (although rates are lower as a result).Comment
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The thing is, investing company money into a company Ratesetter/Zopa account means that you pay CT on the interest earned, and then when you take the money out of the company for yourself you'll pay more tax that way. Potentially at a higher rate than today.
So it may only be efficient if you put any such interest straight into a your personal pension, or if you pull the money out of the business now and put it into a personal interest bearing account, taking advantage of the tax exemption on personal savings interest.
Just a thought...Taking a break from contractingComment
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Originally posted by chopper View PostThe thing is, investing company money into a company Ratesetter/Zopa account means that you pay CT on the interest earned, and then when you take the money out of the company for yourself you'll pay more tax that way. Potentially at a higher rate than today.
So it may only be efficient if you put any such interest straight into a your personal pension, or if you pull the money out of the business now and put it into a personal interest bearing account, taking advantage of the tax exemption on personal savings interest.
Just a thought...
Hence once you hit the £45k level (excluding pension payments) unless you really need ready cash for many people it makes sense to keep the money in the company...merely at clientco for the entertainmentComment
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Originally posted by chopper View PostThe thing is, investing company money into a company Ratesetter/Zopa account means that you pay CT on the interest earned, and then when you take the money out of the company for yourself you'll pay more tax that way. Potentially at a higher rate than today.
So it may only be efficient if you put any such interest straight into a your personal pension, or if you pull the money out of the business now and put it into a personal interest bearing account, taking advantage of the tax exemption on personal savings interest.
Just a thought...Comment
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