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Previously on "Aldermore Easy Access - drops from 1.10% to 0.85% from September"
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Cambridge and counties 30-day notice account to drop from 1.5% to 1.25% gross AER effective 13/10/2016.
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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...
Leave a comment:
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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...
Leave a 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...
Leave a comment:
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I use ratesetter as a way of making part of my war chest work for me.
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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).
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Originally posted by PerfectStorm View PostBlimey, didn't know investing company money was legit!
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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?
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Originally posted by TheGreenBastard View PostI know that Saving Stream allows company accounts; ergo the money is still in the company. Putting the money in houses via a SPV is probably not a bad idea either tho.
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Originally posted by TheGreenBastard View PostSame here, so far so good - some wobbles, all in all pretty decent.
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Originally posted by PerfectStorm View PostBut you take a 7% hit on the money as so as it comes out of your company - or worse. So you're better off putting it in something high yield like a house, or using business savings surely?
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Originally posted by ChrisFromGreece View PostFor P2P lending, I am using SavingStream
Been using it for almost 2 years with no issues whatsoever
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