Tax Helpsheets
Back to HelpsheetsPremium Bonds
Invest in premium bonds and get your winnings tax free!
If you invest in premium bonds all the prizes you receive are tax-free.
There is a limit of £50,000 you can invest but if you invest the full amount you are likely (but not guaranteed) to get a reasonable rate of return because of the amount of bonds you hold. Prizes are based on a rate of return of 1.40% until November 2020, and 1.00% from December 2020 onwards.
Regular prizes should come your way and they are completely tax-free.
More importantly perhaps, there is also the opportunity of winning the big prize of £1 million – there are two £1 million prizes each month.
Winnings on the national lottery are also tax-free but your chances of winning are far lower. If you win the lottery as part of a syndicate, make sure that you have a written agreement setting up how the group will be managed i.e. who buys the tickets and how prize winnings are to be shared out. If not the person who collects the prize and shares it out may be considered to be making gifts for Inheritance Tax purposes.
National Savings also offer a number of tax-free investments.
How We Can Help You
For further advice on tax free investments please contact us.
Tax Checklist
Our tax busting checklist is designed to cover all of the common (and a few obscure) legal ways of saving tax. Of course this is a checklist and before implementing any specific ideas you must discuss them with us as everyone’s individual circumstances are different.
The checklist is designed to cover most of the routine items that the small and medium size business owner should be looking out for. There are often more ideas that a pro-active accountant can come up with so please talk to us about your own personal circumstances.
The checklist should take no more than 20 minutes to complete. You can then arrange to meet with us in person to go through any areas where tax saving opportunities have possibly been identified.
Download our Tax-Busting Checklist 2018-19
Personal Tax Organiser
Use our FREE personal tax organiser to organise all your personal tax papers to make completion of your end of year personal tax return easy.
Download our Personal Tax Organiser 2018-19
Download our Personal Tax Organiser 2017-18
Download our Personal Tax Organiser 2016-17
Download our Personal Tax Organiser 2015-16