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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 1.35% (April 2015).
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.
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.
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Coronavirus (COVID-19) update
As a valued member of our community, we appreciate the trust you place in us to make sure all your critical services continue.
We are committed to an evidence-led and common-sense approach to containing the coronavirus outbreak and mitigating its impact on employees, customers and our wider business operations.
Please be assured we are preparing for our services to continue as normal. We have business continuity plans in place to minimise the risk of infection and make sure we can continue to deliver a business-as-usual service to our customers should an infection occur at an office. These include implementing clear guidelines for employees, providing support and advice for anyone who needs to self-quarantine, and issuing guidance on following safe hygiene practices across the organisation.
You can find further information on Covid-19 below to keep you updated:
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