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Getting decent interest on savings for CT

Has anyone got any good experiences?

Didn't find your answer?

Money set aside in a company savings account for future Corporation Tax liability usually gets pitiful interest.

Does anyone have any good experiences or bank recommendations?
Has anyone gone outside of the 'bank box' to other investments?

Say £5,000 - £15,000 on deposit / investable.

 

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By Wanderer
13th Jan 2018 10:36

For the interest you'll get on £5 - £15k is it really worth
a) Your time?
b) Tying the money up?

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By jimmyxyz
13th Jan 2018 17:18

This is the list of business savings accounts that I refer others to (and then they can decide!):

https://moneyfacts.co.uk/business/business-savings-accounts/

As regards investments, this old thread is worth reading:
https://www.accountingweb.co.uk/any-answers/investments-for-a-limited-co...

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Hallerud at Easter
By DJKL
13th Jan 2018 17:38

Not without risks to the capital, i,e, funding circle.

I threw £5,000 of company money at it in year ending 31.3.14, interest £157 for circa 6 months and £131 for about three months of year ending 31.3.15, but took losses of £173 and£95 respectively, so net over circa 9 months of £20, an annual return of 0.5%.

Some people do a lot better but I am sure some do worse.

If it was not for the fact it is short term money my current choice for long term (certainly over 5 years but likely nearer 10 years) tends to be the UK stockmarket (Though can scupper ER if in a company), I am currently earning (well last time I checked as markets have risen so will now be lower div yield) on a melded mix of 2/3rds Investment trusts (for overseas exposure) and 1/3rd individual stocks circa 4% div yield with a target of the same (which I have on average beaten over last 10 years) capital growth.

But would not try with tax money, we did that at work one year when we had made a substantial profit on a property deal and had about 15 months until needed to pay our CT and blew a fair chunk; it was not my idea, the stockmarket and the short term is not a good mix.

Just to be clear imho stockmarkets look a bit funny at the moment, I cannot decide where I think they will go (though Brexit vote was fantastic if you held dollar earning holdings) and this is certainly not investment advice, however for long term money, with inflation running as it is, there are not that many options and as my paycheck depends on the commercial property market and as a fair chunk of what we own is already tied up in our houses (averse to all eggs in one basket), and given I detest residential letting (only like commercial) ,I have limited options.

Interested to hear where others stash their hard earned cash both in the short term and longer term.

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