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Tax trap on new NS&I British Savings Bonds when you pay in just £7,700

Savers who put £7,705 into NS&I's new British Savings Bonds could be landed with a tax bill in three years' time, due to how they are structured.

Hampshire , United-kingdom , British , British-savings-bonds , Guaranteed-growth-bonds , Guaranteed-growth-bond , Guaranteed-income-bond , Hampshire-trust , Thisismoney , Money , Moneysaving

Savers hit with NS&I tax trap

Savers putting money into NS&I’s new savings bond face being hit with a tax trap owing to a quirk of how the bonds work.

United-kingdom , British , Sarah-coles , Laura-suter , Hargreaves-lansdown , Shawbrook-bank , British-savings-bond , Guaranteed-growth-bond , Guaranteed-income-bond , Premium-bonds , British-savings-bonds , Growth-bonds

Tax trap on new NS&I British Savings Bonds when you pay in just £7,700

Savers who put £7,705 into NS&I's new British Savings Bonds could be landed with a tax bill in three years' time, due to how they are structured.

Hampshire , United-kingdom , British , British-savings-bonds , Guaranteed-growth-bonds , Guaranteed-growth-bond , Guaranteed-income-bond , Hampshire-trust , Dailymail , Money , Moneysaving