Hi all,
I'm in the fortunate position that I'm going to come in just under my £1000 tax allowance on savings this year, through careful planning. I'm less fortunate that I had to lose a loved one to be in this position.
As I say, I've done some careful calculations and I'm not using all of my ISA allowance in order to maximise the income which is available from higher rate taxable savings. I could potentially move some of my savings into an ISA to avoid paying tax on my Kirk Hill income this tax year (which I'm not expecting to be much if anything given go live date), but it's probably easier to just pay whatever tax is due once we get there for this year.
My thought on all of this, and I'm sure the financial boffins have already considered it, but could there not be an ISA type scheme for this kind of saving, or even taking a chunk of my ISA allowance to save in a renewable investment. I'd have thought that Government would be more likely to look favourably on an opportunity for everyone to invest tax free in renewable energy than just to have additional savings.
Anyway, just my thoughts. Toodle-pip!