3min chapter

The Martin Lewis Podcast cover image

Are your savings safe in the bank? (and paying to squeeze blackheads)

The Martin Lewis Podcast

CHAPTER

The Importance of Adding Interest to a Fixed Rate Account

When does the interest count for tax purposes? Ooh. I'm going with C with withdraw the interest. Yeah. The day you can access it, so the first time that you can get hold of that money or the day you take the interest. This is the rule on all savings. It's never a good start. Well, it's no thing. There you go. That was the fart noise I meant earlier. And so this is a really important message for people. When you're planning, when your interest is going to pay, for example, let's imagine you were moving into retirement and going to be a lower rate taxpayer. You could then use a long term fixed rate

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