Date: Thu, 11 Aug 2005 07:12:33 +0100
From: Ian Cornish <"icornish at talk21 dot com">
Newsgroups: uk.finance
Subject: Re: =?ISO-8859-1?Q?=A310K_short_term_investment_advice?=

Stick as much as you can into a Mini cash ISA (Max 3K, per person - so 
you and your partner can stick 6K away like this) - it's tax free, and 
you can get good 5% rates @ no risk to the capital (See Fool.co.uk) 
(Quick calculation... 3K will get you approx £10-12 per month in 
interest - tax man gets nowt). For the rest, stick it in a Mini-stocks 
ISA, though these are on the stock market, and there is a risk you will 
loose the capital. Some good ones are out there. If you don't want the 
risk, find a high interest savings account (Again, Fool.co.uk will offer 
comparisons etc), but you will pay tax on the interest earned here. 
However, you can then switch this money into next years ISA allowance, 
so you won't be paying tax on the interest next year.

HTH.

Jason wrote:
> Hi,
> from the sale of my property, I'm about to receive just over £10K.
> For the coming year, I will be living in rented accomadation with my 
> partner, and will be looking to use the £10K as part of a deposit for 
> property.
> 
> Interest rates are low for savings, and I would really like to at least 
> get the money back at the end of the period.
> 
> I'm not too sure how long this money will be "put aside", but I expect 
> between 1 and 2 years.
> What are my best options for getting the most out of this money?
> I'm a standard rate tax payer, but this will change in the next few months.
> 
> Any advice very welcome,
> Thanks!
> Jason
>