News
26/07/2010 - Negative Equity for Savers
Basic rate taxpayers need to earn 4% gross interest to beat inflation and maintain the spending power of their cash, following an announcement by the Office for National Statistics that the consumer price index fell slightly to 3.2% in June. Things are even worse for Higher rate taxpayers as they would need to earn 5.33% to beat tax and inflation.
It is understood that the average Basic rate taxpayer saver is actually losing over 2.6% per annum on their savings in real terms, with things even worse for Higher rate taxpayers.
If you are looking for inflation beating returns then please make contact and arrange a free initial consultation within one of our financial experts.
<< back
|
