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Premium bonds

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JJ50 Tue 02-Feb-16 16:13:10

I am finding that the money I have invested in Premium Bonds is giving me an excellent return, much better than the money I have in my savings account. ERNIE comes up most months. I have the full amount one can own in Premium bonds, and my three daughters have kindly said I can put the full amount in their names too, on the understanding that if ever I need it they will withdraw it for me. Obviously I tell them to keep any prize money.

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Jalima Fri 21-Oct-16 15:42:02

Who, me?
Perhaps I should ask for commission.

Interesting, though, if the prize money is tax free why would the Inland Revenue be involved; does it then change into a taxable gift if you give it away?
Is it subject to inheritance tax?

Questions!
To which I will probably never need to know the answers.

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