Blog

A £million prize flutter where you get your stake back if you lose? Too good to be true?

Investments, Personal Tax, Tax/VAT Cases l

imagesCACSE8UFDo you fancy a flutter where you get your stake back, and you could become a millionaire?

The amount which an individual can invest in Premium Bonds has risen from £30,000 to £40,000 a year from 1 June 2014, in a change aimed to support savers announced in the budget earlier this year. The investment limit will be raised again in 2015/16 to £50,000.

Operated by National Savings and Investments (NS&I), the increased investment limit will give investors a greater chance to win tax-free prizes. The number of opportunities to win the top tax-free prize of £1 million, will be doubled from 1 August 2014 as there will be two prizes of one million pound per month, up from the current one chance per month.

SHARE: facebooktwitterlinkedinfacebooktwitterlinkedin