UK 65+ Guaranted Growth Bonds

[rayn]

I am looking for some advice re these bonds.
I have read the brochure from NS&I on web page. I think they would be available to a person living in Ireland with a UK National Insurance number and in receipt of a UK social security pension who has a UK bank a/c.
Tax at basic UK rate is taken off. As an Irish taxpayer I will have to declare the interest. What additional tax will I have to pay here if I am paying at the high rate in Ireland?
Are they good value -- 1 Year at 2.8% AER--- 3 Year at 4% AER?

 

[Gervan]

It does seem as if you could be eligible to take out the 65+ Bond, but you would be paying 40% tax here less the UK tax withheld.
If you're single the maximum you can invest is £10,000, so there won't be much difference at the end of a year.

 

[Gervan]

Edit to the above: it seems you can invest £20,000 each, by buying a one year bond as well as a 3 year one.

 

[Steven Barrett]

You'd want to get your skates on. There's only £10bn made available for this bonds. Their website crashed from the amount of people trying to subscribe to these bonds.


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

 

[Gervan]

I read that the restriction had been changed. This is no longer a "total amount for the fund" but rather an application date in May.

The deadline to apply is 15 May, with the Government expecting a total of £15 billion to be deposited by that date. It had initially not put a time-frame but had limited their availability to £10 billion in total deposits. That would have been enough for 500,000 people if all paid in the maximum contribution, but by early February, £7.5 billion had already been deposited by 610,000 people, prompting the Government to extend the scheme so more people could invest.
From Moneysavingexpert.com