Despite the lack of tax advantages, the proportion of readers who planned to invest some of their bonus money into cryptocurrencies has nearly doubled in a year, at 6 per cent, as President Trump vows to make the US the “crypto capital of the planet”.“A bullish year for crypto, so I will invest my bonus in that along with my Nasdaq and S&P trackers,” said one UK-based recruitment consultant, adding that the eventual capital gains hit on crypto had not put him off.
This year’s survey also showed one in three readers intended to invest some of their bonus money into general investment accounts (GIAs), compared to just one in five last year.
This way, they avoid high marginal rates of tax on the slice of income between £100,000 and £125,140 as the personal allowance is clawed back, and can retain valuable childcare benefits including “free” nursery hours and tax-free childcare that would be lost if one parent earned more than £100,000.“Paying into a pension is really the only option for me,” said one reader working in insurance expecting a bonus of up to £50,000.“If I didn’t, my bonus would be subject to tax and national insurance at 62 per cent, plus I would lose my daughter’s nursery hours.
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