2016 – How am I doing?
At the start of 2016, my passive income tracking is picking up. I have managed to increase my income streams over the past year and also by moving my cash savings around, I have managed to increase the interest earned on my cash.
Lets see how I get on this year:
Here’s my passive income stream for 2016. My ISA income is up 114% on last year, now this will be the new ‘clean funds’ starting to pay out with charges being separately taken. It will now be clear how much the investment companies have been skimming off. Charges now need to be transparent and clear to the customer.
I have been moving my cash savings around and will do so again this year. The taxation of savings interest is changing so the amount will go up as cash savings interest will be paid gross from Apr-2016! This will mean I will then need to track my tax liability as I will now have to pay my tax at the end of the year and dependent upon my tax rate, I will have a different savings threshold before tax becomes payable.