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Paying into NS&I 6.2% Fixed rate bond.
Has anyone applied and opened an account yet? The final step on the application form requires the entire deposit to be paid in one transaction from a debit card. My Santander card has a limit of 25k on transactions so is that the maximum I can place in the account? With most other fixed rate bonds, the bank allows you to…
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Scottish Friendly Savings account
Good afternoon, I have a Scottish Friendly account set up for my daughters future. I pay in £100 a month and there is around £5500 in there at the moment. It is currently in a UWP fund account. The interest has been very little and it has actually lost money. Does anyone have any recommendations for a better fund on…
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Junior ISA Fixed Rate
Hi, i am looking to open i junior cash isa for my daughter however would ideally like a fixed rate option but can only find variable rates. has anyone found any fixed rate options? if i was to go for a variable rate how risky is this?
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Is it better not to put assets from my mothers will into a discretionary Trust?
I hope someone with experience of all this might be able to advise - its all quite confusing to me! A (Nil Rate Band) Discretionary Trust was set up from my late mothers will recently - assets a little over £100,000 - now sitting in my fathers bank account. My father, myself and my sister are trustees, beneficiaries will…
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Need some advise on a savings or bond 1yr
I recently wrote another thread regarding money inherited to me, it was £38k. I have put £20k into an isa at nearly 6% which leaves £18k. I'm 50yrs old I work part time so I'm on a relatively low wage of around £15k a year in an employed job. I was looking at a fixed one year bond at around 5.8% (although I could get over…
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Bare Trust Fund
Does anyone know if the FSCS compensates over the £85,000 limit for a bare trust fund? My partner is the only beneficiary but there are 3 Trustees. The web searches aren’t very clear
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Stafford Railway login problems?
Hi Is anyone else having issues logging in to SRBS? I can enter my user ID and password, get through to the authentication code screen, but I never receive an authentication code.
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Freetrade free share - capital gains tax
When you sell a free share awarded by Freetrade is the base cost zero or the market value of the shares at the time they were awarded?
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How would you invest £40k with these options?
Hi... A basic rate tax payer, has £40k. Can lock away £20k for 1 year, if needed, not preferred though. Investment options are: 1) NS&I 6.2%1 year fixed (£16k generates £1k before getting taxed) 2) Santander 5.08% AER/Gross (variable) easy access - monthly interest (£19k generates £1k before getting taxed) 3) Tesco…
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Tax and savings
I am just after a little clarity if anyone is able to assist me please? I am looking to take a part time job and my salary will be c. £21000. I have some savings which are likely to attract around £4200 interest per annum in addition to interest paid on an ISA. Will I be paying tax on the interest above £1000 on the non…
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Transfer old cash Isa to 2 new ones
I’ve reached my £85000 protected money limit in a cash Isa, so now want to transfer it to 2 new cash Isa providers splitting the money. I have paid nothing into this years Isa allowance. Can I open 2 isas and transfer the old Isa money between both and then add my new allowance into one of them ? Thanks
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Upcoming Sept Bank of England Interest Rate Review
Hello, Looking for some good 1yr fixed rate savings account and ISA accounts. On 21st Sept 2023 the Bank of England will be reviewing interest rates again. Is it worth waiting until after that meeting to get the better rates? How long would it be for the expected 0.25 rate rise to work through to savings products? Trying…
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Is a tax return needed even if the interest is from savings held in cash ISAs?
If my interest from savings is above £10k but if you exclude savings in cash ISAs the interest is less than £10k, would I need to complete a self assessment tax return?
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YouGov Growth Potential
Hello you wonderful and intelligent people that make up this forum. I sincerely hope you are doing well and keeping positive. I have been doing some research into the YouGov stock and over the next few years earnings are supposed to increase by 65%. Some hedge funds specialising in small cap stocks also hold this company.…
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Premium Bonds: two holders numbers
I opened an NS&I account last year and then sold my income bonds to take out some Premium Bonds. My mother then reminded me that I had Premium Bonds from when I was a child and a young adult. Turns out that the holders number for the ones from when I was a child/young adult is different to the ones I purchased last year…
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NS&I fixed rate bonds
I recently tried to purchase ( as above) the new fixed rate bond @6.2%.After 2 days of telephone calls I gave up! WHY?..Because years ago I had premium bonds ( no longer) but their system couldnt seem to delete the old account numbers etc! Also...If you invested £1.000000 I imagine you would be taxed on the interest, so…
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Six Towns Credit Union goes under
The subject of FSCS protection comes up frequently. Saw this in our local newspaper, Sandwell based Credit Union has failed. FSCS to step in. https://www.expressandstar.com/news/business/2023/09/05/credit-union-is-declared-in-default/
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Tax return? Groan!
I moved house last month and my future buying plans are uncertain but certainly for the next 6-12 months I won't be buying another property so I have a large sum sitting in no-notice accounts earning over 4%. If I understand the rules correctly having interest over £10k means I will have to full in a tax return. Especially…
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NatWest Regular Saver Interest Payment
I pay £150 p/month into the above account which is due to end next month. This month I received less interest than last month 01/09 - interest of £7.82 on balance of £1533.88 01/08 - interest of £7.95 on balance of £1375.93 why?
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Cash ISA vs Stocks and Shares ISA in late 2023
Just wondering on people’s thoughts re fixed rate 1 year Cash ISA and Stocks and shares ISA in 2023. My investment literature says that it generally looks for a return of approx 6% pa in the long term, and that is with a medium 5 out of 7 risk. I can however take out a fixed rate 1yr Cash ISA at zero risk at 5.78%. What…