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ISAs & tax-free savings

Archives for May 2014

Can I open new ISA this tax yr?
Hi. I have deposited £5940 in my Barclays Cash ISA which dropped to 1.49% AER this tax year. However I have found a Cash ISA with another provider which has a better interest rate - Tesco Cash ISA at 1.65% AER. Despite having deposited the £5940 this tax year, can I still open the Tesco Cash ISA which accepts transfers in?…
Transfer to S&S ISA - best strategy?
I have £60k in a Cash ISA which I was keeping in cash for a reason that no longer exists. I now want to invest it for better returns (expected investment period is 8-15 years), but I don't know how best to get from A to B. I've had a look at a few guides, but it's all either so vague that it's not helpful or really…
ISA: Timings of Deposits in Tax Year
Hello. I hope this post finds you well. Does it matter when during the tax year you deposit money into a Fixed Cash NISA in order to get 1 years worth of interest? I recall putting money in a Fixed Cash ISA many years ago a few days before the tax year ended, and I think I got interest paid on that for 1 year as if it were…
charges - simply?
I am looking to drip feed £200 a month into a stock and shares ISA to invest in three funds and leave £50 a month to build to invest in shares that I pick. I am looking at the platform to use to do this. iweb charges £5 for buying and selling funds - so am I right in assuming that this would cost me £15 a month (buying 3 x…
Two ISA's with Nationwide?
ISA newbie here.. I seem to recall reading on the MSE only a few days ago that it's possible to setup two ISA's in the same financial year with Nationwide - and be able to pay into both. (One other bank also offers this service, but I can't remember the name) The yearly ISA limit would be split over the two accounts? I…
ISA Allowance
Feel bit of a dumb question as I thought I'd be intelligent enough to know or find the answer.... I have Vanguard LifeStrategy 80% Equity S&S ISA set up on a monthly DD from the 2013-2014 ISA year. My question is, are payments I continue to make into this during the new 2014-2015 ISA year counted as part of my 15K ISA…
Withdrawing from ISAs - Best way?
Hi! Soon my OH and I are going to have little income coming in until I find work. We have a primary aged child. The only way to manage our outgoings will be to access my savings all of which are in ISAs. I have two cash isa's with instant access and a S&S isa. I presume use the cash isa's first but what's the best way to…
Virgin eISA rate dropping, any alternative?
Good afternoon, I've just had an email from Virgin Money saying that the interest rate on their eISA Issue 5 is soon to drop from 1.75% to 1.5%. Is there anything that can beat that at the moment that accepts transfers and isn't tied to a current account? I'd like to keep it tax free really, rather than sticking it in a…
Have I broken the ISA golden rule by transferring out ?
Following researching on this site as to what to do now that my 2 Santander ISA's had reverted back to basic standard ones paying a measly 0.5-1.0%, I used my online account management to transfer the full amounts to my 123 current account on which I get 3%. Further research then showed up the golden rule of never…
Share ISA
HELP! I had shares purchased through a sharesave scheme in a share ISA for 5 years. I left the company and transferred them from Halifax to Equinti. My question is as they are now still CGT exempt?
Student Loan/Grant "Loophole"?
Hi I think I have found a good way to save money for my children but wondered if anyone could shoot me down before I do this. I have been saving in ISAs for years and have a tidy sum put away. We also have 3 children about to go to university who I am sure will eat into it in a big way. I have been looking at student…
S&S ISA - is this ok?
If I open a low-charge self-select S&S ISA in this 14/15 FY (SS-ISA-2) purely in order to transfer in content of an old high-charge self-select S&S ISA from years past (SS-ISA-1), do I remain free to invest new 14/15 cash into another S&S ISA (SS-ISA-3) during remainder of 14/15? I would be investing no new 14/15 money…
Old ISA Matured
I have 18K that was in a 4% fixed-rate ISA that has just matured. Any thoughts as to where I can transfer it? Would rather not tie it into a fixed rate for too long.
Where to transfer an old ISA - help please
Hi all, I've been reading threads over and over to try and get the best answer to this question but I can't make up my mind! I am a higher rate tax payer (I think - currently on between £39k and 55k/year, depending on how much extra work I can get) and can put away around £1k/month in savings. Most of my banking is…
ISA Rules & Fund Platform
I have a direct debit set up for the Fundsmith Equity Fund, direct with Fundsmith in a ISA. If I was to transfer this fund to say Cavendish Online, would I be able to invest in other funds this ISA year ? Cavendish say there are no charges for transferring in but would I be out of the market for the transfer period ? Would…
ISA Rules Clarification
Can you transfer an existing ISA to another new ISA and then put the full current years £15k into another new ISA in the same Tax Year? Does this count as opening two ISA's in the same tax year?
ISA dilemma - subscribe now or in July?!
Hii guys Any advice would be very much appreciated :D I currently have 50k+ in an ISA with First Direct which is receiving 2% interest. I haven't subscribed to this tax year as of yet (no planned reason, I was just busy) - is it worth depositing £5940 now and topping it up to 15k on July 1st OR would it be better to wait…
MSE News: Torn between easy-access and fixed cash ISAs? Find out how to open both
Aldermore, Kent Reliance, Nationwide and Newcastle building societies now allow savers to split their ISA allowance... Read the full story: Torn between easy-access and fixed cash ISAs? Find out how to open both Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all…
Will the real NISA please step forward...
Seen whilst out driving through the Hampshire countryside today Gideon exposed! I suspected all the time his NISAs were simply ISAs with better rules. But how wrong I was, seems he actually means we all should buy shares in Volvo trucks that are some sort of Coop on wheels. Politicians!!!!
about my ica
Hi I have an ICA £3,600 and this year only got £36 interest,they say its the goverments fault is that so?:(

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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ISAs & tax-free savings

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