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ISAs & tax-free savings

Archives for February 2022

ISA - Annual Interest
Apologies if this is a stupid question. I have done several online searches but cannot find an Answer. If I take out an ISA with Interest paid annually but close the account early or transfer the account prior to the annual interest payment, will I get paid interest on the period prior to closure/transfer? I am looking, in…
Benefit of a SIPP?
Savings rates being what they are, someone suggested I open & contribute to a SIPP. I understand that anything I contribute, the Gov will add 20% (I'm a basic rate tax-payer), and that seems like good news so far.But then what happens if I want to withdraw my money? Am I commited to only doing so in the form of regular…
Question about moving Junior Isa from NSI to Halifax
What's is the procedure moving money from one provider to the other. I understand you can only have 1 Junior Isa at any one time for each child. I am still annoyed at NSI for slashing the interest rate from 3.25% to 1.5%. Have been meaning to do this for a while now.
Inheriting an ISA Allowance
When you inherit a cash ISA allowance, can you invest in any cash ISA or do cash ISA providers see you as over a barrel and only offer extremely low rates?
Guernsey Resident - Premium Bonds & Lifetime ISA
Hi Everyone, So I've been living in Guernsey for nearly 5 years now, but I still have a registered UK Address where my parents live and I still travel back there regularly. Before I moved to Guernsey, I had my Barclays account, which I still have and this is registered to the UK Address. I also have a NS&I Premium Bonds…
Questions on pening a Stocks and Shares ISA to accept a PAYE employee shares
Hi I hope this is the correct forum section. If there is a better place to post let me know. I have a few questions below. Ill give the details first, then the questions. My partner has some SAYE shares maturing on 01/03/22 Due to them being on the insider list, their date is pushed back to 03/05/22 The total value of the…
ISA FOR SON AGED 12
hI I need to open an ISA for my son aged 12 not sure which is the best and who with and with cheap cost and what amount you can put have in and length term
How many cash ISA
Quickie, having opened a cash ISA recently with VM and funded it, am I allowed to open another cash ISA and not to pay in any new money but transfer an existing cash ISA into it?
Cash ISAs and transfers in query
Hi folks, I've got a pretty straight forward question that I need to ask on behalf of someone else. :) - I have opened and subscribed (paid into) to an ISA with Marcus Bank for *this* tax year (2021/22) - I also have an ISA with The Cooperative Building Society that was last paid into in 2018/19 Am I permitted to open a…
Valuation reports for CTF - how often?
Can someone tell me how frequently CTF providers are supposed to send valuations?
Lisa bonus question
If my son opens a Lisa this week, in February, with the 4,000 he is allowed for this year, will he get the thousand pound bonus in April, or is it like interest and paid monthly so he will only get march, IE 1/12 of £4000. Thankyou, I've only just looked at them today as he is looking to save up for his first house.
£450k lifetime isa price limit
Hi, my daughter and her partner are hoping to buy a family house within commuting distance of their work places in London. They have been saving in lifetime ISAs, and we may be in a position soon to be able to help increase their deposit. The problem is that there are very few properties within their search area that are…
Should I close my Help to Buy ISA? (LISA)
Hi, I've been paying into a H2B ISA for the last few years and have accumulated roughly £6.4k. However, I have just opened a LISA with the intention of using the bonus to purchase my first home in about 5 years time. I believe that I can only utilise one of them when purchasing my first house. Given this, would it be…
LISA Investment Broker Decision Help
Hi, I'm 21 and looking to open a stocks and shares LISA within this tax year to retrieve the full £1000 bonus. I have done some research but thought I best ask here for additional user feedback. I currently plan to open it with AJ Bell as I believe this works best fee wise. I don't need it to be incredibly user-friendly as…
Lifetime ISA - Buying home with partner over £450,000
Hello, I have been saving into a Skipton Lifetime ISA for several years to buy my first home. I am now in a relationship and have moved in with my partner, who is an existing homeowner. When we buy our next home together, it is likely the value will be over the FTB LISA limit of £450,000 as we live in the south-east. My…
Anyone ever had book entry shares held in the US, how do you go about selling, cashing and investing
I have book entry shares held with the AST Financial in the US (a w8-ben form completed), purchase via ex company share options. New to this, so thinking of opening UK trading platform account with a S&SISA Basically, Im looking to sell and cash out let's say 40k(20k on each side of this April) but then also sell some to…
Lifetime ISA
I am looking to get a Lifetime ISA but when I go on RBS I’m not sure what it would be classed as; cash ISA or Fixed? Will it give me an option when I apply for lifetime or can I not find one because they don’t offer it? TIA
Fidelity Platform Fee Question
Hi, I apologise if this is a daft question. I understand that Fidelity have a service fee £45 cap on ETFs within an ISA or SIPP. My question is how does this apply if you have more than one account, say an ISA and a SIPP? Is the £45 cap on both accounts or would you be charged £45 per individual account? I have read the…
Private sector pension v LGPS v LISA for overpayment
I am a lower rate tax payer (just). I opened a Lifetime ISA pension recently just before my 40th birthday. I am trying to decide whether to contribute more of my savings to the LISA (before 4th April deadline) or the pension. The pension benefits from salary sacrifice. I want to make an overpayment of £3500 (I would then…
S&S ISA+SIPP provider: FSCS protection
I have a SIPP [70k] and S&S ISA [150k] with the same provider. I'm trying to understand what FSCS 'protection' I'd have if the provider [ii] went belly up. ii is FSCS-authorised, so as I understand it, I'd have 85K protection in total. Some Qs I've got: - Have I understood FSCS protection correctly?- Should I split the the…

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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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