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Savings & investments

Archives for June 2008

Capital Gains Tax in Investment Trusts/OEICs?
Hello, I've just read that within Unit Trusts there are no CGT :D (you generate CGT when you sell units) :mad:. How this works with Investment Trusts and OEIC? -Any CGT within the fund there? :cry: THX, THE NOX Everything Worthless Serves a Purpose…
? Tax rate on savings for a higher rate tax payer ?
Dear MSE, Could someone help clarify a point for me. From general reading on this site, it looks as though higher rate tax payers pay 40% on their income and 40% on their savings ? Hence the recommendation by Martin that it makes sense to shuffle savings to your partner (if they are standard rate tax payers). I am a higher…
Best savings account (not internet)
My mum is about to receive her state pension and has decided that as she still works part time she wants to save her pension. She doesn't have the internet so would need to open a high street account. Where would be the best place for her to apply to and would she be better with an ISA or a high interest account? I know…
2 million - Where to save / invest?
I am in the enviable position of having 2 million to invest or save. I'm not really a stocks and shares player (mainly because I don't understand it), I much prefer the high interest savings account route. I have my full quota of premium bonds and mini cash isa and my home is mortgage free. I have read Martins banking and…
Equitable Life withdrawal Penalties UNFAIR?
I had my investments with Equitable life for some years until I like many others wouldnt take any more risks with a failing Investment Company (/Bank? /Institution) & decided to withdraw my Investment funds and place them elsewhere. When I contacted Equitable they had added NEW penalty clauses to their terms and conditions…
Saving Advice
Hey guys im new to all this! Right at the moment im with northern rock for a current account and an ISA but its not really saving me that much money! So my question is whats the best out there at the moment?? Also I have fiance out at the moment with GMAC for a car I bought at the start of the year i think it was 7k ish…
Alliance & Leicester Free W/D in July
Just a reminder that there are no interest penalties on withdrawals during all of July. I shall be emptying my Direct Saver that now pays a miserly 5.5%. I have had an abysmal experience with A & L who have lied to the extent I took them to the FSA. I will never use A & L again - their Customer Service is atrocious.
1200 pounds a month - Where to save?
Hi all - Newbie after some opinions How would you spread 1200 pounds a month in savings and investments? I am a 40% tax payer I have used up my cash ISA allowance for this year and would be looking to put 3600 in straight away next April. I have a 208k mortgage but am fixed for another 3 years at a good rate I have no…
Cheapest way to bank transfer from Ireland??
Hi, I have some savings in an account in Ireland with Allied Irish Bank. Does anyone know the cheapest way to transfer this to a UK account, or would it be cheapest to just withdraw it in a UK branch and deposit the cash here? Thanks
HSBC ONLINE SAVER A/C - no withdrawal penalty in July
Normally no interest is paid on the HSBC Online Saver account during a month when funds, however big or small, are withdrawn. I believe penalties are suspended for July and I can withdraw funds without incurring any penalties. Can someone confirm this
First Timer Saver needs help
Hi There, I have recently been left £25,000 in my dead mothers estate. I have never had this kind of money before and I would appreciate some help on what type of account or investments I should lodge it into? I'm currently on a career break from work for one year. I have very few out goings as I live with my father in his…
Mothers money
My mum has most of her money in an nationwide ISA. This pays her 5%. She is retired and a non tax payer. Would she be better off saving in a higher in interest account. One problem she has is she has no Internet access nor never will . Also she has no passport or driving license, which means applying for new account is not…
I have got some money to invest
Hi all, due to a seperation with my wife in the near future i will have about 18-19k and really wanted some good advice on how to make the most of my money.I am prepared to not touch the money for at least a year or maybe longer.So just wondered if anyone can help me out with my best options. Thanks Rickymicky
can i set up savings for a child without the parents knowing??
found out at the weekend i am going to be an aunty in january, my brother has not been with the girl for long and my brother is not very good with money (and have a fear that they may use the money in harder times), i am thinking of setting up an account for the child when it is born and for me to pay £30 a month in until…
Saving For A Nipper!
I would like some advice please. I want to start an account for a new born baby a family member is expecting. The kind that when they are 18 or 21 they have a few grand to spend on something. Any ideas? ISA, trust fund..? Thanks
BM bond - interest monthly or annually?
Hiya, I would like to invest in the Birmingham Midshires 1 year internet fixed rate bond, but should I opt for interest to be paid monthly or annually? Monthly - gross pa: 6.89%, Net: 5.51% and AER: 7.11% Annually -gross/AER: 7.11%, Net: 5.69% If AER is the same, does this mean I will get the same return regardless of…
How interest is paid in a savings account
I was searching on how interest is paid in this case(every day, once a month), but to no avail. Do you know how it is paid in a savings account? Thank you
Help with Mums money please!
Hi My Mum has got £40k to save/invest. She is over 50 and does not pay income tax. Looking around it seems the Principality 7.15% 3 year fixed will give her a return of £49,208 - which I think she would be happy with. However she may be willing to go to 5 years on an investment which at worst case scenario would return her…
Just found an old post office book.
hi people, good news! just found a really old post office book in my name with 240 pound in it! cracking stuff haha. my mum said she fought i still had some cash in there but had lost the book ages ago. the last intrest added to the account was in 1992, how much intrest would have accumalated over 12 years out of intrest,…
Email to a friend Savings Companies - Who Owns Whom? - The Listings
I know a few people wonder who owns who. This might be of interest. http://www.moneyfacts.co.uk/Savings/articles/who-owns-whom-listings.aspx

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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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