-
Tax on savings for higher rate taxpayer
So, I'm trying to understand how this works. I'm on a 40% tax rate since last year, as I got a nice salary bump. I have various savings accounts (non-ISAs) with different banks. Every year I make about 500 to 1000 pounds on interest, after tax. This interest is automatically taxed by the bank using a fixed 20% rate. Which…
-
Out of Interest, Wage Inflation?
I always watched wage inflation, it kind of tracks net interest payable on a normal instant access account for a 20% tax payer...usually the normal instant access account pays a bit more. Currently what you can get is 1.6% net of tax, so 2.00% Gross, whereas average wage inflation is what 1% at most, so negative relative…
-
Improving saving returns on money languishing variable rateoffset mortgage - ideas?
hi there firstly my apologies if this is in the wrong place. I think it should be in savings but it relates to a sum of money currently 'languishing' in a variable rate offset repayment mortgage which is for paying off the mortgage and/or for unforeseeable expenses so not wanting to lock it up for long. Currently £24K…
-
Santander rate dropped, where now ?
I have been taking advantage of introductory savings rates and then moved my money on when it expired. First I was with ING, the West Brom and now Santander which has just ended and dropped back down to a low rate. As Santander and West Brom both come top in best rates (for new customers) What would be my option now for…
-
Saving for children who live abroad
Hello, I would like to put a modest chunk of money into savings for two children related to me. They are 3 months and 2 years old and live in Australia (born there). I'd like it to be as long term as possible, aiming for the money to be a gift when they turn 18/21/when they need it. I might be able to top it up…
-
'Switching' to First Direct for £125 and 6%
Can I 'switch' to first direct by creating two standing orders for £1 between my Barclays and Natwest current accounts for them to transfer and opening a Everyday e-Saver Account with £1 to avoid moving £1000 in and out every month? Seems too good to be true so I thought I would check.
-
Should an IFA be a fund tracker too?
We find ourselves in a tricky situation. We are fairly easygoing and in the past not very investment savvy, having a few grand in ISAs. Our IFA is a family friend. However, a few years on a good salary and early retirement with a big lump sum payout changed that. The IFA advised further investment in ISAs and a joint unit…
-
Foreign Currency Savings
I would like to hold some savings in USD and Euros. Please can anyone suggest reliable and interest paying foreign currency accounts. Thanks
-
Advice Please
Hi all Looking for some advice on where to put some money. I have poor credit history so i cannot open any of the high interest current accounts , so they are out. I currently have £11400 in Natwest ISA 2% (used this years allowance) £2000 + £50 per month H&L Vanguard LS 20 acc £250 per month going into N&P Regular savings…
-
Difference between Cavendish and Fidelity
Please could someone explain the difference between using Fidelity on its own and going via Cavendish? I see that there are some good cashback deals on Fidelity at the mo but I don't want to make a longterm decision on the basis of a few hundred quid. Apols if this has been explained before, I did have a search but…
-
ISA and Emergency Fund Question
-
£100k
Hi, What is the best way/account(s) to invest £100k from a property sale. Not found a new one to buy yet. Any advice/ideas? Thanks...
-
Royal Dutch Shell Shares
What is the difference between the "A" and "B" shares?
-
BlackRock Consensus vs. Vanguard LifeStrategy
Hi, Have just noticed the BlackRock Consensus tracker. Looks like it is similar to the Vanguard LifeStrategy trackers, however it is free of platform fee through HL (atmo). What do you guys think about this tracker? I was thinking of going into LifeStrategy 80%, however might add the BR Consensus, as it's with no platform…
-
ISA savings at 3% and do some good
-
Best way to save on a small occupational income/pension
At the moment all forms of saving with instant access have quite a low, mostly below inflation, interest rates e.g about 2.25% for Cash Isas. If, like my wife, you have a small occupational pension or wages below the single persons tax threshold of £9444.00 per annum but more than £500.00 a month. If you then open a…
-
Investing, clearing debts, savings
A friend recommended this forum to me, I must say it's great, full of lots of useful information :) Anyhow, I'm currently struggling to decide what to do with my finances, and thought I would ask the experts for a little advice before I go mad. I'm having a bit of a fight with myself over what to do with my money, which of…
-
Mortgage vs. Buying Outright
It seems that buying outright used to be frowned upon (from past topics on this board anyway). Is this still the case? My parents (soon to retire) want to invest some of their savings into a buy to let. Would it be better for them to buy it outright (yearly income will only be slightly above taxable level), or get a…
-
Short term savings
My girlfriend and I need to save around £3000 over the next 4 months for a holiday and I'm looking for the best way to do it in terms of maximising the amount of interest we receive. Should i just get the best available ISA or will that not pay out any interest if we close it before the end of the financial year? Any…
-
Gold tracker advice
Can someone recommend a gold index tracker backed by physical gold held if there is such a thing?
