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Savings & investments

Archives for March 2015

Savings Advice for Starting Career
Having graduated in July, I now work full time for a defence company with a gross income of £26k. I live in Glasgow and I'm 22. I intend to save between £100-£400 a month (initially I'm saving £450 per month for the first 6 months due to the company covering my rent). I'm looking to save around £26k over 4-5 years, which I…
Current account question
I'm interested in switching from Nationwide Flex to Yorkshire Banks Current Account Direct as it's offering £150 for switching. I have a couple of queries. 1. One of my main points for not switching is that I thought it'd be hassle letting my employers know that I wanted my salary going to another account. But reading…
How many shares can I sell without incurring capital gains tax?
My husband bought £15,000 worth of shares through a company scheme over several years. Those shares are now worth about £90,000. He has transferred them all to me as I am a non-taxpayer and we now want to start disposing of the shares. I understand that my capital gains tax allowance is £11,000 if I sell before this tax…
Quick Santander Question
I'm about to apply for the 123 account but as I want to stay with Halifax and get the £5 monthly reward, i'm planning on using the switch via an old unused Halifax account I have (so I can benefit from cashback). Just a quick question, how much money do I need to have in this unused account to switch to Santander. I know…
Topping up grandchild's investment account
My son has set up an investment isa with Hargreaves Lansdown for my granddaughter. I wish to pay in a lump sum but am a bit puzzled by all the questions I have to answer to do this - for example date of birth, time at current address etc. Is this really necessary? (I was born in UK of UK parents and the money is coming out…
Fedup with sippdeal/youinvest/AJ Bell charges
Hi, Ok, I've had it up to here with youinvest / sippdeal / whatever they wish to call themselves today. - Forex charges that bear no relation to actual costs. - Other charges and fees. - Lousy stock quotes (wide spreads) - Lousy stock search, and many international stocks are "telephone only" (surprise surprise ... more…
Non-Residential Bank account
Hello, I am from Bermuda (a British Colony). My parents are both from the North-East and I live out there for a year. I'm trying to open a bank account in order to purchase property with the intent to move but for SOME reason Barclays and Lloyds will not cater to Bermuda residents. Not sure why the change as it was ok…
Rare Earth Metals
A few years back I invested in some rare earth metals but the company disappeared, although I do have the metals. Recently I was contacted by a company saying it has identifed people like me and has potentially a large amount of rare earth metals and has identified a buyer. Has anybody any knowledge about the state of the…
Is there a UK REIT index tracker?
Hi, I'm interested in REITs as a slightly more hassle free way into property, and have found the Vanguard ETF which looks great for the US market: https://personal.vanguard.com/us/funds/snapshot?FundId=0123&FundIntExt=INT Is there anything similar available in the UK please? I know this will be included as part of a lot of…
GSK cash return via B shares query
Do you have to have held GSK shares on a particular date to qualify for the GSK cash return via B shares? Or is it just at some point in the future to all current shareholders? I have some shares which I want to sell and buy back into an ISA but don't want to lose my entitlement to the B shares payout.
S&s isa
Hi, Hopefully this is in the right area. I'm wanting to start spread betting. I only have a small amount of £1000. According to Martin, you're 'allowed to make £11,000 of gains this tax year (2014/15) tax-free outside an ISA. So you would ONLY gain using a stocks & shares ISA in a year where you were making total gains…
What do I do if the Santander rate drops?
I currently have £21,000 in an ISA but Im tempted to open the Santander 123 account and putting £20k in it so I can get the 3% interest before tax. I have £16,000 in another account so could open an ISA as well for 2015/2016 and max it straight away, BUT if the Santander 123 rate drops dramatically what do I do with the…
Premium Bonds maximum rising to 50k
Back in March 2014's budget there was an announcement that the maximum you could put into premium bonds would rise to 50k in 2015. Since then I've heard nothing more of it. The NS&I website makes no mention. Does anyone know if it will happen, and when?
Terminate Vision Contract
Hi guyes! Need your help! I was attcked by IFA consltants and sighned Vision 25 years plan:( Just recived my papers signed back and starting reading terms and conditions(yes stupidly after sighning) I ve read a lot about Vision here and become crasy about not read it before. Do you think - I can terminate this contract…
Muppet Money
Came across an interesting article this morning. According to Henderson Global Investment: Full article http://www.cityam.com/212800/muppet-money-investors-are-losing-out-billions-parking-savings-cash
H2B Isa
Martin in his last newletter stated that if you wanted to take advantage of the new H2B ISA you should cancel your direct debits immediatley so as not to activate a 2015/2016 ISA This is not strictly true, you can have an ISA commencing April 2015 and as long as you dont exceed £1000 by the time the new H2B`s are launched…
New help to buy isa query
I currently have a cash isa in which i transfer into monthly. Does this mean i am unable to open a help to buy isa?
New government 'help to buy' ISA account
I am interested in the governments new 'help to buy' ISA account, but I don't think you can open another one within the same tax year? I am very new to ISA's and would appreciate any advice.. As I do not currently have an ISA account should I open one now before the 6th April or would this impact on the government one?…
Isa Account Query
I applied for a new ISA last week and have asked for funds to be transferred from an old ISA (transfers are permitted). I'm conscious that the new tax year starts on the 6th so not sure if it'll be set up in time. I'd also like to pay in some money from a savings account preferably before the 6th April. If I do this now…
Savings for a child with life threatening illness
Hello. Hope you can help. My son has leukaemia and has been given some money that we would like to invest for him. Due to his illness being life threatening we do not want his savings locked away until he is 18 as we hope to take him on a special holiday when his treatment has finished. At the moment the money is being…

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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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