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still confused £1000 tax free interest on savings
"At Budget 2014, we announced that from April 2015 you won’t have to pay tax on your interest if your taxable income is less than £15,600." Doesn't mention £1000, just taxable/total income Still confused (even for this current tax year) My paye income is likely (Agency work, so therefore I never know) to be £12 k (may end…
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should I pull money out of my Isa?
My wife and I each have around £45000 in a hsbc loyalty Isa! We are Premier Account customers! From January 2016 the rates are dropping to 1.3%. I am now thinking our money would be better off split over different interest paying current accounts! My concern though is that we've spent years building up this tax free amount…
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Which fund to catch some upside from a possible rise in the price of oil?
So I have some cash waiting in my portfolio and would like to make the most of any future upturn in the oil markets. I was considering the MFM Junior Oils fund, but with the share classes available on my platform I either have to pay an initial fee of 5.25% and asset AMC for the dirty share class, or invest £50K minimum…
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Is SIPP the next logical step?
It seems to be from what I have read but I am curious about your thoughts. I am 39 on 60k (about 3300 a month). Mortgage is paid (little flat, nothing special, but good enough). I am saving at least 2000 a month, so 25-30k a year. I have always maxed my annual ISA which takes half of this, the rest goes through high…
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complicated savings calculator
Hi, I have a savings account in my bank for the period of 5 years. I was wandering if anyone knew a free tool with which I can calculate the amount of interest accumulated after those 5 years, but bear in mind a fact that payments to that account will be irregular, and in different amounts. That means that I will put…
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Is this a good long term investment?
I'm 18 years of age, I am currently a Floor Manager which brings in roughly £900 after tax a month. However, this will soon rise as I will be getting promoted to a Shift Manager, this is expected to rise to about £1,200 a month after tax. I currently have £7,000 in my bank account I would like to mortgage a house and let…
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Where Best To Save Inheritance
Hi guys, I have recently inherited £15,000 and just have it sitting in my RBS savings account earning essentially 0% interest. Unfortunately being very busy with work I have not had time to research new accounts and then go about opening them but I'm hoping to figure out what the best thing to do with this money is and get…
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Help to Buy Isa +innovative finance isa
Hey folks, Okay, so I'm thinking of opening a H2B Isa with Halifax. What I want to know is if I open that now, Can I then open a Innovative Finance Isa when they come out. In addition to this, will I be able to continue to pay £200pm and also continue to fund my p2p account tax free? Much appreciated for any response.
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santa rally 2015
How's your rally going / been?
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Bank fees
I have a Santander 123 a/c. My fee has always been taken on the 7th of the month. That is until my December statement, which had no fee deducted. Are they waiting till after the 11th. So they can charge me the new £5 fee in January ? have any other sme members noticed the same. What does Martin think ?
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Hit a bit of a crossroads
I'm hoping somebody will have some suggestions. I'm in my mid 30's and have two young children. I have no debt bar my mortgage of £120k (8 years to run) on a 1.9% fixed deal. We have enough savings in the bank to cover all expenses for at least a year and are both fortunate to have stable jobs. We typically have circa…
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Santanders' nerve
Santander sent me 2 days ago 4 identical letters. 2 for 'dead' accounts but 2 telling me that my ISA interest was now to be 0.25% and same for my savings account. To say I'm livid is an understatement, how dare they!! 25p for loaning them £100 for a YEAR! I have withdrawn all of my ISA and my savings from them and bought a…
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Direct debit's
Is there any tricks to getting round the 2 direct debits required by the lloyds club current account? I'm guessing, setting up 2 payments to transfare money to another account won't count as direct debits? I don't want to start paying bills from my savings accounts so don't want to move bills to them accounts. Thanks Dan
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Time limit to move FTD excess to keep within new FSCS limit
Hi all, Does anyone know the time limit during which you are allowed to move funds out of a FTD in order to keep your exposure to an institution to below the new £75,000 limit? Plenty of internet comment that this is allowed but it all dates from 6 months ago with no details of the mechanics involved. I'm hoping the…
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Capital Gain on Shares
Hello, I am getting a bit flummoxed regarding how to work out the capital gain when selling shares, particularly working out the average cost price. I understand the basics, and the advise from gov.uk (https://www.gov.uk/tax-sell-shares/same-company) but not sure how that would work in practice when working out the average…
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New Family - New budget / new savings approach?
Not sure if this is the best section of the forum to start this sort of rambling discussion, but thought I'd give it a go. We are a new family with a one-year old baby, and it's time to get serious about our finances (the time to get serious was probably a few years ago...but here we are...)! Having bumbled through until…
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My plan to get £500 in 2016
Ok. £500 might not seem much to some people, but would be massive for me. All numbers are calculated from gross interest rates - not the AER that I quote here, and do not allow for the tax on interest change in April. So my actual interest earnings will be higher. My current situation: Total savings £8000, split in the…
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Bank Accounts Advice Needed
We are a charity, run entirely by volunteer Trustees which has around £800k in cash which has built up over the last few years and this is expected to grow a bit over the next few years. We wish to keep most or all of this in cash, but because of credit risk, we would like to hold no more than £200k with any group of…
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4 payments left...then what
Hi, I'm almost there - 4 more £250 weekly payments and i've paid off my last bit of debt :) wohooo. So since i can live with missing the £250 each week i worked out that over the course of 2016 i can save just under £13,000....whats the best account / savings plan for me to do this in.... Thanks Denis
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Capital Gains Tax on shares acquired abroad
Hi All, I've relocated back to the UK after 5 years in Switzerland. I picked up employer shares in Switzerland. They are currently held by the employer's Share Registrar. Now I must either sell or transfer to another registrar (not familiar with this topic at all). The value increased since buying them. If I sell the stock…
