We’d like to remind Forumites to please avoid political debate on the Forum.
📨
Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Savings & investments
Archives for July 2020
Discussion List
Use LISA to pay off DEBT?
Hi guys, I have a £5500 loan at (4.9%) and £6500 in a LISA (earning 1%). I believe that due to COVID the penalty for withdrawing a LISA has been lowered to 20% rather than 25%. If I withdraw, does this mean I just lose the bonus and none of my own money? If so, is it advisable to withdraw the LISA and pay the loan off?…
HL revamp their marketing list
Email from HL says the Wealth 50 is being revamped to the "Wealth Shortlist" which may in fact be more than 50! In the days of 150 recommendations I never understood how you could come up with 150 active funds that consistently outperformed, or at least paid for themselves compared to a cheap tracker, and even 50 seemed a…
Re claim mis-sold investments
Hi there, I wonder if anyone can help please: in 2007 I was advised to invest the money from my house sale by Halifax, in 2007/2008 I lost the whole of the amount I invested. I have been informed that I can try to claim this money back by using a 'Template' letter to contact Halifax, can anyone suggest where I can obtain…
How big an emergency fund should I keep
Hello all. A quick question on how big an EF I should keep. Prior to Covid, I've never kept much of an emergency fund, and instead kept savings in in S&S isas, in mixed equities funds, but now there is a mini-monkey in the house, and in light of increased volatility post Covid I've started keeping more of an EF. I'm not…
Best saving account for 16 year old but still managed by parent?
We've been putting money every month in to a Halifax Kids Monthly Saver for the last few years. Every anniversary that gets transferred into a Kids Everyday Saver. The child has now turned 16 so is no longer eligible for the Monthly Saver and the Everyday Saver is now only paying 0.01%. There's about £4k in total that I…
Abcdefghij
Abcdefghij
Bare Trust Tax Implications for Beneficiary
I set up a Bare Trust to save money to pass on to my child some time ago. When I transfer the Bare Trust to my son, what are the tax implications ie how much capital gains tax would he have to pay on say a £30K transfer? Just looking for a ball park figure. He is currently a student so no income beyond a student loan.
A J Bell
HI there, hope someone can help. AJ Bell has offered me 4.2% over 2 years bond. It is fully guaranteed by government compensation scheme and guarenteed 4.2% per year. They say I am not buying stocks and shares I just dont understand it, is it genuine is there something im missing as everywhere else I can only get 1%…
In Specie Partial SIPP Transfer Question
Hi, I have a SIPP with my employer which is with HL. It's got big enough that it's time to move the majority of it to IWeb where I have the bulk of my pension. Given the recent fluctuations in the markets I don't want to be out of them at all so I don't want to transfer the money as cash. I gather I can keep the money…
Confirm your email address to Create Threads and Reply
Is this how you want to be seen?
We see you are using a default avatar. It takes only a few seconds to pick a picture.
