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Withdrawing Cash From a Personal Investment Plan
Hi Everyone, Can anyone offer some advice? My wife has POA for her mothers Persoanl Investment Plan (PIP) with Scottish Widows. We are going to have to start using this money to pay for her care home fees next year. I don't know much about these plans, but have read that any withdrawal is subject to tax on the whole amount…
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Flexible ISA - T212 -move money from cash to S&S
There’s a feature called ‘move funds’, separate to withdraw or transfer. Am I correct that this complies with the new rules and would not result in exceeding your allowance if you put some of the 2024/25 £20K cash ISA , into their S&S ISA? A quick search finds articles that say you need to complete a transfer to move money…
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Made a hash of ISA transfer
Hello. I would like some advice on how to rectify a very poorly judged ISA transfer. I had 30,000 in a Charter Savings bank 1 year fixed rate ISA which recently matured. Upon maturity I transferred the money into a Charter flexible ISA saver with a rate of 4.25%. Earlier in the year I also put £12,000 into a Trading 212…
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Chip Cash ISA FSCS Protection through ClearBank - clarification requested
Dear forum members I have been reading about deposits in Chip cash ISA being protected under FSCS through ClearBank. I've also checked ClearBank on FSCS website and it confirms the deposits with ClearBank are protected. However, when I read the ClearBank FSCS document that details the exclusions it states 'A deposit is…
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Loanpad announce drop in rates
Our new rates will be as follows: From 02 January 2025: Classic / ISA Classic 5.40% Premium / ISA Premium 6.40% From 01 February 2025: : Classic / ISA Classic 5.30% Premium / ISA Premium 6.30% I suppose it was to be expected - Loanpad Premium ISA rates still have a slight premium on cash ISA rates but there is a small…
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Flexible ISA different provider question
Hello, Please can I ask if you can you take money out of a flexible ISA (either a cash isa or a stocks & shares isa) with one provider and put that money into a different provider's cash isa / stocks and shares isa? I know this needs to be done in the same tax year that it was deposited, but I'm not 100% sure on the…
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LISA Stocks and Shares and JISA stocks and shares
Hello, Happy New Year! Sorry for the listed questions but I'm hoping someone can advise me. I have queried about S&S ISAs before and have just taken the plunge and opened one with Wealthify to ease me in (with the £40 cashback too). 1. I am now wondering whether I should move my daughters' ISAs into a stocks and shares…
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CASH ISA Interest Rate change
Hello, I have some money in a CASH ISA with MoneyBox, and recently have received a message from them letting me know the interest rate has decreased, from 4.25% to 4%. I'm not sure there's anything I could/should be doing, like changing to a new CASH ISA, or if I should just leave my money where it is. I was wondering if…
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ISA
I need some advice. Upon a divorce I discovered my husband had taken out an ISA for £60k in my name. I don't know how - could he do this without my presence ? Now he is accusing me of financial dishonestly in family court saying I knew about it and withheld it from the family court. His financial advisor said I must have…
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APS ISAs - Any Point?
My dad died recently and left everything to my mum in his will. I'm the executor of his will, and I'm in the middle of sorting out his bank accounts. He had two ISAs open with Kent Reliance, total balance including interest of about £41k. Kent Reliance said that some banks offer "APS" ISAs which means my mum could transfer…
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CASH ISA confusion - help for 'dummies' please
Hello guys. I'm hoping to get some clarity with this post whether CASH ISA is for me. I have quite a limited knowledge of finances and apologise in advance if the questions I ask seem obvious for more knowledgeable forum users. I have 30k in savings currently. So far I've been keeping them on my regular bank account…
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Transfer cash isa to S&S ISA
I am retired and 55 next year. i have a cash ISA with T212 and considering moving some to a S&S ISA as part of my retirement income plan. is this generally a good idea ? Even more so now savings rates are reducing ? Other than potential losees, or low growth, are there any other disadvantages or issues to look out for…
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LISA rules
If someone has never owned a property but has had a shared ownership in an apartment (now sold) would they still be a first time buyer and be able to open a LISA account? Thank you.
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Cash LISA for first time buyer
Looking to open a cash LISA. Money box interest is 4.8% AER (variable) for the first year, and drops to 3.8% after this. Whereas Tembo is 4.75% AER (variable) and the website says no drop off after one year. Recently saw Martin recommend Moneybox however considering Tembo doesn’t have the drop off after year one surely…
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Move Help to buy ISA to another ISA
I am considering moving my £8k help to buy ISA to another cash ISA product the interest rate is only 2.60% with Halifax, I'm sick of the crap interest rate, yes I now i would lose out on the government bonus but would mean i can save as much as i want elsewhere. I'm over 40 so no, LISA are not relevant. Any thoughts?
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Multiple years isa
Hopefully this is a simple one (not for me though as been searching for hours and still not sure). can I have multiple years cash ISA running tax free? I’m thinking can you - Open a cash ISA today for this year and deposit 20k Then open a new one in May next year with 20k I think the answer is yes as long as I only ever…
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Work sharesave SAYE clarification
Hi everyone. I started a share plan mid covid which matures next year (25/26 tax year). Nobody , including HMRC has been unable to confirm the answer This is a 5 year plan £12,000 paid in . Current value based on today’s share price is about 32k which is good ! The gain, is therefore 20k. My theory is that at maturity I…
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Vanguard Personal Rate of Return figure
Evening forum. I don't understand Vanguard's Personal Rate of Return figure; how does that translate to an annual rate of return figure please - is there an equation?
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BARCLAYS CASH ISA CANCELLED WITHOUT MY KNOWLEDGE
I found out today that Barclays bank cancelled my Cash ISA. Shocked was an understatement. They produced a letter that was supposedly sent stating that I had to phone them before a certain date, otherwise they would close my account. this was due to not making any financial transactions. I never received said letter.…
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Trading212 - Rate reduced to 4.90% from 30/11/2024
Just noticed in the app and in small print on the website that with effect from 30/11/2024 the interest rate is being reduced from 5.17% to 4.90% AER. This applies to Cash ISA, Stocks & Shares ISA and Trading account.
