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New Isa Rules Query
With the new Isa rules coming in to effect this tax year, I was thinking of putting about £5000 into a fixed rate Isa, and then later in the year opening an easy access Isa. The problem I have is that the rules state * You can now subscribe to multiple ISAs of the same type within the same tax year. Because they are two…
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ISA Funds Holding Cash in Money Market via HL Platform v Regular Bank ISA
I am wondering if anyone has any opinions on pros and cons of holding cash in a standard bank ISA or investing it in a stocks and shares ISA with HL and then taking out an investment with something like the Royal London Short Term Money Market. I was just wondering if the Stocks and shares option might give more…
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Parent paying Money into teenager's Cash ISA + Junior ISA
Can a parent pay money into their teenage child's (under 18) Cash ISA and Junior ISA? OR, does the parent pay into child's current account first and then the child transfers into the cash ISA (different banks). Are there any tax implications? Any other considerations to keep in mind?
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WestBrom WeBSave 60 Day Notice ISA (Issue 2) - considerations while transferring out
Planning to open the WeBSave 60 Day Notice ISA (Issue 2). As there is a 60 day notice, how do we do the transfer out without paying the charge equivalent to 60 days loss of interest. I know that in the transfer-in form with the new provider, I can request the new provider to wait for the "notice period" before asking…
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ISA Help
Hi, apologies if this is a repetition of other questions. I am just struggling to comprehend something and wanted to ask very clearly so that I can understand. I opened a 1 year fixed ISA with RBS at the end of the tax year (before the deadline), and put the full £20,000 allowance into it. I have some more savings and want…
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Confused about ISAs
Hi. I am retired (and already pay tax on my pension) so any savings are also taxed. I have a Santander current account that is only paying 2% interest - So I am probably wasting money having it all in that account. I am a bit confused about ISAs and the £20,000 thing. Is this the maximum tax free amount one can invest (as…
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Which Banks/Building Societies still allow under -18s to open a Cash ISA
I am aware that with the new ISA guidelines, many banks have increased the minimum age requirement to open a Cash ISA to 18 years. But, looks like some banks are still allowing a Cash ISA (fixed or easy-access) to be opened in the current tax year to Over 16s. Is there any easy way to find out which banks are allowing…
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Transfer ISA for cash-back
I have an offer of cash-back if I transfer an existing ISA to my 23-24 tax yr provider. Bit naughty, but if I setup a 24-25 tax yr no strings cash ISA with a new provider now, can I transfer that out almost as soon as it is setup? Are there normally any restrictions on minimum times held before transfer, etc.
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Isa transfer
I took out a fixed rate ISA last August. I want to start a new ISA for this upcoming tax year. What is the best thing to do when my existing ISA fixed rate deal ends? Can I transfer existing ISA into new one in August? Is that possible? Or do I /can I, open another ISA in August and transfer it over then? Thanks
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Withdrawal of recent funds put in AJBell LISA?
A friend has been told they are being made redundant in the near future 😳 They put a £2k into their AJBell LISA just before the end of the tax year (obviously before they were aware of the redundancy threat😔). I know the LISA rules mean they cannot withdraw without penalty (clip from AJBell document explaining it). Would…
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Is there a tipping point from when to switch from a % based ISA to a fixed fee ISA?
Hi, I have been saving in a vanguard ISA for many years and the amount has now reached a fair amount. Given that Vanguards' fees are a % of the total assets with them, my fees have grown with the value. Due to this I was wondering if there is an easy way to know when to move my assets into another provider such as…
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Concerns re Plums lack of transparency
I opened an account with Plum on the 6th of April using the app.I wanted to transfer £20,000 for 2024-2025 cash ISA and had to do this in blocks of £5000 from my Chase account.This money has only just been taken from my Chase account (12Apr), but it doesn’t show in my Plum account and when I contact them they said it takes…
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Overpayment
I stupidly started a new S&S Isa on 1 April rather than after 6 April. The provider is treating the payment as 2023/24 which takes me over the £20k limit. They can't won't shift it to 2024/25.HMRC has said not to try and 'fix it' myself. What to do? Do I only pay the balance into the ISA this year or continue paying into…
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Fractional ETF shares in a S&S ISA?
Hi. Apologies if this has been covered before, but are fractional shares in ETFs allowed - by HMRC - in a S&S ISA? I know the government plans to allow fractional shares to be held at some point, but is the current issue that HMRC has with them limited to company shares only? Thank you.
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ISA to credit card
I used my isa savings to pay some of my credit card off, but the amount paid off is a few pounds less than the amount i paid in. No mention of any transaction charges or anything. Is this an error or is the tax being taken out when I transfer, because I though isas were tax free?
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S&S ISA and Witholding Tax question / Assumptions (E.g. W8-BEN)
Hello, I'm looking at buying some NYSE listed shares to hold in my Lloyds S&S ISA. I know I'll have to complete form W8-BEN (and I'm familiar with that form because i have some shares in a US company already via my workplace) I'm assuming that from a UK ISA perspective, I don't have to worry about taxation because: a) the…
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Managed or not
I took financial advice a few years a go and took out a Prufund ISA, charges a bit but does ok I think. However I read a lot about getting tracking low fee isas instead, global equities. I am so confused . I am sure this is not what an fa will say. Thoughts?
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Chip ISA problem
Tempted by the Chip cash Isa offer, I downloaded the app, but have found it impossible to prove my identity. It suggests my driving licence (though spells licence incorrectly) but when I try to use this option, my android phone says the app has a bug in it and Chip need to sort it. I've tried messaging them to try to get…
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£20k per year?
Hi, I keep reading you can save £20k in an ISA per year. Does that mean for 24/25 I can put in another £20k into a cash ISA, in addition to the £20k I already have in there which was paid in during 23/24? Or is £20k the most you are allowed to keep in the ISA account? If so why do they use the ‘per year’ wording?
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CHILD TRUST FUND
My sons CTF is due to be paid out in July 2024, He asked me to look at the balance, Barclays prosper. Value put in £250.00 Balance today £255.62 After 18 years this Balance must be wrong. What or who do I contact to check this out.?
