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Savings Accounts for 17 year old
Hi, I'm going round in circles a bit trying to decide the best options. My son is 17 and has a part time job and is earning up to £300 a month. He currently has a tsb under 19s account 2.5% with about £1000 but is wanting to put some of his money away so he doesn't spend it straight away. He also has about £300 in an old…
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Where To Save Money? Advice Please
Hi All, After a recent check of my 3 savings accounts with my current bank (including 1 ISA) they are all displaying as 0.20% interest. I'm now looking at making a switch. I'm currently a basic rate tax payer. I have approximately 17k of savings (10k of which is in my ISA). I am paying off a 5k loan, but interest is…
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Vanguard Life Strategy Accumulation Shares
Can someone please explain the dividend with Vanguard Life Strategy accumulation shares. Are we paid a dividend that increases the fund holders numerical holdings if re-invested, or are dividend re-invested in the shares that are currently issued, increasing there value, with no numerical gain to the share holder s…
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Savings for retired parents
Hello all. I'm sure this has probably been asked before, but I can't seem to find a straightforward answer on gov.uk or similar websites... I understand that a basic rate taxpayer can earn £1000 in interest from savings before tax is deducted by the bank or building society, but does the same rule also apply once you have…
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Savings account for Grandchildren
Can I put money in some sort of savings account for each of my grandchildren that they can't access until they are 18?
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Vanguard LifeStrategy 40 for LISA - Good plan?
Hello there, I would like some opinions/advice please, if you’d be so kind. I want to put £90 per month in a LISA, for 7 years, as of next month. This is for the purposes of a shared ownership flat deposit, for which i’ll need about 10K. I am a busy bee, so I have little time for doing much managing, or the learning…
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Not allowed to open a new Flexclusive Regular Saver
My current Flexclusive Regular Saver has just matured. So I went to open a new one for another year but got the message "sorry you cannot open one as you need to have current account with Nationwide and fund it with £750 for three months. I have a Flexdirect account which has been open for a few years now. And put more…
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Keep money in bank accounts or dripfeed into regular savings
I have several bank accounts, Tesco, TSB, Lloyds, Bank of Scotland etc. Paying between 2 and 3% interest. I also have a First Direct account which I use for my main current account. Would I be best opening up a regular savings account with FD and drip feeding max of £300 per month into it from one of the other accounts to…
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Bonds advice required.
I have two SIPPs fully invested (value £150k combined) and one Fund account with the same provider (value £150k) £85k of this is invested and the remainder is held in cash, what’s the best mix of bonds to hold assuming I don’t need to access this for two years. Not looking to beat inflation but hold onto most of its…
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Have IWeb suddenly become more expensive than even HL for Funds?
Hi all, Just came across this page http://www.iweb-sharedealing.co.uk/Landing-Pages/coming-soon.asp and in particular the Costs and Charges PDF there. This has changed because luckily I have previous versions saved. Under Funds there is now a "typical transaction cost" of 0.5% of your investment!!! There is also an example…
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Cashing in Cryptocurrencies
I am a PhD Researcher who receives an annual tax-free stipend of circa £14K. Additionally, I have some cryptocurrency investments, from which I would like to draw some profit. My question is this: if I cashed in £11,500 of my cryptocurrency investments, would that be subject to tax? Or would it remain under my tax-free…
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Investment for Dummies
Merry Christmas All! Been a lovely Christmas Day but that hasn't stopped me from working for a hopeful promotion in 2018 and to work hard to achieve wealth. One the pieces of advice I get told, hear and read all the time is invest. But the reality is I don't know where to begin, I am in my 20's, married and about to become…
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First time investing help - directly with the fund, or via 3rd party?
Hi, I've decided to try investing some money. I've never done this before, and have been reading up. I've decided that I'd like to go with a passive tracker fund, and the Legal & General UK/International funds seem to be recommended in various places. So now I want to invest - I see that I can do it directly on the L&G…
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ISA options before purchasing first home?
I'm really looking for some advice on current situation and savings options... Looking to buy our first home when our current tenancy comes to an end in early September - we currently have around £15K each saved in absolutely crap accounts that haven't been updated for years, so no doubt getting piddly amounts of interest.…
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Junior ISA and junior reaches 18
My son had a junior ISA with Nationwide BS. He reached 18 in June 2017. A letter arrived May 2017 from Nationwide BS, informing "Your Smart Junior ISA will mature on your 18th Birthday". Information read- on your 18th birthday the account will automatically transfer to a Junior ISA maturity account, with interest rate at…
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NS&I Maturing Bond
I took out a NS&I 65+ Guaranteed Growth Bond in January 2015. I invested £10,000 at the interest rate of 4% Gross/AER. I expected the maturing bond to be worth £11248.64 which is 3 years compounded at 4% with interest calculated annually but the letter tells me the maturing fund is £11,163.29. Can anybody explain why?
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Children's Savings Account with online access
Hi all, After some advice please... My child currently has a Halifax Young Saver Account (2% interest). I no longer have my current account with Halifax so am looking to move the Young Saver elsewhere - ideally somewhere where you can see and manage the account online alongside other accounts. I've seen the Barclays…
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Concrete Garage v Brick Garage
Hello Forum, I was planning on getting a concrete garage installed and would like your advice as to whether it is worth saving more for a brick garage to add value (if it does) to our home, if we decide to move in the future. I would like the concrete garage as it gives us much needed space for gardening equipment, kids…
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Help to buy ISA bonus claim
Took out a help to buy ISA and paid in over a number of months. Later moved abroad for an 18 month assignment and stopped paying in as per the rules. Now buying a house in the UK with my girlfriend and find I can't claim to 25% government bonus as this year I am not currently a UK taxpayer as I am still paying taxes on…
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Tax Residency Self Certification
I have received one of the above forms to fill in from one of my banks anyone had one of these before, it says it is to comply with new laws brought in. It also asks for a TIN number which from reading the attached letter appears to be SS number so I am assuming it is my NI Number which is used for tax purposes, anyone…