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As a PAYE taxpayer, how to complete a BBSI letter from HMRC?
I've had a letter from HMRC stating that I have untaxed interest for the 2024-2025 tax year, and instructing me to provide "information [for] each bank and building society account". I have had at least* 14 cash accounts in the year; their form allows space for just four, and says to continue on additional sheets. The form…
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Financial Investor and Loan Provider on Facebook
my colleague was deeply involved with this on facebook and hoping to get a loan, he was will to fly to meet them. I am not allowed to post the link, but if you go to facebook and type in the search Financial Investor and Loan Provider it comes up under "pages" They sent him a video of a consignment of cash that had just…
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Tax efficiency on savings interest
Hello all, I have inherited a lump sum that I'd like to keep as savings until I retire in 5 years, with a view to buying a house for my retirement. It would help a lot to minimise the tax I have to pay on the interest over the 5 years. I've seen somewhere that if you pay the interest into an ISA, it won't be taxed. Is this…
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Tax on savings
hi, im new here so apologies if this has been asked before. I have savings in an account with a building society. I am 64 years old and retired. I don’t get my pension for another two years. My question is - do I pay tax on the interest I earn on my savings.? Thank you.
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Unbiased and IFA. ??
I put some details into Unbiased and now I have multiple calls and texts from a IFA who was allocated for me. Not feeling very happy with it to be honest. I feel if I get my free home visit, I'm going to get hassle to move into funds that get advised based on the standard risk profile I decide. Is there better options, I…
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A case for bonds?
Hi all I'm new to investing. I'm hoovering up as much educational info online as I can manage and I understand that for my portfolio to be truly diversified across all asset classes, it would be prudent to have some exposure to bonds. My current portfolio is this: 69% Equities (global ETF) 20% Gold (physical vaulted) 10%…
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Private Equity
Hello - Does anyone on here (who doesn't own their own private jet) have an allocation to any private equity? I've been considering a small allocation over the last few weeks and months but am yet to make a move, mostly because the options of doing so are quite thin. If there are - why did you introduce it into your…
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Bond ETF suggestions
The bulk of my ISA holdings is now in Vanguard VEVE and a few other equity funds/stocks. I'm looking to start building up a more defensive 20% in my portfolio to reduce volatility and looking for ideas of suitable ETFs to hold long-term, probably bond ETFs, but open to other suggestions too, e.g. gold
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Cost effective way of selling LBG shares
I'm currently doing some housekeeping on finances and have the following query: I hold a small number of LBG shares held with Equiniti (around £120). My understanding is that they would charge a minimum of £45 to sell these, which seems disproportionate. Does anyone have a view on the most cost effective way to sell these?…
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Buying ACWI
In another thread, a couple of people recommended ACWI as the cheapest ETF for the global stockmarket. I'm somewhat uncertain about how to buy it though. Searching directly for ACWI finds an IShares fund with a substantially higher expense ratio, albeit (I think) tracking the same index. If I search on Interactive Brokers…
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Cahoot Savings
I was thinking of putting a lump sum into a Cahoot Savings Account. I was filling in the online form and was called away from the computer just as I saw they want to know monthly income and was timed out on my return. I don't have a problem about putting monthly income but I have never come across this before with any…
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1 year or 2 year fixed rate income bond
My current bond is maturing soon . What's your thoughts on 1 year fixed bond or longer I can get just over 4% on a 1 year or 2 year fixed bond . Or do you think I should go for an investment instead I'm in my mid 70s and do not like risk
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House sale funds - Savings/investment advice
This week we sold our family home following our 92 year old mother with dementia moving into a private care home. The 920k proceeds are currently sitting in her bank account. My sister & I both have POA & are conscious that within the next 6 months we need to move the funds & spread out across a series of min 8…
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Is A Financial Advisor My Best Option?
Hi All, I have recently bought a new home that is currently undergoing some repairs. I hope to move in at the end of September. I have not yet put my current home on the market, but a quick discussion with the estate agent has prompted the idea of renting it out. Due to having a second home, I have had to pay a tax of £14k…
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Virgin money
Have got the virgin money current account with the linked savings account whereby you can create savings pots. Problem is, money keeps either moving in or our of the pots into not allocated. Anyone else have this problem, its frustrating & somewhat renders the account useless when I put money into a pot, then for some…
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Index linked gilt tax question
For ilg are both the indexed linked element of the coupon and the index linked element of the gain both untaxed. So is a low coupon ilg roughly equivalent a normal gilt in regards to reducing overall tax on interest when compared to regular cash savings accts...?
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HL Active Savings
I'm looking to get peoples thoughts on the HL Active Savings account. I already have a SIPP with HL but have also got money sitting in my bank's savings account earning a very small amount of interest. I was considering putting £10k of that into an Active Savings account because of the ease of moving from one savings…
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HMRC - Payments on account
HMRC state on their tax return "If your 2 payments on account turn out to be different from your 2025 to 2026 tax bill HMRC will: • credit you with interest if you've paid more than you needed to • charge interest if you've paid less than you needed to" I can understand the first bullet point if they've over charged me but…
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Tax Due On Savings Interest.
I’m confused about tax due on savings interest received in 2024/2025. I was registered for Self Assessment and submitted a tax return for 2023/2024. My circumstances changed for 2024/2025 and I informed HMRC recently that I didn’t need to submit a tax return for the last tax year 2024/2025. However, I informed them that I…
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Premium Bond Winner ?
im interested in winning premium bond holders , or not as the case may be , please post your winnings and holding as well as length of time held , i have a theory that newer bonds win more prizes , id prefer not to make this a discussion area of that arguement but i would be interested in your winnings just a bit of…
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