Best option for saving £100 per month?

Spud_2

I'm guessing an ISA but I wondered if I'm missing anything? This is for a higher rate tax payer.

Any suggestions and ideas would be gratefully received.

Thanks.

ReportInvestor

Yes. If it's your first or main savings then a mini-cash ISA would be ideal as you can get tax free interest and save up to £3K pa.

If you already have a savings nest egg and want to branch out into the stock market then a stocks and shares ISA also gets you useful tax relief as a higher rate taxpayer, especially if you choose income funds. You can put up to £4K pa in a mini-stocks and shares ISA.

The government has agreed to keep these savings limits until April 2010.

black-saturn

I save at least £100 per month and I have a mini cash isa. It works wonderfully and you can withdraw the money whenever you like.