How much can you save?

BabyDragon_2

May I ask a silly question please.....
If I didn't take advantage of my isa allawance for 06-07 can I not put £6000 in 07-08???

I presume this is correct and is some government thing but can someone confirm for me please???

And if so how would they know - if I open up another cash isa with a different company would they check and then not allow me to deposit???

I've heard of other people opening two in the same year and getting away with it???

gelato_cat

Nope. It's a case of use it or lose it...

When you open an ISA, the provider sends the details to HMRC.

Suze

BabyDragon wrote: »

May I ask a silly question please.....
If I didn't take advantage of my isa allawance for 06-07 can I not put £6000 in 07-08???

BabyDragon_2

Thanks Suzey, That answers my question thank you.

Tis a shame though I have to say.

ALso having looked at the list recommended by save-a-lot (Thank you) - I think I ought to transfer mine to something better - mine is earning a poor 5.46%

gelato_cat

It is a shame However, presumably this means you have £6k ready to save in an ISA? Why not max out your 2007-8 allowance now and your 2008-9 one right at the beginning of April?

5.46% is low, you should be earning at least high 5% if not low 6%. I was with Halifax for ages before I realised they were uncompetitive!

Suze

BabyDragon wrote: »

Thanks Suzey, That answers my question thank you.

Tis a shame though I have to say.

ALso having looked at the list recommended by save-a-lot (Thank you) - I think I ought to transfer mine to something better - mine is earning a poor 5.46%

BabyDragon_2

Yes I was just looking at the A&L @ 6.25% thats £21 a year extra!!!!
Hmmm although I have a fare chunk with them already and don't really want all my eggs in one basket so to speak - but I think it's pretty safe with them hey???

gelato_cat

Your first £35k is protected, but yeah, I would have thought they'd be safe enough with any sums larger than that.

Suze

BabyDragon wrote: »

Yes I was just looking at the A&L @ 6.25% thats £21 a year extra!!!!
Hmmm although I have a fare chunk with them already and don't really want all my eggs in one basket so to speak - but I think it's pretty safe with them hey???

McSaver

Im another saver that is about to use the full allowence of ISAs as I save more than enough to fill it every year. Shame I didnt understand them until last year overwise i would of had used them from around 5 years ago.

paulboy83

I've Finally decided on a target for my savings this year! I'm aiming for £6000, its going to be tough to meet as i'm moving and possibly changing jobs for one that isn't paid quite as well. I decided that I want to have £3600 ready for my isa by april next year if I can so i'm just gonna work hard at it to try and get there. I've made a good start so far so I think I can do it, i'm just gonna keep my fingers crossed I think :rotfl:

stacy

hey im looking at opening an cash mini isa just wondering if it matters wen u open an account like is there a recommeded date like april or nefin or jus open it wenva u want??

SaverRanger

stacy wrote: »

hey im looking at opening an cash mini isa just wondering if it matters wen u open an account like is there a recommeded date like april or nefin or jus open it wenva u want??

Open one now, put as much as you can into it before April 5th, up to £3k, then from April 6th you have a year to stash away as much of £3,600 as you possibly can, and all interest earned is tax free. Check out the best buy tables for the best rates.