End of 06/07 Financial Year Mini Cash ISA Discussion Area

LoveyB

We have bought an Apple mac for work.
We paid £500 deposit, and we have to repay £4000 in September.What would be the best way to save this?
I was thinking of putting £1000 in by April the 5th and then maybe £500 a month after that. We already have our mortgage with the NewcastleBS. What do you think?

jyonda

you get a 3 grand isa limit a year so if you have 3k stick it all in NOW. Then after April put anything else in. By the time you come to pay off the apple in September you may be able to pay it off with other money so you can just leave it all there earning interest tax free. If not you can take it out anyway.

What I would do is not bother and buy premium bonds instead then cash them in on September 1st. You may win a million! Most likely 50 quid or nothing though.

jmfwilts

Just to let you know I printed the online application form, and went into a Barclays branch with my ID. The whole process in branch took less than 5 minutes. I have opened up an account for 2007-08 tax year. I will update how smooth the rest of the process is.

stuartw101

Im thinking about opening a cash isa account. I haven't previously had one, i am willing to put it £3,000. I was just wondering whether barclays are my best option? Also after a year will i be able to move my money from this account to another cash isa account providing the bank accepts transfers from other bank isa accounts?

Hope you can help, i have been meaning to finally get a cash isa but have been unsure about it.

Thanks

Stu

MajorR

MillzE wrote: »

Yet another question! (I suspect a very easy one)

I am looking to start an ISA for the first time, the barclays sounds the best at the moment so:

Since I have not used my 3k allowance this tax year, then add another 3k into the account after 6th april?

Being a newbie to ISAs I'm not sure if this is possible and whether it is actually the right thing to do?? (ie. would I be getting 6.5% on 6k?)

Thanks in advance!

Matt

The last question by this OP hasn't been answered, does a person get 6.5% on 6k if they open a barclays ISA before the end of this tax year, then adding a further 3k after april 5th.

jem16

MajorR wrote: »

The last question by this OP hasn't been answered, does a person get 6.5% on 6k if they open a barclays ISA before the end of this tax year, then adding a further 3k after april 5th.

Yes they would but only after a year - i.e. interest would be paid on April 5th 2008.

charlie_m_4

hi everyone,

need some help I have £6000 in a Lloyds tsb mini cash ISA earning a pitiful 4.85% and I am not sure if I should transfer the money to another ISA e.g. the ing direct or open a new ISA e.g. Barclays.

I’m just not sure what the best thing to do is.

If anybody can help please do.



Thanx:D

masonic

charlie_m wrote: »

I’m just not sure what the best thing to do is.

Do both. Transfer your existing funds to higher paying account and open a new ISA for 2007/8 to take advantage of the top paying accounts that don't accept transfers. By the way, ING do not accept transfers.

Riviera_Kid

stuartw101 wrote: »

Im thinking about opening a cash isa account. I haven't previously had one, i am willing to put it £3,000. I was just wondering whether barclays are my best option? Also after a year will i be able to move my money from this account to another cash isa account providing the bank accepts transfers from other bank isa accounts?

Hope you can help, i have been meaning to finally get a cash isa but have been unsure about it.

Thanks

Stu

The answer to your two questions is yes

charlie_m_4

thanx for the advice but i thought i you could only have one ISA