5K to invest...

in Savings & Investments
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  • DiggingOutDiggingOut Forumite
    770 Posts
    Just in case it isn't clear, you can either have a maxi ISA or mini ISAs (but not both) in any one year.

    A maxi ISA is shares, with a £7K limit. If you do this, you cannot do a cash mini-ISA.

    With mini-ISAs, you can do up to £3K in a mini cash ISA, up to £3K in a mini shares ISA, and up to £1K in an insurance ISA.

    So you can do exactly what you want in mini ISAs. Just make sure when you open the shares mini ISA that you specify that it is a mini ISA you want, not maxi ISA.
    I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.

    If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.

    Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?
  • dunstonhdunstonh Forumite
    109.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    Just in case it isn't clear, you can either have a maxi ISA or mini ISAs (but not both) in any one year.

    A maxi ISA is shares, with a £7K limit.  If you do this, you cannot do a cash mini-ISA.

    With mini-ISAs, you can do up to £3K in a mini cash ISA, up to £3K in a mini shares ISA, and up to £1K in an insurance ISA.

    So you can do exactly what you want in mini ISAs.  Just make sure when you open the shares mini ISA that you specify that it is a mini ISA you want, not maxi ISA.

    Well, for another 10 months that is and then its all change (again) ::)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • DiggingOutDiggingOut Forumite
    770 Posts

    Well, for another 10 months that is and then its all change (again)  ::)
    ;D ;D

    I think you IFAs have been bribing Gordon Brown to keep changing things. That way the rest of us can't figure out what is going on before things change -- so we need IFAs! ;)
    I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.

    If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.

    Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?
  • dunstonhdunstonh Forumite
    109.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭✭✭
    ;D ;D

    I think you IFAs have been bribing Gordon Brown to keep changing things.  That way the rest of us can't figure out what is going on before things change -- so we need IFAs! ;)

    LOL.

    Although the bribe couldnt have been that good.

    "Gordon, here is our bribe to you to reduce the benefits of PEPs/ISAs so they not really tax free but we can call them tax free and then promise they have a life of 10 years but then change them after 5 years just as everyone is getting used to what is already a complicated arrangement".
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • DiggingOutDiggingOut Forumite
    770 Posts

    Although the bribe couldnt have been that good.  

    Well, I suppose any IFA willing to invest much in THAT direction wouldn't be fit to give good advice. ;)
    I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.

    If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.

    Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?
  • SystemSystem Forumite, Community Admin
    177.9K Posts
    10,000 Posts Name Dropper
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    I am a Filipino living in the UK. (British)
    I have been told that if I am prepared to lock away my money in a 5 yr time deposit in Manila I can get rates with certain banks of up to 10%.tax free.. The problem is that my money would only be insured for up to £1000 or the equivelent. (in case of bank bankrupcy ect}
    I would be in the position of being able to invest £150,000 so you see why I may be nervous..
    Also,I would have to change my precious £`s to peso`s!! Frightens me to death!!

    Is there any investments in the U.K that come`s anywhere near 10% (tax free) ?? If so..Is the interest available to me on lets say a monthly basis??
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