Maturing Accounts - where to park the cash?

vaultsman

Hi,

I have 2 accounts maturing at the end of this month, and I'm mulling over where to put the cash.

Halifax 2-Year Fixed Saver, approx. £42k
Santander 2-Year ISA, approx. £12k

Other Main Accounts:
Santander 123 Current Account, average balance £17k
2 x BoS Vantage Accounts, £5k each
Lloyds Vantage, now upgraded to Club Lloyds. 2 DD's now set up but current balance is nil.
Britannia 3-year Fixed Saver, approx £75k, maturing July 2015.

I'm retired but have approx £900 deferred monthly income until July 2015 from a sale of shares in 2012/2013. The CGT on this income has already been paid in full.

My gross annual income for this tax year is below the Personal Allowance, so all savings accounts are registered for gross interest.

I haven't yet used my 2014/2015 ISA allowance. I also have approx £10k in a share dealing account, and am somewhat reluctant to commit any further cash to stocks and shares.

I'd be interested to hear the views from more experienced and knowledgeable posters on here!

Many thanks for reading,

kidmugsy

You could use the TSB Plus account (two of) and the Nationwide FlexDirect (one of). You could use the Club regular monthly saver.

You could put transfer your £12k of ISA cash, plus a £15k subscription for 2014-15, into an S&S ISA and invest the lot into, say, a four-year Gilt. You could put some of the rest of your cash into an index-linked gilt that gives most of its return as inflation-uplift, which is tax-free for everyone, leaving only a little interest which you could expect to get tax-free too.

You might even, if you have a bank safety deposit near you, buy and store some gold sovereigns as a diversifier, and as an insurance against the travails of a fiat currency.

Heavens, if you want another tax shelter, why not contribute to a pension?

Can you tell us why you are reluctant to buy equities?