Which to fill first.

badger09

robotrobo wrote: »

For someone who is a non tax payer, and is certain they will never need to pay income tax, a cash ISA is pretty much pointless at current rates. An S&S ISA might make sense if a larger investment can be made.

not quite sure that this statement applies to everyone.

my wife is a non tax payer as she does not earn more than her personal allowance , so its great when the tax man exempts her from all the , toisas , isas, nisas, that she has accumalated since 1990, she could have £100,000 in the bank & still be a non taxpayer,as long as she does not earn above the personal allowance.

With respect robotrobo, you have quoted only part of Archi Bald's response , so for completeness and as we are now on page 2 here it is in full

Archi_Bald wrote: »

Not 5%, but lots at 3 and 4%, which will all pay more than a cash ISA for the OP.

this needs qualifying.

If the total savings are less than £15K, which for the vast majority of people it is, having any money in a cash ISA is seriously not a good idea.

If the total savings are more than £15K, there is still no point in putting any new money into a cash ISA before end of March next year. The 2014-15 ISA allowance won't run away.

If the total savings are less than £50K, and there is a plan to spend them (e.g. on house deposit, car, holiday, wedding etc), putting any of it into a cash ISA is not a good idea.

For someone who is a non tax payer, and is certain they will never need to pay income tax, a cash ISA is pretty much pointless at current rates. An S&S ISA might make sense if a larger investment can be made.

In other cases, I agree, having money in ISA wrappers is a good idea.

Eco_Miser

robotrobo wrote: »

For someone who is a non tax payer, and is certain they will never need to pay income tax, a cash ISA is pretty much pointless at current rates. An S&S ISA might make sense if a larger investment can be made.

not quite sure that this statement applies to everyone.

my wife is a non tax payer as she does not earn more than her personal allowance , so its great when the tax man exempts her from all the , toisas , isas, nisas, that she has accumalated since 1990, she could have £100,000 in the bank & still be a non taxpayer,as long as she does not earn above the personal allowance.

Even so, at current rates, having a cash ISA is pretty pointless, when she could be getting considerably more in an S&S ISA, albeit with slightly more risk.

I've got about that much in ISAs, however only £10k is in cash, and that only until next May, when the last 5% fix comes to an end.