Regular Savings Accounts: The Best Currently Available List!

glider3560

mhoc wrote: »

No I didn't realise about this £2000 of non earned income for former students - is this everything - savings interest, share dividend, even ebay, amazon and car boot sales ????
I have 2 with student loans so this is relevant to them.

Unearned income is things like savings interest, dividends, rental income. Ebay, Amazon and car boot sales are all considered earned and should be declared either as a one-off or through self employment (assuming it is done for a profit and not just selling their old junk).

someone

mhoc wrote: »

No I didn't realise about this £2000 of non earned income for former students - is this everything - savings interest, share dividend, even ebay, amazon and car boot sales ????

Some basic info from the Chartered Institute of Taxation , with more details on taxation.co.uk. The actual law on the matter is on legislation.gov.uk

It only applies if you are required to complete a self assessment (self employed, director) so I think the main reason the rule exists is to prevent abuse of dividend payments to avoid SLC repayments.

Of course ISAs are not declared on self assessments so should be used by student loan repayers who may exceed the £2k unearned income threshold and do/may need to complete a SA.

:money:

IanManc

eskbanker wrote: »

The personal savings allowance didn't come about because HMRC couldn't be bothered collecting it - it was a conscious government policy decision to offer an incentive to savers....

....... and because the Scottish Parliament got powers over income tax starting in 2016/17, and the Welsh Assembly is to get powers over income tax from April 2019, so it became impractical to have a system based on savings institutions deducting income tax from interest at source, as the tax rates will be set by three different parliaments in future, and banks and building societies would have had to identify their customers as being domiciled in England or Northern Ireland for Westminster tax rates, or as domiciled for tax purposes in Wales or Scotland for the tax rates set by their governments, and they'd have had to keep up to date with their customers current tax domicile every year. And being domiciled for tax purposes isn't just simply based on where you currently live.

castle96

Account Balance: £ 250.00Available to Withdraw: £ 200.00

Re Leeds Issue 6. Money still sitting there (I have issue 5 as well). True Colsten. There is no facility to withdraw online. Wonder what they will do, and when. ( I didn't mean they woldn't notice me withdrawing it, I meant that they would leave it as is.

colsten

castle96 - I'd just keep my head down and not raise sleeping dogs.

AirlieBird

patientperson wrote: »

Branch Issue 5 is no longer shown on the Virgin website.

I noticed this last Wednesday (2nd August).

I was, however, still able to open this version at a branch on the 3rd August. I am not sure how long it will still be available.

Perhaps a new Issue one on the horizon?.

Neil_Jones wrote: »

It doesn't show up in the "Previously offered" section of the website either so it may unofficially still be available. It's only been around for three weeks, the shortest of all the branch regular savers to date.

Branch Regular Saver 4 was on offer for 65 days, Branch Reg Saver 3 for 54, Branch Reg Saver 2 for 65 days and Branch Reg Saver 1 for 47.

It hasn't been withdrawn. Virgin have removed all their branch operated accounts from their website where there is an equivalent online operated account. Whether it is to simplify the offering on their website, or a part of their strategy as they move towards their new digital banking platform, I'm not sure.

Westie983

AirlieBird wrote: »

It hasn't been withdrawn. Virgin have removed all their branch operated accounts from their website where there is an equivalent online operated account. Whether it is to simplify the offering on their website, or a part of their strategy as they move towards their new digital banking platform, I'm not sure.

Good news as I have an appointment to see them coming up :-)

uptdale

I see that Tesco has increased the rate to 1.16%, but you only get it on new accounts, not on accounts you already have. So if you opened your account between 29 June and 10 August you still only get 1.11%, and if you opened it between 5 May and 28 June you only get 1.06%, and so on.

Worth opening a new account, at least for any new deposits. You also reset the 12 months for the introductory bonus element.

adindas

AirlieBird wrote: »

It hasn't been withdrawn. Virgin have removed all their branch operated accounts from their website where there is an equivalent online operated account. Whether it is to simplify the offering on their website, or a part of their strategy as they move towards their new digital banking platform, I'm not sure.

Westie983 wrote: »

Good news as I have an appointment to see them coming up :-)

I went to their branch in London Haymark August 2, 2017. The appointment was made more than a week ago. The adviser I met which seems to me a newbie, start searching the product from their website. She later said she could not open it because she could not find it online. This is contradictory to another person experience.

patientperson wrote: »

Branch Issue 5 is no longer shown on the Virgin website.
I noticed this last Wednesday (2nd August).
I was, however, still able to open this version at a branch on the 3rd August. I am not sure how long it will still be available.
Perhaps a new Issue one on the horizon?.

Another evidence that she is clueless newbie; she even told me, next time in order not to miss a branch RSA ask to open it over the phone, could you believe that !!!!!!. I replied to her If I could open it over the phone I would have done it a week ago and no need to waste my time to come here. I know quite a few people in this MSE do not believe that you could still find such kind of person working in banking industry. But my personal experience tell me otherwise.

I wonder, does anyone manage to open this Branch RS Branch after August 3, or even until today ?

Special_Saver2

Hi Everybody,

I cannot find anything that has changed for this weekend's update.

I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1