£50 Cashback with NatWest or RBS Invest

Asghar

Thanks for all the information, it's been very helpful.

Just now need to work out which of the two are easier to manage when completing a self assessment next year, interest or dividend?

Or are they much the same. Will be investing out of an ISA, alreading contributed to one during the market downturn in April.

bigadaj

It may not make a lot of difference if you are investing small amounts, what people would consider the lower risk options contain a higher bond weighting and are treated as interest, higher risk equity heavy portfolios are treated as dividends. People have a £1000 allowance for interest (£500 for higher rate taxpayers) and a £2000 dividend allowance, so below those amounts you won't actually pay any tax and won't have to declare unless you do a tax return anyway.

ischris85

Just to note on this, I couldnt see anyway to delay the first monthly contribution. Anyway I have set it to end of the month contributions.

colsten

ischris85 said:

Just to note on this, I couldnt see anyway to delay the first monthly contribution. Anyway I have set it to end of the month contributions.

You can "Stop monthly contributions for this investment", and then put it back to £50 a month in August.

ischris85

colsten said:

ischris85 said:

Just to note on this, I couldnt see anyway to delay the first monthly contribution. Anyway I have set it to end of the month contributions.

You can "Stop monthly contributions for this investment", and then put it back to £50 a month in August.

Thank you Colsten. Hopefully that doenst break the below term

"you don’t cancel your regular monthly contribution instruction at any point before 1 November 2020"

Update - in case anyone has made the same mistake
I phoned Natwest Invest today and they said it should still be eligible for the cashback as along as I make my first regular contribution by 31st August.

colsten

ischris85 said:

colsten said:

ischris85 said:

Just to note on this, I couldnt see anyway to delay the first monthly contribution. Anyway I have set it to end of the month contributions.

You can "Stop monthly contributions for this investment", and then put it back to £50 a month in August.

Thank you Colsten. Hopefully that doenst break the below term

"you don’t cancel your regular monthly contribution instruction at any point before 1 November 2020"

Not worth the risk chancing it then

ischris85

Too late I read it afterwards my fault

colsten

Crumbs. May be contact them to clarify? As there might be no point continuing with the offer. You should have a 14 day cooling-off period.

Rollinghome

ischris85 said:

Just to note on this, I couldnt see anyway to delay the first monthly contribution. Anyway I have set it to end of the month contributions.

You can still Edit the payment day so long as you set up regular monthly contributions by 31 July.  So before then you can change the payment day to the previous day and the payment won't be made for almost a month. So on 30 July you could change the payment day to 29th (or probably to 30th) and the first payment will be on 29 August.

schiff

Most people will know that their CGs for the year will almost certainly be below the annual limit of £12,300 so no need for keeping records of CGs.