Fix now or wait for new ISA year?

rothers

Hi all,

I am going to fill both my mine and my wife’s ISAs up to the £20k max, I have some more cash that I don’t want to invest but I don’t know whether to put it in a fixed rate saving account now or wait until April when I can get another ISA any thoughts?

I will be paying tax on any additional savings hence my thoughts about waiting until April. 

Edit: The extra that I have to save is currently in the Santander 2.75% easy access account

Albermarle

Currently there is little difference between ISA savings rates and non ISA savings rate minus 20% tax. So your decision more hinges on your thoughts about where savings rates might be in 5 months time compared to now.
Although with the ISA you do not have to worry about HMRC getting your tax right.

rothers

Albermarle said:

Currently there is little difference between ISA savings rates and non ISA savings rate minus 20% tax. So your decision more hinges on your thoughts about where savings rates might be in 5 months time compared to now.
Although with the ISA you do not have to worry about HMRC getting your tax right.

That’s the problem Albermarle, I don’t know where they may be! 😁