Mother in law's savings

BooJewels

Stargunner said:

It would also depend on whether the MIL is ok with using online banking, because some older people will only use branch based savings accounts.

To add to that, it might also depend if the MIL will open and operate the account for herself or if the OP will be doing so on her behalf under the authority of an LPA.  Some savings companies allow LPA operated accounts, some positively don't - so that would need to be checked too - even if not an issue now, it might well become an issue in future.

onthemend

onthemend said:

hi Everyone

I would like some advice

mother in law has put full 20k in an ISA this tax year, but has got 100k in a Barclays savings a/c at a pathetic 1%. what would be the best options/ a/cs to move these funds to get better interest, we know there will be tax to pay.  Easy access will need to be kept.

Any suggestions would be welcome.

Just to add, she currently is pensioned and pays tax on these earnings.

xylophone

Just to add, she currently is pensioned and pays tax on these earnings.

Then she should check 

https://www.gov.uk/apply-tax-free-interest-on-savings

More savings rates here

https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html