The Top Regular Savers Discussion Thread

s71hj

slinger2 said:

happybagger said:

wiseonesomeofthetime said:

s71hj said:

surreysaver said:

flaneurs_lobster said:

subjecttocontract said:

Why?
* Maxing out an isa before tax year end is the last chance to do it.
* Temporary cash flow problem suggests money 'borrowed' from reg savers could be replaced later in April.
Simples.

s71hj said:

So I could get my ISA allowance up to the £20000 limit in this tax year which makes sense in the longer term for my situation. I have a 90 day account maturing on the 10th but that money would be too late for this tax year 

I understand the mechanism, just not seeing the underlying reason in meaningful financial advantage terms.

Is it not moving £10k earning 6% to ISA(s) earning something similar albeit tax-free for a few days? The increase in earnings will be what? A tenner?

I've got a flexible ISA and a flexible mortgage. Take money out of the flexible mortgage this week, put it into the flexible ISA and move the money back next week.
It allows me to max my ISA every tax year and carry that allowance over, so when I've got the cash it allows me to earn interest tax free

So can money be put in say today up to the 20000 max for this tax year, then withdrawn and does that secure that as isa allowance I could put money in in a subsequent tax year in excess of that tax year's £20000?

If it is a flexible ISA then you can withdraw money and replace it in the same ISA and in the same tax year without it affecting your £20,000 new money allowance.

If you top up today, and withdraw today, then you will not have that bridge for 2025/26 to replace the withdrawn funds as the transactions are in different tax years.

Hope that makes sense.

Must admit that was my understanding - only in the same tax year could withdrawn ISA subscriptions be replaced, if the isa was "flexible" Others seem to think differently. Hopefully someone can come up with the definitive tax manual answer

You say "only in the same tax year could withdrawn ISA subscriptions be replaced," It's nothing to do with "subscriptions". With a flexible ISA you can withdraw MONEY and replace it in the same tax year without it affecting your annual allowance. Doesn't matter where that money came from, new money, old money, interest, transfers in, etc.

So if I put £5000 in today and take it out tomorrow I'll be able to put £25000 in from tomorrow up to and including 5th April 2026?

pecunianonolet

s71hj said:

slinger2 said:

happybagger said:

wiseonesomeofthetime said:

s71hj said:

surreysaver said:

flaneurs_lobster said:

subjecttocontract said:

Why?
* Maxing out an isa before tax year end is the last chance to do it.
* Temporary cash flow problem suggests money 'borrowed' from reg savers could be replaced later in April.
Simples.

s71hj said:

So I could get my ISA allowance up to the £20000 limit in this tax year which makes sense in the longer term for my situation. I have a 90 day account maturing on the 10th but that money would be too late for this tax year 

I understand the mechanism, just not seeing the underlying reason in meaningful financial advantage terms.

Is it not moving £10k earning 6% to ISA(s) earning something similar albeit tax-free for a few days? The increase in earnings will be what? A tenner?

I've got a flexible ISA and a flexible mortgage. Take money out of the flexible mortgage this week, put it into the flexible ISA and move the money back next week.
It allows me to max my ISA every tax year and carry that allowance over, so when I've got the cash it allows me to earn interest tax free

So can money be put in say today up to the 20000 max for this tax year, then withdrawn and does that secure that as isa allowance I could put money in in a subsequent tax year in excess of that tax year's £20000?

If it is a flexible ISA then you can withdraw money and replace it in the same ISA and in the same tax year without it affecting your £20,000 new money allowance.

If you top up today, and withdraw today, then you will not have that bridge for 2025/26 to replace the withdrawn funds as the transactions are in different tax years.

Hope that makes sense.

Must admit that was my understanding - only in the same tax year could withdrawn ISA subscriptions be replaced, if the isa was "flexible" Others seem to think differently. Hopefully someone can come up with the definitive tax manual answer

You say "only in the same tax year could withdrawn ISA subscriptions be replaced," It's nothing to do with "subscriptions". With a flexible ISA you can withdraw MONEY and replace it in the same tax year without it affecting your annual allowance. Doesn't matter where that money came from, new money, old money, interest, transfers in, etc.

So if I put £5000 in today and take it out tomorrow I'll be able to put £25000 in from tomorrow up to and including 5th April 2026?

If the ISA is flexible and the payment is credited today (some providers have cut off times) you can. Better get that payment in asap. 

Kim_13

s71hj said:

slinger2 said:

happybagger said:

wiseonesomeofthetime said:

s71hj said:

surreysaver said:

flaneurs_lobster said:

subjecttocontract said:

Why?
* Maxing out an isa before tax year end is the last chance to do it.
* Temporary cash flow problem suggests money 'borrowed' from reg savers could be replaced later in April.
Simples.

s71hj said:

So I could get my ISA allowance up to the £20000 limit in this tax year which makes sense in the longer term for my situation. I have a 90 day account maturing on the 10th but that money would be too late for this tax year 

I understand the mechanism, just not seeing the underlying reason in meaningful financial advantage terms.

Is it not moving £10k earning 6% to ISA(s) earning something similar albeit tax-free for a few days? The increase in earnings will be what? A tenner?

I've got a flexible ISA and a flexible mortgage. Take money out of the flexible mortgage this week, put it into the flexible ISA and move the money back next week.
It allows me to max my ISA every tax year and carry that allowance over, so when I've got the cash it allows me to earn interest tax free

So can money be put in say today up to the 20000 max for this tax year, then withdrawn and does that secure that as isa allowance I could put money in in a subsequent tax year in excess of that tax year's £20000?

If it is a flexible ISA then you can withdraw money and replace it in the same ISA and in the same tax year without it affecting your £20,000 new money allowance.

If you top up today, and withdraw today, then you will not have that bridge for 2025/26 to replace the withdrawn funds as the transactions are in different tax years.

Hope that makes sense.

Must admit that was my understanding - only in the same tax year could withdrawn ISA subscriptions be replaced, if the isa was "flexible" Others seem to think differently. Hopefully someone can come up with the definitive tax manual answer

You say "only in the same tax year could withdrawn ISA subscriptions be replaced," It's nothing to do with "subscriptions". With a flexible ISA you can withdraw MONEY and replace it in the same tax year without it affecting your annual allowance. Doesn't matter where that money came from, new money, old money, interest, transfers in, etc.

So if I put £5000 in today and take it out tomorrow I'll be able to put £25000 in from tomorrow up to and including 5th April 2026?

Correct, but it must be put back into the exact account it was withdrawn from - you lose the £5,000 flexible allowance at the earlier of the date you transfer elsewhere or 6 April 2026.

Check your provider’s funding deadlines to check you can get the £5,000 credited today, if it is credited tomorrow that would be 25/26’s allowance anyway - and I would probably leave it until Monday to withdraw to ensure that £5,000 doesn’t spend Sunday earning no interest.

s71hj

Kim_13 said:

s71hj said:

slinger2 said:

happybagger said:

wiseonesomeofthetime said:

s71hj said:

surreysaver said:

flaneurs_lobster said:

subjecttocontract said:

Why?
* Maxing out an isa before tax year end is the last chance to do it.
* Temporary cash flow problem suggests money 'borrowed' from reg savers could be replaced later in April.
Simples.

s71hj said:

So I could get my ISA allowance up to the £20000 limit in this tax year which makes sense in the longer term for my situation. I have a 90 day account maturing on the 10th but that money would be too late for this tax year 

I understand the mechanism, just not seeing the underlying reason in meaningful financial advantage terms.

Is it not moving £10k earning 6% to ISA(s) earning something similar albeit tax-free for a few days? The increase in earnings will be what? A tenner?

I've got a flexible ISA and a flexible mortgage. Take money out of the flexible mortgage this week, put it into the flexible ISA and move the money back next week.
It allows me to max my ISA every tax year and carry that allowance over, so when I've got the cash it allows me to earn interest tax free

So can money be put in say today up to the 20000 max for this tax year, then withdrawn and does that secure that as isa allowance I could put money in in a subsequent tax year in excess of that tax year's £20000?

If it is a flexible ISA then you can withdraw money and replace it in the same ISA and in the same tax year without it affecting your £20,000 new money allowance.

If you top up today, and withdraw today, then you will not have that bridge for 2025/26 to replace the withdrawn funds as the transactions are in different tax years.

Hope that makes sense.

Must admit that was my understanding - only in the same tax year could withdrawn ISA subscriptions be replaced, if the isa was "flexible" Others seem to think differently. Hopefully someone can come up with the definitive tax manual answer

You say "only in the same tax year could withdrawn ISA subscriptions be replaced," It's nothing to do with "subscriptions". With a flexible ISA you can withdraw MONEY and replace it in the same tax year without it affecting your annual allowance. Doesn't matter where that money came from, new money, old money, interest, transfers in, etc.

So if I put £5000 in today and take it out tomorrow I'll be able to put £25000 in from tomorrow up to and including 5th April 2026?

Correct, but it must be put back into the exact account it was withdrawn from - you lose the £5,000 flexible allowance at the earlier of the date you transfer elsewhere or 6 April 2026.

Check your provider’s funding deadlines to check you can get the £5,000 credited today, if it is credited tomorrow that would be 25/26’s allowance anyway - and I would probably leave it until Monday to withdraw to ensure that £5,000 doesn’t spend Sunday earning no interest.

It's  a trading 212 cash isa.

Bridlington1

With it being the start of the new tax year soon there may be a handful of regular saver ISAs launched with reasonably good interest rates over the next few days.

Just a reminder that regular saver ISA accounts are not listed in this thread as these are listed in @Kazza242's long running Cash ISAs: The Best ISAs Currently Available List if any competitive ones emerge. If you wish to discuss the intricates of ISAs more widely you would likely be better off using the main cash ISAs thread.

That being said I intend to take a fairly laissez-faire approach when it comes to regular saver ISAs being mentioned in this thread as I do with many other topics.

AndyTh_2

Bridlington1 said:

With it being the start of the new tax year soon there may be a handful of regular saver ISAs launched with reasonably good interest rates over the next few days.

Just a reminder that regular saver ISA accounts are not listed in this thread as these are listed in @Kazza242's long running Cash ISAs: The Best ISAs Currently Available List if any competitive ones emerge. If you wish to discuss the intricates of ISAs more widely you would likely be better off using the main cash ISAs thread.

That being said I intend to take a fairly laissez-faire approach when it comes to regular saver ISAs being mentioned in this thread as I do with many other topics.

I used to ignore regular saver cash ISAs as they prevented us from adding more to cash ISAs, but you just reminded me they can be useful now since 6th April 2024 with the rule change can contribute to multiple.

flaneurs_lobster

AndyTh_2 said:

Bridlington1 said:

With it being the start of the new tax year soon there may be a handful of regular saver ISAs launched with reasonably good interest rates over the next few days.

Just a reminder that regular saver ISA accounts are not listed in this thread as these are listed in @Kazza242's long running Cash ISAs: The Best ISAs Currently Available List if any competitive ones emerge. If you wish to discuss the intricates of ISAs more widely you would likely be better off using the main cash ISAs thread.

That being said I intend to take a fairly laissez-faire approach when it comes to regular saver ISAs being mentioned in this thread as I do with many other topics.

I used to ignore regular saver cash ISAs as they prevented us from adding more to cash ISAs, but you just reminded me they can be useful now since 6th April 2024 with the rule change can contribute to multiple.

Agreed they would be useful,  but I don't think there are any on the market currently?

Archerychick

flaneurs_lobster said:

AndyTh_2 said:

Bridlington1 said:

With it being the start of the new tax year soon there may be a handful of regular saver ISAs launched with reasonably good interest rates over the next few days.

Just a reminder that regular saver ISA accounts are not listed in this thread as these are listed in @Kazza242's long running Cash ISAs: The Best ISAs Currently Available List if any competitive ones emerge. If you wish to discuss the intricates of ISAs more widely you would likely be better off using the main cash ISAs thread.

That being said I intend to take a fairly laissez-faire approach when it comes to regular saver ISAs being mentioned in this thread as I do with many other topics.

I used to ignore regular saver cash ISAs as they prevented us from adding more to cash ISAs, but you just reminded me they can be useful now since 6th April 2024 with the rule change can contribute to multiple.

Agreed they would be useful,  but I don't think there are any on the market currently?

There are a few but the interest rates aren’t very appealing https://moneyfactscompare.co.uk/isa/regular-savings-isas/

gt94sss2

s71hj said:

Kim_13 said:

s71hj said:

slinger2 said:

happybagger said:

wiseonesomeofthetime said:

s71hj said:

surreysaver said:

flaneurs_lobster said:

subjecttocontract said:

Why?
* Maxing out an isa before tax year end is the last chance to do it.
* Temporary cash flow problem suggests money 'borrowed' from reg savers could be replaced later in April.
Simples.

s71hj said:

So I could get my ISA allowance up to the £20000 limit in this tax year which makes sense in the longer term for my situation. I have a 90 day account maturing on the 10th but that money would be too late for this tax year 

I understand the mechanism, just not seeing the underlying reason in meaningful financial advantage terms.

Is it not moving £10k earning 6% to ISA(s) earning something similar albeit tax-free for a few days? The increase in earnings will be what? A tenner?

I've got a flexible ISA and a flexible mortgage. Take money out of the flexible mortgage this week, put it into the flexible ISA and move the money back next week.
It allows me to max my ISA every tax year and carry that allowance over, so when I've got the cash it allows me to earn interest tax free

So can money be put in say today up to the 20000 max for this tax year, then withdrawn and does that secure that as isa allowance I could put money in in a subsequent tax year in excess of that tax year's £20000?

If it is a flexible ISA then you can withdraw money and replace it in the same ISA and in the same tax year without it affecting your £20,000 new money allowance.

If you top up today, and withdraw today, then you will not have that bridge for 2025/26 to replace the withdrawn funds as the transactions are in different tax years.

Hope that makes sense.

Must admit that was my understanding - only in the same tax year could withdrawn ISA subscriptions be replaced, if the isa was "flexible" Others seem to think differently. Hopefully someone can come up with the definitive tax manual answer

You say "only in the same tax year could withdrawn ISA subscriptions be replaced," It's nothing to do with "subscriptions". With a flexible ISA you can withdraw MONEY and replace it in the same tax year without it affecting your annual allowance. Doesn't matter where that money came from, new money, old money, interest, transfers in, etc.

So if I put £5000 in today and take it out tomorrow I'll be able to put £25000 in from tomorrow up to and including 5th April 2026?

Correct, but it must be put back into the exact account it was withdrawn from - you lose the £5,000 flexible allowance at the earlier of the date you transfer elsewhere or 6 April 2026.

Check your provider’s funding deadlines to check you can get the £5,000 credited today, if it is credited tomorrow that would be 25/26’s allowance anyway - and I would probably leave it until Monday to withdraw to ensure that £5,000 doesn’t spend Sunday earning no interest.

It's  a trading 212 cash isa.

Check they accept deposits on weekends before doing this. They may not.

s71hj

gt94sss2 said:

s71hj said:

Kim_13 said:

s71hj said:

slinger2 said:

happybagger said:

wiseonesomeofthetime said:

s71hj said:

surreysaver said:

flaneurs_lobster said:

subjecttocontract said:

Why?
* Maxing out an isa before tax year end is the last chance to do it.
* Temporary cash flow problem suggests money 'borrowed' from reg savers could be replaced later in April.
Simples.

s71hj said:

So I could get my ISA allowance up to the £20000 limit in this tax year which makes sense in the longer term for my situation. I have a 90 day account maturing on the 10th but that money would be too late for this tax year 

I understand the mechanism, just not seeing the underlying reason in meaningful financial advantage terms.

Is it not moving £10k earning 6% to ISA(s) earning something similar albeit tax-free for a few days? The increase in earnings will be what? A tenner?

I've got a flexible ISA and a flexible mortgage. Take money out of the flexible mortgage this week, put it into the flexible ISA and move the money back next week.
It allows me to max my ISA every tax year and carry that allowance over, so when I've got the cash it allows me to earn interest tax free

So can money be put in say today up to the 20000 max for this tax year, then withdrawn and does that secure that as isa allowance I could put money in in a subsequent tax year in excess of that tax year's £20000?

If it is a flexible ISA then you can withdraw money and replace it in the same ISA and in the same tax year without it affecting your £20,000 new money allowance.

If you top up today, and withdraw today, then you will not have that bridge for 2025/26 to replace the withdrawn funds as the transactions are in different tax years.

Hope that makes sense.

Must admit that was my understanding - only in the same tax year could withdrawn ISA subscriptions be replaced, if the isa was "flexible" Others seem to think differently. Hopefully someone can come up with the definitive tax manual answer

You say "only in the same tax year could withdrawn ISA subscriptions be replaced," It's nothing to do with "subscriptions". With a flexible ISA you can withdraw MONEY and replace it in the same tax year without it affecting your annual allowance. Doesn't matter where that money came from, new money, old money, interest, transfers in, etc.

So if I put £5000 in today and take it out tomorrow I'll be able to put £25000 in from tomorrow up to and including 5th April 2026?

Correct, but it must be put back into the exact account it was withdrawn from - you lose the £5,000 flexible allowance at the earlier of the date you transfer elsewhere or 6 April 2026.

Check your provider’s funding deadlines to check you can get the £5,000 credited today, if it is credited tomorrow that would be 25/26’s allowance anyway - and I would probably leave it until Monday to withdraw to ensure that £5,000 doesn’t spend Sunday earning no interest.

It's  a trading 212 cash isa.

Check they accept deposits on weekends before doing this. They may not.

It went in instantly which is great.