Help needed with isa

Geoff2012

Hi I'm new to all this and I need advice.

Hypothetically if I had a £20.000 for investing what would be the best way for a safe return.

InvesterJones

Investing and safe return are sort of at the opposite ends of things, depending on time scale - do you have time and the stomach to ride out a multi-year drop in value? Or is a drop in value unpalatable? If the latter, then savings are probably better than investments, though if time scales are long enough gilts are almost as safe.

masonic

"Safe" also means different things depending on time scale. If you want to put the money away for 30 years and not touch it, you'd pick something different than if you needed it in 3 years.

Albermarle

https://forums.moneysavingexpert.com/discussion/6680465/help-needed-with-isa

If you want the money to be 100% safe, then you need to put it in savings account( or Premium Bonds) .Suggest you read this.

Savings | MoneySavingExpert

UKTaxHelper

You might not need the wrapper at all yet. 20k of savings makes about 900 a year at current rates, which fits inside the personal savings allowance on basic rate. The case for using it is April 2027, when the cash ISA cap drops to 12k.

mrcrumb

Do you mean use it in April before the end of this tax year. However if the £20k goes in a cash ISA sooner then more interest will accrue inside the ISA.