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Cost effectiveness of putting cash into H&L S&S ISA
wombat42_2
Posts: 1,312 Forumite
I think that as cash put into H&L S&S ISA is tax free the rate is comparible with, say, ICICI at 6.41% before tax. Would you consider parking some cash with H&L S&S ISA even if you were not sure you would ever convert the cash to S&S ?
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Are you sure H-L pay that sort of rate?
The only reason to keep cash with a S&S provider is if you sold but wish to keep the money in an ISA until you were ready to invest again.0 -
The cash held on account isn't tax free according to their website:I think that as cash put into H&L S&S ISA is tax free the rate is comparible with, say, ICICI at 6.41% before tax. Would you consider parking some cash with H&L S&S ISA even if you were not sure you would ever convert the cash to S&S ?
http://www.h-l.co.uk/our_services/interest_rates_isa.hl
It's awful for saving cash, so I would suggest not bothering!I am a Chartered Financial Planner
Anything I say on the forum is for discussion purposes only and should not be construed as personal financial advice. It is vitally important to do your own research before acting on information gathered from any users on this forum.0 -
Oh dear.............. Wombie, Wombie........ Cash held in any Maxi / S&S ISA is taxed, as per government regs. The main advantage is that you can switch between S&S and cash (like now, for instance).I think that as cash put into H&L S&S ISA is tax free the rate is comparible with, say, ICICI at 6.41% before tax. Would you consider parking some cash with H&L S&S ISA even if you were not sure you would ever convert the cash to S&S ?
cloud_dogPersonal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
Index linked and other bonds look like the best defensive area at the moment.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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The Fixed Income markets are going to crash pretty soon'In nature, there are neither rewards nor punishments - there are Consequences.'0
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Couldn't agree more, purch. Corporate bonds are a disaster waiting to happen IMO.
Wombat, gilts are a fair bet in a S&S ISA - ISA-eligible gilts are yielding a little over 4%. Not a substitute for a cash ISA though.0
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