Tag: Isas

Moneynet reveals top three savings accounts

Moneynet reveals top three savings accounts

Moneynet.co.uk has released its list of the top three savings accounts available to UK savers. The price comparison site said Barclays is best for regular savings, West Bromwich Building Society offers the top rate for fixed-rate accounts, and Barclays comes top for individual savings accounts. Barclays Monthly Saver pays a ‘cracking’ 6% AER fixed for […]

New ISA limits ‘all sizzle and no sausage’

New ISA limits ‘all sizzle and no sausage’

Government plans to help elderly savers by increasing the limit on tax-free savings will have little effect, a financial expert has warned. Kevin Mountford, savings expert at Moneysupermarket.com, said the increased limit on cash ISAs – from A?3,600 to A?5,100 – is worth a paltry A?1.89 in tax savings on interest payments. The A?1,500 increase […]

Moneyfacts reveals best performing ISAs

Moneyfacts reveals best performing ISAs

Moneyfacts.co.uk has revealed the top performing cash ISAs during 2008-09. “Unsurprisingly it was fixed rate cash ISAs that yielded some of the top returns,” said Michelle Slade, Moneyfacts.co.uk analyst. Alliance and Leicester’s (A&L) Premier ISA took first place, adding A?327.37 to a A?3,600 investment made on 6 April 2008. However, to qualify for the Premier […]

ISA limit increased to A?10,200

ISA limit increased to A?10,200

From April next year, savers will be able to earn tax-free interest on up to A?10,200 of savings following an increase to the ISA allowance. Chancellor Alistair Darling announced the change this week in his Budget speech, increasing both the cash savings and the investments limit from A?3,600 to A?5,100. Financial experts and high street […]

Darling announces tax rises in Budget

Darling announces tax rises in Budget

In todaya��s Budget, Chancellor of the Exchequer Alistair Darling said the country is suffering as the economy is in the midst of its worst year since World War II. In an attempt to drive the UK to recovery, the Chancellor unveiled a series of measures including tax rises and spending cuts. Those earning in excess […]

Nationwide calls for ISA review in Budget

Nationwide calls for ISA review in Budget

Nationwide Building Society has called on the government to review its approach to tax-free savings accounts in today’s Budget report. The UK’s biggest building society said Chancellor Alistair Darling should seek to foster a savings habit among Brits in his Budget proposals later today by making individual savings accounts (ISAs) more flexible and easier to […]

Virgin Money tells ISA savers to use it or lose it

Virgin Money tells ISA savers to use it or lose it

Savers disillusioned by low-interest rates should spread their tax-free ISA allowance across bonds and income-funds, Virgin Money said this week. With the Bank of England’s base rate at an all time low, Cash ISA interest rates offer meagre returns, hitting an average of 0.96% at the end of February. Meanwhile, the ongoing volatility of the […]

Saga launches two new ISAs

Saga launches two new ISAs

Saga Personal Finance has announced plans to launch two new ISA products on 1 April, paying interest at up to 2.95% tax free/AER. The One Year Fixed Rate Cash ISA pays annual interest at 2.95% tax free/AER, whilst the Saga One Year Fixed Rate Monthly Interest ISA pays interest at 2.91% tax free or 2.95% […]

Savings crisis engulfs Britain

Savings crisis engulfs Britain

Britain is engulfed in a ‘savings crisis’ with one in four adults having saved nothing in the past two years, new research by moneysupermarket.com has discovered. The poll also found that over a third (36%) of Brits now have less money in their savings than they did in 2007. Of those who are saving, just […]

Alliance & Leicester: ISAs are too complicated

Alliance & Leicester: ISAs are too complicated

Many people in the UK find individual savings accounts (ISAs) confusing, according to new research by Alliance & Leicester. The building society found that 71% of Brits did not know that the current Cash ISA allowance is A?3,600. One in five (19%) of those questioned believed that the allowance was still A?3,000. Nearly half of […]

Shift from borrowing to saving essential

Shift from borrowing to saving essential

The government must start encouraging the UK to save money, the Association of Independent Financial Advisers (AIFA) said yesterday. Chris Cummings, AIFA director-general, said it is vital that the government’s upcoming budget provides incentives for saving. With personal debt now above A?1.4 trillion, a sea-change in the UK’s approach to personal finance is ‘essential’, Cummings […]

Investment ISAs popular as interest rates plummet

Investment ISAs popular as interest rates plummet

Savers are increasingly turning to investment individual savings accounts (ISAs) as interest rates on cash ISAs continue to plummet. Research by Barclays shows a 67% rise in the number of investment ISAs opened recently compared to the same period in 2008. The bank also revealed that nearly half (45%) of investment ISA savers have already […]

Abbey launches 5.5% Super Direct ISA

Abbey launches 5.5% Super Direct ISA

Abbey has launched a new range of ISAs paying interest at up to 5.5%. The Santander-owned bank has unveiled three new individual savings accounts (ISAs) – the Reward ISA, the Direct ISA, and the Super Direct ISA. New savers can place up to A?3,600 in the Reward ISA, which pays interest at 1.5% plus a […]

ISAs best for savings despite falling interest rates

ISAs best for savings despite falling interest rates

ISAs are best for savings despite falling interest rates Savers should make the most of their money by saving in a tax free ISA, moenysupermarket.com said on Wednesday. Calculations by the price comparison site found that savers who have used their full ISA allowance for the past 10 years will be A?2,700 better off than […]

Chelsea improves its ISAs

Chelsea improves its ISAs

Chelsea Building Society has launched new ‘improved’ versions of its individual savings accounts (ISAs). Chelsea’s Postal 30 Cash ISA now has an annual interest rate of 3% for account balances over A?6,000, and 2.6% for lower balances. The Chelsea Cash ISA (2nd Issue) pays interest at 2% for balances over A?6,000, and 1.6% for lower […]

Brits disillusioned with saving

Brits disillusioned with saving

Almost three quarters (73%) of UK consumers believe the benefits of saving have fallen over the last year, according to new research by the Association of British Insurers (ABI). Only 7% of those questioned felt the benefits of saving have increased, down from 15% when the survey was conducted three months earlier. Rebecca Driver, the […]

Worst Isa season on record say IMA

Worst Isa season on record say IMA

According to the Investment Management Association (IMA), the fund management trade body, this yeara��s Isa (Individual Savings Accounts) season has been the worst on record. As investors were threatened by the financial crisis, sales of Isas fells to a new low said the IMA. Net sales of Isas fell to A?1.3 billion during the 2007/08 […]