Savings: Popularity of ISAs on the decline

Popularity of ISAs on the declineFor years Individual Savings Accounts, ISAs for short, have been the most popular option for savers and investors alike. However, it now appears they are declining in popularity. Figures released by HMRC show that the number of adults taking out ISAs has fallen to an all-time low with 13 million opened in the 2014/15 tax year; a fall of half a million on the previous tax-year. The drop comes despite the Government trying to encourage long term saving, by increasing the amount which can be paid into ...

Five reasons why you still need an ISA

Tax Free Key Means UntaxedThe announcement in the Budget, that savers will now receive a proportion of their savings interest tax-free, has led some people to suggest that ISAs (Individual Savings Accounts) will no longer be needed. Since its introduction the ISA has become the foundation of most people’s savings and investments, so is the future of the ISA really in doubt? What changed in the Budget? George Osborne has announced a new personal savings allowance will be introduced from April 2016. This will mean the first £1,000 of interest for basic rate ...

Savings: Act quickly so you don’t miss out on Pensioner Bonds

Act quickly so you don’t miss out on Pensioner BondsNew research has shown that older savers could miss out on the great interest rates offered by Pensioner Bonds if they don’t act quickly. Last week, National Savings & Investments (NS&I), who will administer the Pensioner Bonds, announced the interest rates which are well in excess of other comparable accounts. The one year fixed rate Pensioner Bond will pay a gross interest rate of 2.8%, whilst the three year fixed rate will pay 4.00%. Read more: Pensioner Bonds launched with table topping rates Act quickly ...

Your money: 7 things that have changed in the past month

Your money 7 things that have changed in the past month 150pxDuring the past month the Chancellor has delivered his Autumn Statement and we’ve had an avalanche of announcements and news all of which will affect your personal finances. We’ve rounded up the seven biggest changes that you need to know about. #1 Homebuyers: Stamp Duty cut In his Autumn Statement George Osborne announced major changes to the way Stamp Duty is calculated. At present anyone buying a residential property for more than £125,000 will pay Stamp Duty; calculated as a percentage of the ...