Four tax reliefs to make the most of before 5 April March 14, 2025 Savers and investors have just a few weeks left to take advantage of their tax reliefs before the financial year ends on 5 April. Using these tax reliefs helps make the most of an uncertain political environment around wealth, with some tax allowances slashed in the 2024/25 year. These are four of the top tax [...]
Stocks and Shares ISA inspiration from the experts March 12, 2025 As part of City AM's series on ISAs, we asked Camilla Esmund, senior manager, interactive investor to gather some Stocks and Shares ISA inspiration from the experts.
Savers love Cash ISAs – but their safety comes at a price March 10, 2025 Savers love the safety of Cash ISAs, overwhelmingly preferring them to their riskier but more lucrative investment ISA rivals. Around 14.5m people now have a Cash ISA, compared to 4m with a Stocks and Shares ISA, according to figures from HM Revenue & Customs (HMRC). More on ISAs from City AM: However, according to savings experts [...]
Taxes might be going up. Here’s how to cut your tax bill March 10, 2025 Savers are preparing for the possibility of income tax increases, with Chancellor of the Exchequer Rachel Reeves expected to announce some changes to the tax regime in March. Labour pledged not to increase income tax during its election campaign. However, the Treasury has discussed freezing income tax thresholds and has refused to rule out income tax [...]
How to avoid the 60 per cent income tax trap March 10, 2025 As more taxpayers have part of their earnings taxed at an effective rate of 60 per cent, financial advisers are working to help clients avoid the so-called income ‘tax trap’. A freedom of information request submitted by Bowmore Financial Planning to HM Revenue & Customs revealed that in 2023-24, 634,000 taxpayers earning between £100,000 and [...]
Why ISAs and pensions make a ‘perfect combination’ March 7, 2025 A key personal finance deadline is approaching. Savers with Individual Savings Accounts have until April 5 2025, to use their annual tax-free allowance, which shields up to £20,000 of savings in the 2024/25 tax year from tax on interest, capital gains or dividends linked to ISA investments. Last year, investment platform AJ Bell said that [...]
Nearly half of pension savers are missing out on upto £800k March 4, 2025 Analysis shows that over 2.3m high-income savers are unwittingly missing out on over £1bn of tax relief on pension contributions. More than half (56 per cent) of workers in higher or additional rate tax bands have a personal pension, according to research from ETF investing platform InvestEngine. However, 46 per cent (2.3m people) of that [...]
Should I get an Innovative Finance ISA? March 3, 2025 Innovative Finance ISAs offer retail investors an alternative to more conventional savings accounts, although some financial advisers are cautious about the risk that comes with these products. IFISAs are designed to include more long-term, less-liquid investments. These can include peer-to-peer loans, crowdfunded debt issued by companies, and bonds issued by charities. As with all ISAs, [...]
Should I invest for my child’s future with a Junior ISA? February 28, 2025 In a world of soaring costs, expensive university fees and eye-watering house prices, parents would do well to invest in their children before they enter adulthood. Parents surveyed by the Be Clever With Your Cash money site last year said that they were putting £750 a year for each of their children, while their kids [...]
Who is the Lifetime ISA for? February 28, 2025 Lifetime ISAs have been the focus of policymakers’ considerations as they consider how to reform and simplify the UK’s savings landscape. In January, the Treasury Committee called for evidence from industry on whether the Lifetime ISA remains fit for purpose nine years after its creation. It has asked how the product could be reformed or [...]