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 [...]
ISA millionaires: 25 ISAs hold a combined £222m February 27, 2025 According to new data on ISA millionaires, nearly a quarter of a billion pounds is now held in a handful of ISA accounts. A series of Freedom of Information requests from Investengine has revealed that the top 25 highest-value ISAs in the UK now hold a combined total of £222m in assets. The findings mean [...]
HMRC launches fresh tax crackdown on ‘side-hustlers’ selling online February 26, 2025 HMRC has launched a fresh crackdown on online sellers with a side-hustle who don’t report their income to the Treasury. The ‘One to Many’ letter campaign will ‘nudge’ individuals suspected of operating in the hidden economy. It will be based on data HMRC has received from online marketplaces. The campaign is intended to prompt sellers [...]
The power of compounding when it comes to reaching your financial goals February 26, 2025 interactive investor is the UK’s second largest platform for private investors I’ve been re-reading the brilliant best-selling book Atomic Habits by James Clear – which, if you’re unfamiliar with it, outlines the small, but ‘stackable’ behavioural changes we can make to turn big goals into actionable and sustainable daily habits. Clear explains that this can [...]
A guide to ISAs: The different options for savers February 24, 2025 An Individual Savings Account (ISA) is a tax-efficient way to save or invest. It allows you to earn interest or returns without paying income or capital gains tax. There are five different types of ISAs to suit various financial goals. Understanding the different options will help you choose the right one for your needs. 1. [...]
Natwest Boxed launches savings account with The AA February 24, 2025 Natwest’s financial services platform Natwest Boxed has partnered with The AA to launch an instant savings account. Boxed, which comes from a joint venture between the FTSE 100 lender and European fintech Vodeno, will leverage its embedded finance products for AA customers starting from March 2025. The new savings account will be FSCS-protected and customers [...]
Why savers should consider a flexible ISA February 20, 2025 Savers are looking for ways to use their ISA allowance before the tax year ends, and a flexible ISA is well worth considering. A flexible ISA is tax-friendly as it allows users to withdraw money and repay it without affecting their annual allowance, so long as any money is repaid in the same tax year. [...]