Tomorrow (6th October) sees an increase in the ISA allowance for anyone who will be 50 or over by 5th April 2010 (the end of the current tax year).
If you’re yet to invest in an Individual Savings Account (ISA) this tax year, and you’ve got some spare money lying around that really should be earning more than it is (plus you’d like to shelter it from the clutches of the taxman), then you’re quickly running out of time to make sure you make the most of your ISA allowance.
Premium bonds have never been a particularly attractive investment, more like a middle class lottery where you didn’t actually lose your money every week.
Following the collapse of the Icelandic banks a few months ago, there seemed to be a trend towards British savers pulling their money back home, to give themselves peace of mind that their money was guaranteed under the government’s Financial Services Compensation Scheme.
It looks like process to get Icesave customers their money back is working, as 10,000 randomly selected savers should now have had their funds transferred to their chosen bank accounts.
7 central banks, including our very own Bank of England, have agreed to cut interest rates.
You only have to take a look at the Money Saving Expert forums to see how the news of Icesave’s demise has gone down with its 300,000 British savers – post after post of queries asking how much of their money is protected and how they can get their money back.
So what do Icesave savers need to know?
I hope you’ve had a great New Tax Year’s Day! What makes today so special? Well, you now have a brand new ISA allowance to play with – and this year the government has generously increased the maximum amount you can pay into your ISA to a whopping £7,200, yes, that’s a massive £200 more […]
With just 11 days left until the end of this tax year (Saturday 5th April 2008), have you used your Individual Savings Account allowance for this year? From my experience, there will be people reading this who have no idea what an ISA is, there will be those who know what they are, but do […]
This year’s budget wasn’t the most exciting, but in the current financial climate, you could hardly expect it to be. With businesses and consumers finding borrowing more and more difficult, as banks reduce their lending following the credit crunch, and as the cost of electricity, gas, petrol and food continue to rise, we’re all finding […]