Savers seeking tax-free returns have switched their Cash ISA preferences while the Bank Base Rate has remained at its historic low, Leeds Building Society has discovered.
There was a welcome boost for savers in this year’s Budget, thanks to a loosening of the rules governing Individual Savings Accounts (ISAs) and a significant increase in the amount of money people can save tax-free.
With the end of the tax year looming, Halifax is making life easier and more convenient for customers by opening the majority of its branches late. The bank expects to open a new ISA in its branches every five seconds when they open on April 7th, the first working day of the new tax year.
Savers with Cash ISAs with Leeds Building Society will be able to top these up to the new raised £15,000 annual allowance come July.
In the run up to the end of the tax year, Fidelity Personal Investing commissioned a poll of ISA savers, where people were asked about their priorities for their annual allowances.
As the fifteenth anniversary of ISAs approaches, the next tax year’s annual ISA allowance of £15,000 is likely to encourage savers and, with interest rates remaining low, stocks and shares ISAs are looking increasingly attractive.
Almost two thirds (63%) of Brits still haven’t used their ISA allowance this tax year, according to research by the TSB. Just 15% of people have used their full 2013/14 ISA allowance, with only a fifth (22%) investing a partial amount.
Savers keen to take advantage of the new ISA (NISA) increased £15,000 limit and make the most of their tax free savings, will be able to make deposits in to their Santander 2 Year Fixed Rate Cash ISA account up to 31 August 2014 (for products opened from 10 March 2014).
In response to last week’s Budget, Bank of Scotland has made changes to its fixed rate ISA rules so that customers don’t miss out on the increased £15,000 NISA limit.
The Chancellor of the Exchequer has now announced the UKs annual budget. For some people there will be great benefits, and for others, it may mean that they have to give up a few of life’s luxuries, or at least cut down.
With 7.5million savers expected to fund new ISA accounts in the first three months of the tax year, Halifax has rewritten its fixed rate ISA rules to ensure these early funders don't miss out on the increased £15,000 ISA limit.
Following the announcement in the budget that the ISA limit will be increased to £15,000 in 2015, Marcus Brookes Head of Multi-Manager at Schroders, shares his views on a number of sectors and some of the funds available for ISA season.
With just three weeks to go until the end of the tax year, only 36% of Stocks and Shares ISA savers surveyed by Fidelity Personal Investing say they have invested their full allowance for this tax year.
More than one in ten (12 per cent) of the UK’s over 45s population with a stocks and shares ISA have considered transferring these funds into a cash version, according to new research from Nationwide Building Society, even though they cannot do so under current ISA rules.
Skipton Building Society has launched a new Fixed Rate ISA range which sees interest rates increase on its one, two and three year products. Skipton’s five year product, a regular feature in best buy tables, is still paying 3.00%.
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