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Savings and Investments thread
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Ah - that makes much more sense. Thank you. The ‘help’ at the end of the phone was pretty bad tbhRob7Lee said:
Investec are good, I’m doing quite well on their shares and also in process of switching banking to them. But check as they refer to switching a cash ISA.bobmunro said:Arsenetatters said:I've got a S & S ISA with fidelity which I wanted to change to one of their 'ready made' S and S ISAs but am having trouble sorting it and each time I phone I get a different answer. I'm getting fed up with them so am thinking of transferring it to a cash ISA somewhere else. I've already used up this year's allowance but am I OK to transfer and still keep the tax benefits from this one?Edit - it's got over £20,000 in itTo build on @Rob7Lee you will probably have to sell your investments and convert them to cash before you can transfer the funds to a Cash ISA with another provider. Also, as you have already used up this year's allowance you need to open a Cash ISA elsewhere that doesn't require 'new' money in order to open it, just the transfer.Investec are offering 4.95% fixed for one year which is about the best out there at the moment - you can transfer in without needing new money to open it.(I mention Investec so much, anyone would think I;m on commission! They really are good though.)
On fidelity, answers these simple questions, note down the suggested fund and ‘switch’ what you have to that fund:
https://www.fidelity.co.uk/ready-made-isa/?ef_id=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwE:G:s&s_kwcid=AL!8153!3!786808512429!p!!g!!fidelity%20ready-made%20isa!23328986789!191231735964&utm_source=google&utm_medium=paid_search&utm_campaign=uk_brand_2026_ready-made-isa_orders&gclsrc=aw.ds&gad_source=1&gad_campaignid=23328986789&gbraid=0AAAAAD_DS9f1x2ai3tLpEy32Pm3yL4mLI&gclid=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwE0 -
What do we all think of the Budget "leak" that pensioners on just the Basic State Pension will have their Personal Allowance increased next April to £13036 so they wont be paying tax (around £100) on their State Pension Income.
And why are pensioners any different to a part time/ low paid earner who also has income of £13036 next year.
Why not just increase the PA to £13050 for everyone, instead of adding another level of faff.5 -
The usual madness, easiest is personal allowance to £13,050 and lower where the 40% band comes in by the equivalent increase. But that would mean a slightly lower tax take of course.golfaddick said:What do we all think of the Budget "leak" that pensioners on just the Basic State Pension will have their Personal Allowance increased next April to £13036 so they wont be paying tax (around £100) on their State Pension Income.
And why are pensioners any different to a part time/ low paid earner who also has income of £13036 next year.
Why not just increase the PA to £13050 for everyone, instead of adding another level of faff.
the way the bands have been frozen and the PA is a joke especially for the low earners.
but they are going to have this problem year after year. In another 5 years the pensioners who only get state pension will have an allowance nearing £20k.
im looking forward to retirement 🤣0 -
Labour are cnutsgolfaddick said:What do we all think of the Budget "leak" that pensioners on just the Basic State Pension will have their Personal Allowance increased next April to £13036 so they wont be paying tax (around £100) on their State Pension Income.
And why are pensioners any different to a part time/ low paid earner who also has income of £13036 next year.
Why not just increase the PA to £13050 for everyone, instead of adding another level of faff.
That's. My educated view1 -
I'm a better off pensioner. But what I find a little bit annpoying is that I elected to pay extra into a company pension and opened my own SIPP. So the fact I have additional pension income is because I decided to forgo some income for the sake of the future. I know people who opted out of pension schemes and now rely on state pension so they are, in effect, rewarded! I'm not bitter about it as I'm, relatively speaking, comfortable but it does seem a bit unfair - any increased PA should apply to all of pension age.1
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Sadly it's the same with all 'means tested' stuff. It's measured at a point in time, not how frugal or wasteful you have been. Time we got rid of pretty much all benefits and just paid every adult from 18 to death a (very) basic wage.CafcWest said:I'm a better off pensioner. But what I find a little bit annpoying is that I elected to pay extra into a company pension and opened my own SIPP. So the fact I have additional pension income is because I decided to forgo some income for the sake of the future. I know people who opted out of pension schemes and now rely on state pension so they are, in effect, rewarded! I'm not bitter about it as I'm, relatively speaking, comfortable but it does seem a bit unfair - any increased PA should apply to all of pension age.2 -
Rob7Lee said:
Investec are good, I’m doing quite well on their shares and also in process of switching banking to them. But check as they refer to switching a cash ISA.bobmunro said:Arsenetatters said:I've got a S & S ISA with fidelity which I wanted to change to one of their 'ready made' S and S ISAs but am having trouble sorting it and each time I phone I get a different answer. I'm getting fed up with them so am thinking of transferring it to a cash ISA somewhere else. I've already used up this year's allowance but am I OK to transfer and still keep the tax benefits from this one?Edit - it's got over £20,000 in itTo build on @Rob7Lee you will probably have to sell your investments and convert them to cash before you can transfer the funds to a Cash ISA with another provider. Also, as you have already used up this year's allowance you need to open a Cash ISA elsewhere that doesn't require 'new' money in order to open it, just the transfer.Investec are offering 4.95% fixed for one year which is about the best out there at the moment - you can transfer in without needing new money to open it.(I mention Investec so much, anyone would think I;m on commission! They really are good though.)
On fidelity, answers these simple questions, note down the suggested fund and ‘switch’ what you have to that fund:
https://www.fidelity.co.uk/ready-made-isa/?ef_id=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwE:G:s&s_kwcid=AL!8153!3!786808512429!p!!g!!fidelity%20ready-made%20isa!23328986789!191231735964&utm_source=google&utm_medium=paid_search&utm_campaign=uk_brand_2026_ready-made-isa_orders&gclsrc=aw.ds&gad_source=1&gad_campaignid=23328986789&gbraid=0AAAAAD_DS9f1x2ai3tLpEy32Pm3yL4mLI&gclid=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwEIt's fine as long as the transfer is in cash. I sold a lump of MMFs and transferred it to Investec from a SS ISA. Open the fixed rate Cash ISA with Investec first and then during the application stage indicate that you are transferring from another provider. Let them have the details of your existing provider, account number and amount and they will do the rest.2 -
One thing I meant to check, the fixed rate ISA - they appear to pay out the interest to your linked account at maturity, so you lose that tax free wrapper for the interest, not a problem if you are spending it, but worth knowing for those who want to build not spend.bobmunro said:Rob7Lee said:
Investec are good, I’m doing quite well on their shares and also in process of switching banking to them. But check as they refer to switching a cash ISA.bobmunro said:Arsenetatters said:I've got a S & S ISA with fidelity which I wanted to change to one of their 'ready made' S and S ISAs but am having trouble sorting it and each time I phone I get a different answer. I'm getting fed up with them so am thinking of transferring it to a cash ISA somewhere else. I've already used up this year's allowance but am I OK to transfer and still keep the tax benefits from this one?Edit - it's got over £20,000 in itTo build on @Rob7Lee you will probably have to sell your investments and convert them to cash before you can transfer the funds to a Cash ISA with another provider. Also, as you have already used up this year's allowance you need to open a Cash ISA elsewhere that doesn't require 'new' money in order to open it, just the transfer.Investec are offering 4.95% fixed for one year which is about the best out there at the moment - you can transfer in without needing new money to open it.(I mention Investec so much, anyone would think I;m on commission! They really are good though.)
On fidelity, answers these simple questions, note down the suggested fund and ‘switch’ what you have to that fund:
https://www.fidelity.co.uk/ready-made-isa/?ef_id=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwE:G:s&s_kwcid=AL!8153!3!786808512429!p!!g!!fidelity%20ready-made%20isa!23328986789!191231735964&utm_source=google&utm_medium=paid_search&utm_campaign=uk_brand_2026_ready-made-isa_orders&gclsrc=aw.ds&gad_source=1&gad_campaignid=23328986789&gbraid=0AAAAAD_DS9f1x2ai3tLpEy32Pm3yL4mLI&gclid=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwEIt's fine as long as the transfer is in cash. I sold a lump of MMFs and transferred it to Investec from a SS ISA. Open the fixed rate Cash ISA with Investec first and then during the application stage indicate that you are transferring from another provider. Let them have the details of your existing provider, account number and amount and they will do the rest.2 -
Rob7Lee said:
One thing I meant to check, the fixed rate ISA - they appear to pay out the interest to your linked account at maturity, so you lose that tax free wrapper for the interest, not a problem if you are spending it, but worth knowing for those who want to build not spend.bobmunro said:Rob7Lee said:
Investec are good, I’m doing quite well on their shares and also in process of switching banking to them. But check as they refer to switching a cash ISA.bobmunro said:Arsenetatters said:I've got a S & S ISA with fidelity which I wanted to change to one of their 'ready made' S and S ISAs but am having trouble sorting it and each time I phone I get a different answer. I'm getting fed up with them so am thinking of transferring it to a cash ISA somewhere else. I've already used up this year's allowance but am I OK to transfer and still keep the tax benefits from this one?Edit - it's got over £20,000 in itTo build on @Rob7Lee you will probably have to sell your investments and convert them to cash before you can transfer the funds to a Cash ISA with another provider. Also, as you have already used up this year's allowance you need to open a Cash ISA elsewhere that doesn't require 'new' money in order to open it, just the transfer.Investec are offering 4.95% fixed for one year which is about the best out there at the moment - you can transfer in without needing new money to open it.(I mention Investec so much, anyone would think I;m on commission! They really are good though.)
On fidelity, answers these simple questions, note down the suggested fund and ‘switch’ what you have to that fund:
https://www.fidelity.co.uk/ready-made-isa/?ef_id=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwE:G:s&s_kwcid=AL!8153!3!786808512429!p!!g!!fidelity%20ready-made%20isa!23328986789!191231735964&utm_source=google&utm_medium=paid_search&utm_campaign=uk_brand_2026_ready-made-isa_orders&gclsrc=aw.ds&gad_source=1&gad_campaignid=23328986789&gbraid=0AAAAAD_DS9f1x2ai3tLpEy32Pm3yL4mLI&gclid=CjwKCAjw9PvWBhAxEiwAddzYyV6-io61jXH9Es53FtIdC4pLHWcJY_VowW8iI8wc7iG4N5jxG5J5KhoC8LkQAvD_BwEIt's fine as long as the transfer is in cash. I sold a lump of MMFs and transferred it to Investec from a SS ISA. Open the fixed rate Cash ISA with Investec first and then during the application stage indicate that you are transferring from another provider. Let them have the details of your existing provider, account number and amount and they will do the rest.Very good point.At my age I'm spending it, but if longer term growth is the strategy then a provider with compounding of interest is preferred.0
