Three of the top robo-advisers for Stocks and Shares ISAs Personal Finance Robo-advisers are growing in popularity as a way for hands-off investors to have their portfolio managed at lower costs. These financial robots are aimed at ISA and non-ISA investment customers, though not all robo-adviser firms offer a full range of ISA options. A robo-adviser uses algorithms that analyse investors’ answers to pre-set questions, then suggests [...]
Cash ISA savers missing out on billions with low-interest accounts Personal Finance According to Paragon Bank research, millions of savers keep money in Cash ISA accounts paying two per cent or less. Figures from Paragon reveal that £54bn is held in such low-interest Cash ISAs. Cash ISAs remain hugely popular with savers as a low-risk option for their money, with any interest earned free of tax. Around [...]
Should I consolidate my pension pots? Personal Finance The UK is reckoning with a proliferation of small pension pots, which is increasing costs for providers and making retirement planning challenging for savers. The cheapest Self-Invested Personal Pension (SIPP) providers According to research from the Institute of Fiscal Studies, in 2024 there were 12.1m defined contribution (DC) pension pots which held less than £1,000 [...]
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 [...]
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 CityAM: However, according to savings experts [...]
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 [...]
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 [...]
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. [...]
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. [...]
Home repossessions rise as higher interest rates bite borrowers February 10, 2025 The number of homeowners with mortgages facing repossession rose in the fourth quarter of 2024 as buyers struggled with higher interest rates. UK Finance figures show that repossessions rose 12 per cent in the last three months of 2024 compared to the previous year and were up 54 per cent yearly. Overall, 1,030 residential houses [...]
