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Old 27-01-10, 05:48 PM   #11
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Default Re: where to put money?

Martin Lewis has all the answers

http://www.moneysavingexpert.com/sav...-best-interest

Cheers Keith
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Old 27-01-10, 07:28 PM   #12
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Default Re: where to put money?

Cash isa is the way to go, £3600 a year you are allowed to put in and any interest is tax free , interest isnt great at the minute anywhere but you'll pay tax on the others so will seem less anyway.
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Old 27-01-10, 07:38 PM   #13
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Default Re: where to put money?

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Originally Posted by Well Oiled View Post
Martin Lewis has all the answers

http://www.moneysavingexpert.com/sav...-best-interest

Cheers Keith
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Old 28-01-10, 09:52 AM   #14
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Default Re: where to put money?

citibank 3.5% flexible saver. e-access , unlimited withdrawls.
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Old 28-01-10, 09:54 AM   #15
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Default Re: where to put money?

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Cash isa is the way to go, £3600 a year you are allowed to put in and any interest is tax free , interest isnt great at the minute anywhere but you'll pay tax on the others so will seem less anyway.
Yeah but as soon as he withdraws it for the new bike he can only but a grand or so back in in this tax year. (IIRC the isa allowance might actually be less than that).
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Old 28-01-10, 09:58 AM   #16
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Default Re: where to put money?

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Yeah but as soon as he withdraws it for the new bike he can only but a grand or so back in in this tax year. (IIRC the isa allowance might actually be less than that).
Isn't it £3000 maximum in any one financial year?
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Old 28-01-10, 09:59 AM   #17
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Default Re: where to put money?

I am off to see about a cash ISA today, granted I can only put in about 3 grand this year, but can shove another lump in next financial year.

I had thought of them as locked in, but now realise so long as I am sensible they can give me better and tax free interest than my 0.1% I seem to be seeing in my instant access building society account.

BTW I pay prudence Brown at 40%, so I aim to minimise any more going to him
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Old 28-01-10, 09:59 AM   #18
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Default Re: where to put money?

Yes, probably. Couldn't remember if it was £3k or £6! (it's going up this year though IIRC)
In that case ISA is definitely out of the question.
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Old 28-01-10, 10:01 AM   #19
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Default Re: where to put money?

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Originally Posted by timwilky View Post
I am off to see about a cash ISA today, granted I can only put in about 3 grand this year, but can shove another lump in next financial year.

I had thought of them as locked in, but now realise so long as I am sensible they can give me better and tax free interest than my 0.1% I seem to be seeing in my instant access building society account
If you google 'isa calculator' or similar you can see if any other accounts beat an isa. They're not always the best rate. Norwich and peterborough do a regular saver at 5% so you could put all of it in a easy access savings account and direct debit it to drip feed into the regular saver.
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Old 28-01-10, 11:16 AM   #20
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Default Re: where to put money?

ISA, its defo £3600, i took out one last week.
but, daves right, if you withdrawl you cant put any back in until next financial year.
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