Not like its gonna make people invest in UK (directly)
I imagine common joe will be on sp500 or all world and never touch anything else. Including myself I'm only on all world.
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Best savings account?
- Thread starter Merlin5
- Start date
I imagine common joe will be on sp500 or all world and never touch anything else. Including myself I'm only on all world.
Yeh I would probably go with sp500..
Although i can't do anything at the moment on the stocks and shares ISA side of it as I'm over my allowance this year.
If it's a non ISA invest then I'm going to be taxed
Had an email this morning about my tax calculation has been updated..wonder what this could be hmm
What they are saying I paid too little tax April 2024 to April 2025 ? How is this ? It's not come from my savings as I have been below my PSA threshold ??
How exactly have they come to the conclusion that I owe tax ?
Is it worth checking with the finance HR team in work to determine if this I an error on their side. hMRC side or if hMRC think iv paid to little from somewhere else ?.
What they are saying I paid too little tax April 2024 to April 2025 ? How is this ? It's not come from my savings as I have been below my PSA threshold ??
How exactly have they come to the conclusion that I owe tax ?
Is it worth checking with the finance HR team in work to determine if this I an error on their side. hMRC side or if hMRC think iv paid to little from somewhere else ?.
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This or similar has happened to me. HMRC in their ultlmate wisdom roll over last year's savings receipts as though they will be the same this year and you end up being charged more tax.
What should happen is they reset non work incomes each year and wait for interest payment notifications to come from the banks etc. I am still waiting resolution of the year following one in which I did have an excess due to a house purchase.
So they " guess " based.on your savings ? IE I'm a higher rate tax payer but aslong as I don't make.£500 in interest on savings I should be fine last year I was under my PSA
I don't understand where this error that they seem to think I have underpaid has come from . If I phone and wait on the line will they will me and sort it out ?
That's £500 I would have to pay or around £48 per month for the near back
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I have still no definitive conclusion on £87 underpaid since 2022/2023 which keeps appearing without a reconciliation it seems. I am hoping that it is now sorted after a conversation in May. They have mentioned the reset or lack of it as the cause but it seems crass to me. I am a pensioner with 18k income on top of state pension and savings mostly ISA which currently attract less than my £1000 savings interest allowance.
Ring them and ask and have supporting statements of interest which they should confirm as accurate.
Soldato
- Joined
- 13 Sep 2005
- Posts
- 4,438
I applied for a tax relief refund late March. Still waiting now. 45 mins trying to get through on the phone on Mon and had to hang up in the end. Useless...
Yes they want more people into (UK)stocks because it'll help companies grow and returns on cash are poor over the long run.
I had a check on my end of year p60 , apparently i paid a certain amount of tax, checking this on the money saving expert site, it seems that the value in the difference that i paid vs what is due is the exact amount they are trying to recouip
so i dont think i can do much about it ???? other than cough up,
Im thinking about switching my normal savings account from Chip (currently at 4.0% to something like chase 5.0%
I cant really earn more than £500 interest because im a higher rate tax payer, but want to start earning abit more interest in this account to make up for the tax i have to pay HMRC
I cant really earn more than £500 interest because im a higher rate tax payer, but want to start earning abit more interest in this account to make up for the tax i have to pay HMRC
Well the bonus rate lasts for 12 months and is 2.25% AER fixed bonus for 12 months
My bonus with chip was ending in August. So would be going from 4.03 to something lower probably and then any boe rate drops.
It's better than what I have at the moment
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No just historical interest payments
Ive already got Cash ISA and money in Chip account gaining interest but I wanted to try a Stocks ISA on the Trading 212.
I want to invest £2,000 for now and see how we go.
Is the best two to go for
Vanguard All world and developed Europe?
I want to invest £2,000 for now and see how we go.
Is the best two to go for
Vanguard All world and developed Europe?
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Associate
- Joined
- 22 Nov 2017
- Posts
- 351
Morning all, my mother has just asked me if this Chase offer is a good "deal":
www.chase.co.uk
I have replied to her saying that it really depends on what she wants to do with her money, I am waiting for more details as she is feeding me piecemeal but on the face of it I think she would be better off with a T212 ISA which is what I use for short term saving. I've been on Money Savings Expert and T212 ISA is currently 4.98% where as the Chase is 5% but unless I am missing something surely she would be better off with the slightly smaller % in the T212 ISA for the tax benefit?
Looking at the fixed term cash ISAs on the same site they are offering a lower rate so not sure there is much benefit in her utilising one of those as I suspect she will already be more inclined to have access to the funds even though she says she doesn't need them for a year.
Any thoughts?
Saver account with a boosted rate
Get a 2.25% AER fixed boost for 12 months on top of our standard saver variable rate.
I have replied to her saying that it really depends on what she wants to do with her money, I am waiting for more details as she is feeding me piecemeal but on the face of it I think she would be better off with a T212 ISA which is what I use for short term saving. I've been on Money Savings Expert and T212 ISA is currently 4.98% where as the Chase is 5% but unless I am missing something surely she would be better off with the slightly smaller % in the T212 ISA for the tax benefit?
Looking at the fixed term cash ISAs on the same site they are offering a lower rate so not sure there is much benefit in her utilising one of those as I suspect she will already be more inclined to have access to the funds even though she says she doesn't need them for a year.
Any thoughts?
Morning all, my mother has just asked me if this Chase offer is a good "deal":
Saver account with a boosted rate
Get a 2.25% AER fixed boost for 12 months on top of our standard saver variable rate.
I have replied to her saying that it really depends on what she wants to do with her money, I am waiting for more details as she is feeding me piecemeal but on the face of it I think she would be better off with a T212 ISA which is what I use for short term saving. I've been on Money Savings Expert and T212 ISA is currently 4.98% where as the Chase is 5% but unless I am missing something surely she would be better off with the slightly smaller % in the T212 ISA for the tax benefit?
Looking at the fixed term cash ISAs on the same site they are offering a lower rate so not sure there is much benefit in her utilising one of those as I suspect she will already be more inclined to have access to the funds even though she says she doesn't need them for a year.
Any thoughts?
There's no reason not to put it into a cash isa with such a tiny difference in interest rate.