No green shoots for Isa savers as the new tax year sees saving rates fall as Marcus fails to spur a tax-free rate war Rates on easy-access Isas have fallen from 0.46% in March to 0.41% March and April is usually ‘Isa season’ when banks compete for savers’ cash Rates are now at an all-time … Read more
Marcus Bank will FINALLY launch a best buy cash Isa next week after two years of hinting – will it help trigger a tax-free savings war? The bank will pay 0.4% tax-free interest to savers from 6 April onwards It does not allow previous year’s transfers or non-Marcus customers Marcus first hired a Isa product … Read more
Can I take a 25% lump sum from my final salary pension and leave the rest where it is? Steve Webb replies By Steve Webb for This Is Money Published: 07:51 BST, 29 March 2021 | Updated: 07:51 BST, 29 March 2021 I’m 57 and have a final salary pension. I want to know whether … Read more
British savers have been dealt yet another blow after the government-backed NS&I took an axe to savings rates, throwing returns across the board into reverse. The average rate paid by the best five easy-access cash Isas had risen from 0.78 per cent to 0.92 per cent between the start of September and 21 September, when National … Read more
UK’s fifth richest man quits Britain: Petrochemicals magnate Sir Jim Ratcliffe who’s worth £17.5 BILLION moves to tax-free Monaco Sir Jim Ratcliffe has officially moved from Hampshire to tax-free Monaco The petrochemicals magnate was the UK’s third highest individual taxpayer He was recently knighted by the Queen and was a prominent Brexiteer in 2016 By … Read more
Rishi Sunak faces backlash from retail giants including Selfridges, Harrods and Marks & Spencer over plans to axe tax-free shopping that ‘will drive foreign shoppers to Paris’ Chancellor Rishi Sunak was told the move would wipe out 70,000 jobs Retail giants have warned that the plans would cost the economy £5.6billion Selfridges managing director Anne … Read more
In recent months, whenever I go to refresh the This is Money five best cash Isas guide while working from home, I put my head in my hands. Rates haven’t just fallen off a cliff – they’ve somersaulted into the Mariana Trench, and are sinking so fast, it’s hard to see them bobbing back anytime … Read more
If Isa season is judged by how many new tax-free savings deals pop up in February and March, then 2020 has been an almost non-entity. At the start of this year, there were 149 easy-access Isas paying an average of 0.85 per cent, according to Moneyfacts. By the first day of the new tax year … Read more
Chancellor Rishi Sunak raised the Junior Isa allowance from £4,368 to £9,000 in the 2020 Budget Savers weren’t handed many giveaways in an 11 March Budget primarily focused on the coronavirus outbreak. But one pleasant surprise was a more than doubling of the tax-free Junior Isa allowance from £4,368 to £9,000, which comes into force … Read more
Doing it for the kids! Budget hands young savers a boost as Junior Isa allowances more than double to £9,000 from April Junior Isas were introduced in 2012 and replaced Child Trust Funds Both currently allow those aged under 18 to save up to £4,368 tax-free a year This will be upped by 106% in … Read more