A conservative report has accused major banks of taking advantage of the tax relief offered to customers through the cash ISA savings product, by paying less interest than they would on the equivalent taxable products they offer.
Posts Tagged ‘Savings Account’
Banks taking ISA tax advantages from customers
Monday, May 23rd, 2011Children’s Savings boost: Government plans Junior ISA for under-18s
Thursday, October 28th, 2010
Government has announced a new Junior ISA for children’s savings, to be launched in Autumn 2011. Coming in cash and stocks & shares versions, Junior ISAs will be tax-free savings accounts that parents and family friends can use to save for a child. Read More
Saving for children – Treasury proposes new tax-free account
Monday, October 4th, 2010
A new tax-free account for saving for children has been proposed by the Treasury. The account is remarkably similar to the recently-axed Child Trust Fund Scheme, with the notable difference that there would be no Government contributions to replace the £250 voucher in the Child Trust Fund. Read More
Savers must bear ISAs in mind as tax and inflation bite into savings accounts
Wednesday, September 15th, 2010
Savers are failing to factor in tax and inflation, when comparing bank savings accounts. Their cash is losing value, in real terms, as a result.
Read More
Get down to brass tax, with tax-free savings! Use your ISA allowances now
Wednesday, January 27th, 2010It’s that time of year again! With the end of the tax year on 5th April 2010 fast approaching, now is the time to snap up this year’s allowances for tax-free savings in Individual Savings Accounts (ISAs).
Over-50s unaware of new minimum retirement age
Monday, December 21st, 2009
The majority of over-50s are unaware of the upcoming changes in the minimum retirement age, and other legislation affecting their retirement planning, according to a report published this week.
Revenue offers tax back on pensioners’ savings
Wednesday, November 11th, 2009Thousands of pensioners who have overpaid tax on their savings and investments are entitled to reclaim overpayments, and have their interest paid gross in the future, according to an announcement this week by the Revenue (HMRC). Non-taxpayers, including the vast majority of pensioners receiving Pension Credit, are currently taxed on interest in their bank or building [...]
Higher ISA allowances for over 50s
Tuesday, October 27th, 2009The annual limit for investing in Individual Savings Accounts (ISAs) rose for over-50s at the beginning of October 2009. The new limit for over–50s is now £10,200 per year. This limit will be available to under-50s as well from April 6th 2010. Until then, under-50s continue at the current annual limit of £7,200.  The new limits give [...]
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