magazine archive
magazine archive
Personal Finance
Why it can pay to invest in an ISA as early as possible each tax year
Thursday 30 Mar 2023It’s that time of year when people rush to make the most of their annual ISA allowance before the tax year ends on 5 April. Many people leave this task right until to the last minute. After all, there’s nothing like a deadline to stimulate action. However, a rarer breed of investors will be...
Will Jeremy Hunt's childcare plan really make a difference for parents?
Thursday 23 Mar 2023Jeremy Hunt unveiled a new plan to help parents with childcare costs at the Budget, but lots will be disappointed to miss out as the full scheme won’t be in place until late 2025. The chancellor said that parents will be able to access 30 hours of free childcare a week, per child, from the time...
Building a £1 million tax-efficient portfolio for your children
Thursday 09 Mar 2023Parents who have lots of spare money each year can build up a hefty portfolio for their children by the age of 18 by maximising the tax-efficient accounts available to them. Parents of three children can use a combination of starting early, generous contributions, pensions tax relief and investment...
How tax changes will make ISAs even more valuable to investors
Thursday 02 Mar 2023ISAs are now in their 24th year of existence and very much part of the furniture for many savers and investors. Indeed, they can become so familiar that it’s easy to lose sight of the tax benefits that makes these accounts so attractive in the first place. We also sit on the cusp of a raft of tax...
Beware: there is a sneaky tax rule that eats into your child’s savings
Thursday 23 Feb 2023Parents who diligently put money away in savings accounts for their children wouldn’t expect to be hit with a tax bill, but a little-known rule means that taxman could take some of the interest from your child’s savings. This tax rule means that once your child earns £100 or more in interest on...
What is Britcoin, will it replace cash and is it a good idea?
Thursday 16 Feb 2023The Government has announced it is moving forward with the development of a digital pound, which has been widely dubbed ‘Britcoin’. A final decision on whether to launch the digital currency has not been taken yet, and if it does come to pass, it will happen towards the end of this decade. In the...
Eight big tips to beat the taxman this April
Thursday 09 Feb 2023Tax year end is less than two months away, which means it’s time to get your financial affairs in order and make sure you’re making the most of all your allowances and not unnecessarily handing over money to the taxman. Here’s our checklist of eight things to do before 5 April to make sure your...
How to beat the rising tide of capital gains tax
Thursday 02 Feb 2023Capital gains tax is about to become a big headache for many more investors. Under current rules, individuals have a relatively generous £12,300 of investment gains which they can realise each tax year without being subject to tax. However, the Chancellor has announced that from April 2023, this...
Premium Bonds prize fund has risen – but are they worth it?
Thursday 26 Jan 2023NS&I has increased the prize fund on Premium Bonds once again, as it tries to keep up with the rates war in the savings market. The Government-backed provider has added £80 million in prizes each month, meaning this month it expects to pay out almost £300 million in prizes. From February it...
Look out for these big personal finance changes coming in 2023
Thursday 12 Jan 2023The new year is here – and it brings with it a raft of changes that will impact your pocket or pay packet. Here are the big changes to look out for in 2023. JANUARY: Old stamps expire Anyone with non-barcoded stamps will find they are officially not usable from 31 January. However, the Royal Mail...