There's just time to get a last minute Isa
There's still time - just - to make the most of your tax free savings allowance for this year with an Isa. Here are some of the best deals to snap up while you still have time.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
There is still time just to get a cash Isa for this tax year. A cash Isa is simply a tax free savings account into which you deposit your savings: you get an allocation for it every year (£5100 this year). But once the money is in it any returns on it will come tax free forever (or until you withdraw it).
The deadline for using this years allowance is 5 April (Tuesday). That isn't far away, but get on the phone right away and you should find you can get an account set up in time. The best looking cash Isa on the market as I write (it is worth double checking this on moneysupermarket.com) is from Santander.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
So if the Bank of England puts interest rates up the rate on your Isa account will go up too. 3.3% isn't enough for your money to beat inflation but, given its tax-free status, the account is a lot better than most of those on the market at the moment.
Otherwise you can look at Barclays, which is offering 3.25% on its Golden Isa. However if you don't have a Barclay's current account you will have to go to a branch to apply.
Finally if you want to put money into a stocks and shares Isa but don't actually fancy investing don't forget you can keep cash in an ISA as long as you intend to invest it. Most providers pay an appalling rate of interest on the cash you hold like this. Usually Hargreaves Lansdown is no exception but they are offering a short term deal that pays 3% at the moment. It isn't great. But it is an awful lot better than nothing.
For more on how to make the most out of your Isa visit our personal finance section.
-
Average UK house price reaches £300,000 for first time, Halifax saysWhile the average house price has topped £300k, regional disparities still remain, Halifax finds.
-
Barings Emerging Europe trust bounces back from Russia woesBarings Emerging Europe trust has added the Middle East and Africa to its mandate, delivering a strong recovery, says Max King
-
Our pension system, little-changed since Roman times, needs updatingOpinion The Romans introduced pensions, and we still have a similar system now. But there is one vital difference between Roman times and now that means the system needs updating, says Merryn Somerset Webb.
-
We’re doing well on pensions – but we still need to do betterOpinion Pensions auto-enrolment has vastly increased the number of people in the UK with retirement savings. But we’re still not engaged enough, says Merryn Somerset Webb.
-
Older people may own their own home, but the young have better pensionsOpinion UK house prices mean owning a home remains a pipe dream for many young people, but they should have a comfortable retirement, says Merryn Somerset Webb.
-
How to avoid a miserable retirementOpinion The trouble with the UK’s private pension system, says Merryn Somerset Webb, is that it leaves most of us at the mercy of the markets. And the outlook for the markets is miserable.
-
Young investors could bet on NFTs over traditional investmentsOpinion The first batch of child trust funds and Junior Isas are maturing. But young investors could be tempted to bet their proceeds on digital baubles such as NFTs rather than rolling their money over into traditional investments
-
Negative interest rates and the end of free bank accountsOpinion Negative interest rates are likely to mean the introduction of fees for current accounts and other banking products. But that might make the UK banking system slightly less awful, says Merryn Somerset Webb.
-
Pandemics, politicians and gold-plated pensionsAdvice As more and more people lose their jobs to the pandemic and the lockdowns imposed to deal with it, there’s one bunch of people who won’t have to worry about their future: politicians, with their generous defined-benefits pensions.
-
How the stamp duty holiday is pushing up house pricesOpinion Stamp duty is an awful tax and should be replaced by something better. But its temporary removal is driving up house prices, says Merryn Somerset Webb.
