Lockdown savings? Put them in an ISA while you can
This article in the Guardian looks at how the Covid pandemic has bolstered many people’s balances. It also has some tax-efficient places for readers to put their extra cash.
The piece mentions various investment ideas but for most, we believe bespoke advice is best.
Rishi Sunak’s pension allowance freeze is a ‘tax on private sector workers’
Some more speculation about the budget in this piece from The Telegraph. This time looking at pensions and the potential lifetime allowance freeze first reported on by The Times last week.
It has been reported that Chancellor Rishi Sunak intends to keep the allowance at its current level, £1,073,100, for the rest of the current parliament. Currently, it rises in line with inflation.
We will have an analysis of the budget on Wednesday but just to be clear this would be a move which would be a tax on all, not just those in the private sector.
How I was hit by a 15% fee – hidden in shares small print
The writer of this Mail article bought £1,000 of shares from Hargreaves Lansdown in 2018. What he did not know was that they were charging him £20 + VAT twice a year to send updates on the stocks. After the value of the shares almost halved over the last couple of years, the £72 in fees he had paid out amounted to 15% of his remaining investment.
The column warns investors about reading the small print and the terms and conditions, naturally, but also accuses Hargreaves Lansdown of being sneaky about its charges. The charges were laid out in six-page market reports the writer was sent, but he says he never read those reports because he had never requested them in the first place and considered them junk mail.
When we make any recommendations, we look to make the costs as clear and transparent as we can.