ISA's

[Pondlife]

Think you answered your own question there.

Bank account paying 7%, returns 4.2% for a higher rate payer, 5.6% for basic rate. Cash ISA, round about 5.6%.

But why not use your full allowance?

[ace00]

Eh, how does that help?

ISAs deposits are with money you've already paid the tax on. It's only the growth that's tax free not the investment.

Think you answered your own question there.

Bank account paying 7%, returns 4.2% for a higher rate payer, 5.6% for basic rate. Cash ISA, round about 5.6%.

[crack_ho]

If you die, does the ISA become taxable?

It will be added to the estate and subject to IHT.
The benefactor will lose your tax wrapper so any future earnings from it after your death will be subject to Income Tax or CGT on sale if it is a Share ISA.

"It's only fair"

[sunnysan]

Death

If you die, does the ISA become taxable?

[Pondlife]

'Tis true - only reason to open cash isa is if you're nailed for higher rate tax.

Eh, how does that help?

ISAs deposits are with money you've already paid the tax on. It's only the growth that's tax free not the investment.

[ace00]

Cash ISAs are for permies.

'Tis true - only reason to open cash isa is if you're nailed for higher rate tax.

[sunnysan]

Update

So

The ISA team have phoned me back, some effiminate sounding scot politely informs me that my ISA application has been processed. So I wait ..... and thats it.

So I say thank you very much, however could I alert you to one very minor point, being, that there is no money in the ISA, its not showing on my accounts banking page and there is a 3.6 K debit in my current account.

So he reckons do I want to complain!!!!

So I say actually I dont want to complain I just want to know where my fcking money is.

No joy, he cant tell me.

So I phone the Barclays banking again and say that I think someone has stolen £3.6 out of my account.

This time it transpires that the transaction was done at their service center and "may have not been done well"!?!?!

Anyway, they are refunding the amount but OMFG, what a bunch of useless tulipheads

[expat]

People how fcking difficult is it to open an ISA.

A certain high street bank B"£$%^&s, have managed after a 3 week wait to somehow lighten my account by 3.6K and I have no ISA.

They also cannot tell me where the money has gone.

Sunny "making space under my mattress for cash" san

The same Bollocks High St bank did a good one on my partner. She had an ISA with the building society that they took over, so it was transferred to the new owners. Wanting to top it up to the max before the end of the tax year, she went in to a branch - where they told her that they could not find out the total amount that she had paid in during the year, so they could not tell her how much more she could legally put in.

Eh, there is always somebody with a worse computer system than the one that you're working on....

[VectraMan]

Cash ISAs are for permies.

The shares one I bought end of March is up by 13%.I wish I hadn't bothered with a cash ISA (which was a PITA to setup). I don't think I will again.

[Peoplesoft bloke]

Another vote for Fidelity here - breath of fresh air after HSBC's pen-pushing approach.

[crack_ho]

Cash ISAs are for permies.

[DimPrawn]

People how fcking difficult is it to open an ISA.

A certain high street bank B"£$%^&s, have managed after a 3 week wait to somehow lighten my account by 3.6K and I have no ISA.

They also cannot tell me where the money has gone.

Sunny "making space under my mattress for cash" san

WTF are you doing dealing with useless rip-off high street banks?

SelfTrade, Fidelity, etc all online, simple to manage, good service and low costs.

[Pinto]

Oh go on name and shame.

he did

[moorfield]

Oh go on name and shame.

Fidelity, HL to name a couple can all be done over t'interweb no need to speak to anyone!

[sunnysan]

People how fcking difficult is it to open an ISA.

A certain high street bank B"£$%^&s, have managed after a 3 week wait to somehow lighten my account by 3.6K and I have no ISA.

They also cannot tell me where the money has gone.

Sunny "making space under my mattress for cash" san