Celebrating 20 years of the ISA

Matthew Barrand Savings

The Individual Savings Account (ISA) was launched on 6th April 1999 and it hasn’t looked back. Today it’s estimated that 42% of adults hold one, which is hardly surprising considering how simple and tax-efficient they are. When the ISA was launched, the annual allowance was £7,000 and it has risen steadily over the years. In this tax year, you can …

Savings

Saving £2880 a year could provide a retirement windfall for your child

Matthew Barrand Savings

Planning ahead and starting early can really help when it comes to building up wealth for children. Current pension rules, which could change in the future, allow a parent to put up to £2,880 a year into a pension for a child. Tax relief means that this is then topped up to £3,600. If a parent starts this once a …

Savings

Savings – do you need a nudge?

Matthew Barrand Savings

According to data from the Office for National Statistics, the UK is losing the savings habit. In the last couple of years, the savings ratio has been at about 4%, whereas in the 1990s it was closer to 15%. Statistics show that half of 20-somethings have no savings at all, and research carried out by the Money Advice Service in …

Premium Bonds

NS & I widens the chance to save for young children

Matthew Barrand Savings

Anyone aged 16 or over can now invest in Premium Bonds on behalf of children under the age of 16, meaning these gifts are no longer restricted to parents and grandparents. Premium Bonds can be bought as gifts online at www.nsandi.com/gift or by post and the purchaser will need to nominate one of the child’s parents or guardians to look …