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Innovative Finance Isas explained

Innovative Isas help you earn tax-free interest on peer-to-peer lending. Find out which companies offer them, and the rates on offer. What is an innovative finance Isa, or Ifisa? An innovative finance Isa (Ifisa) – is an Isa that contains peer-to-peer loans instead of cash (as in a cash Isa) or stocks and shares (as in an […]

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Stocks and shares Isa importance

Stocks and shares Isas offer the possibility of higher returns than cash Isas, but only if you’re happy to take some risks with your savings What is a stocks and shares Isa? While a cash Isa is simply a tax-free savings account, a stocks and shares Isa is a tax-free investment account that lets you […]

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Best savings rates on the rise: 375 accounts now beat inflation

Is it time to find a better savings account? Savvy savers hoping to beat inflation can now choose from over 375 savings and cash Isa accounts that equal or outdo the CPI rate. By comparison, last month just 172 accounts could match or outpace inflation. Savers are benefiting from a fall in inflation – from […]

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Instant-access savings rates hit three-year high: is now the best time to open an account?

Competition for the top spot means rates are on the up for both savings accounts and cash Isas         Interest rates are rising across savings and cash Isa accounts, hitting up to 1.50% AER for both types of easy-access account. But it’s not just the top rates that are on the rise […]

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Children and income tax

The Which? guide to tax when you’re gifting money to children. We explain the rules and how parents can avoid falling foul of the ‘£100 rule’. Do children pay income tax on their savings? Technically, yes – children are liable to pay tax on savings, as they have the same income tax allowance as adults. It’s uncommon, though, as children […]

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What is National Savings & Investments?

Find out what NS&I is, what kind of savings bonds, Isas and certificates it offers, and how your money is protected. What is National Savings & Investments? National Savings & Investments – NS&I – is a government department and an executive agency of the Chancellor of the Exchequer, offering several government-backed savings and investment options. […]

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Premium bonds

Premium bonds are still the nation’s favourite, but are they worth it? We weigh up the pros and cons of this popular tax-free NS&I savings product. What are premium bonds? Premium bonds are a savings product from National Savings & Investments (NS&I) which offer the chance of winning between £25 and £1m each month instead of paying interest. […]

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Credit unions explained

Everything you need to know about credit union loans and savings accounts, including where to join one and what interest rates you can expect What is a credit union? Credit unions are non-profit financial organisations, traditionally set up by members with some kind of community in common – be it where they live or their […]

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Cash Isa rules and allowances

How to invest your Isa allowance in line with the latest rules, plus your most common Isa questions answered by Which? Money experts. What is the Isa allowance in 2022-23? For the 2022-23 tax year, everyone has an Isa allowance of £20,000 – this is the maximum amount you’re allowed to pay into Isas between 6 April 2022 […]

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Cash Isa alternatives

What if you aren’t sure a cash Isa is for you? We explore the pros and cons of other ways to save. Savings accounts Standard savings accounts may be the next place to look if you like to save in cash Isas. Basic-rate taxpayers can earn the first £1,000 of interest on non-Isa savings tax-free […]

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