Our guide to tax when you’re gifting money to children. We explain the guidelines and how parents might avoid falling foul of the ‘£100 rule’. Do children pay income tax on their savings? Technically, yes – children are obligated to pay tax on savings, as they have the same income tax allowance as adults. It’s uncommon, though, as children […]
What if you aren’t sure a cash Isa is for you? We discuss the benefits and downsides of various ways to save. Savings accounts Standard savings accounts may be the next place to check if you want to save in cash Isas. Basic-rate taxpayers can earn the first £1,000 of interest on non-Isa savings tax-free […]
Under the new inheritance laws for Isas, you can learn how to transfer your Isa savings to a spouse or civil partner without having to pay any taxes on the transfer. Do I have a chance to inherit an ISA? If your spouse or partner passes away, it is likely that you will be able […]
Is it possible that the personal savings allowance could render cash Isas obsolete? If you want to determine whether cash Isas are still a viable home for your money, read the guide to tax-free savings that was published Do I still need an Isa? The individual savings account and the regular savings account are now […]
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