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Newsletter - February 2008

February 2008 Trading & Investing Newsletter

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Page 7

It's Now ISA Season - Some Important Changes To Note & Some Good Deals

It's now time for savers to consider their ISA (Individual savings Accounts) options and from 2008 onwards there are a few important changes to note -

  • The confusing Mini/Maxi ISA classification is going to be replaced with a Cash ISA and a Stocks & Shares ISA

  • You can invest a total of £7,200 in any tax year but only a maximum of £3,600 can be invested in a Cash ISA

  • It is possible to invest the full £7,200 in stocks but then no Cash ISA is allowed

  • PEPs (Personal Equity Plans) are being scrapped and investments currently held in PEPs will automatically be transferred into a Stocks & Shares ISA with the tax benefits still intact

  • Money held in a Cash ISA will now be allowed to be transferred into a Stocks & Shares ISA but the same money cannot be transferred back

  • Money will not be allowed to be transferred from a Stocks & Shares ISA into a Cash ISA

Stocks & Shares ISA Deals

TD Waterhouse are offering at present a £0 annual admin fee for Stocks & Shares ISAs above £3,600 in value. They say the offer is available indefinitely but it might be wise to check out the small print. Commissions for buying or selling are I think are around £10 each for each trade.

Personally I don't know much about TD Waterhouse but they might be worth checking out if your current ISA broker is charging a large annual fee. Barclays and Halifax apparently levy an annual fee in excess of £100.

A Good Cash ISA Account

We like the following Cash ISA account mainly because it's flexible in that money can easily be transferred in and out from different Cash ISA accounts -

  • Scarborough Building Society Direct Notice ISA
  • Cash ISA paying 6.3% with a guarantee that it will remain at least 0.25% above base rates till April 2009
  • After that the account will track the base rate until April 2010
  • Minimum investment is £1,000
  • Should you wish to withdraw any money you can either give 30 days notice or lose 30 days of interest

In Next Month's Newsletter

  • Our views on the current and future potential of property
  • Watch out for the Land Banking companies - they're showing plenty of form
  • More on Google (this shouldn't be missed)
  • How to build an inflation proof savings account
  • Plus much more.....

We hope you enjoy this month's newsletter.

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