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Happy New Tax Year

Discussion in 'General Board' started by WealdDomains, Apr 5, 2013.

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  1. WealdDomains United Kingdom

    WealdDomains Active Member

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    On a previous occasion elsewhere I light-heartedly suggested New Tax Year Resolutions as a second bite of the cherry when New Year Resolutions have failed : success is more likely as the Hogmanay hangover has healed, the days are longer and the weather is, um, better. Well, glossing over the latter, the new tax year starts in a few minutes in the UK, so Happy New Tax Year everyone and good luck if you choose to use this as a trigger to revisit your own personal, professional and financial resolutions too :)
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. Edwin

    Edwin Well-Known Member Exclusive Member

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    If you're in the fortunate position of having spare money to tuck away in an ISA, then:
    - Invest as early as possible if it's a cash ISA (to get a whole year's interest)
    - Consider splitting your investment into 12 equal monthly installments (standing order) if it's a stocks and shares ISA to take advantage of "pound cost averaging"
    - Remember never to take money out of an ISA if you want to put it in a different ISA - you must transfer the ISA to protect its tax-free status

    Happy saving :)
     
  4. scooter United Kingdom

    scooter Well-Known Member

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    Or buy gold.
    Like property, long term investment means it is always a win win.

    10 years ago it was on a "high" of £300 per oz. Recently it has been on a "low" of £1000 per oz.

    I do not have a lot of savings but i'm buying gold for my childrens uni/college fees in a few years time. I'm confident it will far outperform ISA's




    .
     
  5. hal

    hal Active Member

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    An ISA is just a tax wrapper, not a type of investment.

    If you have a shares ISA you can also use it to invest in gold by buying gold ETFs which are physically backed. Although there could still be some counter-party risk if the shit really hits the fan.

    With actual physical gold, there is also no capital gains to pay if you buy gold sovereigns.
     
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