Archived article: This article was correct at the time of publishing. Tax, investments and pension rules can change over time so the information below may not be current.

Bring in the New Year by getting your finances into shape

For many people, January is traditionally a time to detox and lose a few pounds after the Christmas excesses. At Bestinvest we think it’s a better idea to concentrate on getting your finances into shape. This is why we’ve brought you five easy ways to do just that. Best of all, none of them involve shelling out for a gym membership, braving the cold weather or gulping down a luminous green ‘detoxifying’ drink.

Use your ISA allowance

You can currently invest £20,000 tax-free in your ISA. But you need to act before 6 April or you’ll lose this tax year’s allowance. Opening an ISA is quick and easy – it only takes five minutes to complete our short online application form. And you can even eat those leftover festive chocolates while you’re doing it. If you’d prefer not to open an ISA online, you can download the paper application forms or call us on 020 7189 2400.

Take control of your pension by opening a SIPP

Opening a SIPP is a great way to take control of your retirement savings. You can easily see how much you’ve saved and how your investments are performing, with access to a huge range of investment options. Don’t forget that the Government tops up your pension contributions by up to 45% too. Find out more about our award-winning Best SIPP in this free guide.

An easy way to get on top of your investments

Buying a Ready-made Portfolio is the easiest way to get on top of your investments in 2018. The portfolios are built and managed by our team of experts. They make all of the investment decisions, leaving you more time for the things you enjoy. Simply choose the portfolio that suits you best.

Get your money working hard for you

Many people will be working hard to lose weight or get fitter this month. But you don’t need to do any press-ups or go jogging to get your money working hard for you. Simply make sure it is invested with a good fund manager. If you need inspiration, you can find a collection of our research team’s best fund picks by downloading a copy of Our Top-rated Funds.

Tidy up your investments

Clearing up Christmas clutter can be a long and arduous task – but it doesn’t take much effort to tidy up your investments. Simply consolidate them with one provider and you’ll benefit from:

  • Easier management and reviewing of your investments
  • Less paperwork and fewer usernames or passwords to remember
  • Lower fees if you choose the right provider

To bring your investments together with Bestinvest, just complete this short form and we will be in touch to get the ball rolling. We will do all the legwork for you, and we’ll also pay you up to £500 for any exit fees your current providers charge*.

Start saving more often – without lifting a finger

Regular savings are an effortless way to make contributions into your ISA, pension or Investment Account this year. They come out of your bank account automatically each month – you just need to select a cash deposit or an investment into a fund. Then, you can put your feet up and relax in the knowledge that you’ll be investing regularly throughout 2018. To set up regular savings you will need to open an account and log in.

Important information

*Exit fees may apply if you close your Bestinvest account.

Before you consider transferring a pension, it is important to ask yourself: Will I lose any valuable benefits or features from my existing pension plan? Will I incur any penalties on my existing pension if I transfer? Is it an occupational final salary pension scheme? (in which case it is very unlikely to be advisable to transfer) Have I considered the charges on my current plan? (a new arrangement may be more expensive – especially if you have a stakeholder pension).

SIPPs are not suitable for everyone. If you don’t want to invest across different asset classes or don’t think you will make use of the investment choices that SIPPs give you then a SIPP might not be right for you. Please contact us for guidance or advice if you are unsure whether a SIPP is right for you.