Happy new tax year!

The new tax year has arrived, meaning you have brand new allowances that are ready to be used. We have some great ideas for how to make the most of them early on and to take control of your investments.

The early bird catches the worm

There are many reasons to start making the most of your allowances as soon as possible. Your investments will grow tax-free for longer so you could get a higher return. You will also avoid frantically trying to use up your allowances at the last minute. This year, you can invest:

  • £20,000 in an ISA
  • £4,260 in a Junior ISA
  • Up to £40,000 in a pension
Open an ISA Open a SIPP

Don’t have a lump sum to invest? Set up regular savings instead

Like many, you may not have a lump sum to invest. Alternatively, you can set up regular savings where money is automatically taken each month – you don’t need to do anything else once it’s in place. Regular savings can also help to smooth out the ups and downs of the market.

Open an account

Consolidate to make the most of your money

With ISAs and pensions, quality is more important than quantity. If you have many different ISAs and pensions with different providers, consolidating them could be a great way to make the most of your money without investing another penny*. You’ll benefit from:

  • Simplicity – with your investments under one roof, it’ll be easier to see how they are performing and make any changes
  • Low fees – with one low-cost provider, you may be able to save more money for what matters rather than spending it on many different providers’ fees
  • Less paperwork – you’ll spend less time filling out forms and taking care of paperwork

It’s easy to transfer your ISAs and pensions to Bestinvest – we take care of everything and we’ll also pay you up to £500 towards any exit fees**.

Find out more Start a transfer

We’re here to help

If you have any questions about your allowances or opening an account, we’re here to help you. Please call us on 020 7189 9999 or email best@bestinvest.co.uk.

 

Important Information

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. Self-directed investors should regularly review their SIPP portfolio, or seek professional advice, to ensure that the underlying investments remain in line with their pension objectives.

*Before transferring pensions, you should ask yourself: Will I be charged or penalised by my existing provider for transferring? Will I lose any valuable features or benefits if I transfer? Have I considered my current pension charges, and could consolidating be more expensive? Am I part of an occupational final salary pension scheme? (In which case I would most likely be better off not switching).

**Please note, if you decide to leave Bestinvest, exit fees may apply. Terms and conditions apply.