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The Martin Lewis Podcast
Beat the urgent ISA deadline – top cash ISAs for savers, stocks & shares for investing
Mar 20, 2025
In this engaging discussion, Ed Marshall, a Chartered Financial Planner at Dean Wealth Management, shares his insights on stocks and shares ISAs. He and Martin dive into the critical deadline for ISAs, explaining the tax benefits and strategies for maximizing savings. They also discuss the complexities of backbilling in energy bills and consumer rights. From lightbulb moments in personal finance to tips on transitioning from child trust funds to junior ISAs, this conversation is packed with valuable advice for both savers and investors.
01:15:37
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Quick takeaways
- Utilizing an ISA allows individuals to save or invest up to £20,000 tax-free annually, maximizing potential savings before the April deadline.
- Backbilling regulations highlight consumer rights against energy suppliers, with calls for better education and oversight to protect customers from unexpected bills.
Deep dives
Understanding ISA Basics
An Individual Savings Account (ISA) primarily functions as a tax wrapper rather than a product. It allows individuals to save or invest up to £20,000 per tax year without incurring taxes on the interest earned. The important distinction is that while you can deposit up to this limit annually, the ISA protects any gains from income or capital gains taxes within that wrapper. As such, it is advisable to utilize this allowance each year, especially before the tax year deadline of April 5, to maximize savings potential.
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