By Newspage · · Updated
STAGING TEST story. Savers are moving cash into ISAs ahead of the Budget, according to David Tester, who said clients should keep an emergency fund and use this year's ISA allowance first. David Free 3 added that easy-access rates often fall after a Budget, so savers should compare accounts now.
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Answers from David Free 3 at yolkstudio.com
STAGING TEST answer. Moving savings into an ISA before the Budget can make sense if you have not used this year's allowance, because interest inside an ISA is tax-free. Keep enough in an easy-access account for emergencies first, then consider a cash ISA for money you will not need soon. Rules can change at a Budget, but money already in an ISA usually keeps its tax-free status.
STAGING TEST answer. Savings rates follow the Bank of England base rate more than the Budget itself, but banks often adjust rates around big announcements. If you find a good easy-access or fixed rate now, it can be worth locking some of it in. Compare accounts regularly and check whether a rate includes a short-term bonus.
These answers are general information, not financial advice.
The question we put to Newspage’s experts, and their answers.
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Based on analysis by David Tester: Read the full analysis
This is a staging test alert for the Story Source feature. I am writing a piece on whether savers are moving cash into ISAs and premium bonds ahead of the Budget, and I would like short, practical comments from advisers.
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