February 2012

Is your cash ISA pot big and lazy?

If you have been saving using cash ISAs for a number of years you may now have a fairly decent sized investment. Unfortunately, it’s hard to get much of a return at the moment – the best deals are around 3% for instant access or another 0.5% for a two year fixed deal. You may also find that some of your existing ISA special bonus rates have now dropped out leaving with you with as little as 0.5% per annum! Existing cash ISAs can be transferred to a stocks and shares ISA with a new provider. This will allow you to invest in a range of assets including shares/equities, corporate bonds and property without any personal tax on any returns you make. Rossmore Financial Services has a range of investment options which can be tailored to suit your own requirements - so don’t let your funds linger, get them working! One point to note, once you have changed from a cash ISA to a stocks and shares ISA, the process cannot be reversed. Not that you'll probably want to.