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ISAs

(27 Posts)
Luckygirl Fri 08-Jan-16 11:32:46

I am a complete money ignoramus but last year I did invest in the 65+ bonds and also bought ISAs in February.

I have trawled the internet to find out when is the best time to invest in this year's ISAs - am I supposed to do it in February again; or can I do so when I will? And if so, which is the best month to do this in to get the best tax benefit? Do I have to wait till after February?

If any of you money wizards haver an idea about this, I would be very grateful for your thoughts.

harrigran Sat 09-Jan-16 13:38:33

The 65+ bonds are not tax free, it will be deducted and you will have to claim it back. ISAs are a good way of saving and when the term is up you can reinvest, at intervals I consolidate mine when I find an establishment with a favourable interest ate. Moving ISAs is easy, the bank does all the work, you just sign the authorisation.
It is a great shame that Index linked certificates are no longer available, they go on indefinitely for those already owning them, just reinvested every three and five years as they mature.
Bit sexist saying find a man to deal with finances, I am very happy with the way in which I manage mine.