Explainers

The bits nobody explains properly.

Short answers first. Read on only if you need to.

Is an ISA actually worth it for me? Often not, if you are a basic-rate taxpayer with under about £22,000 saved. Cash ISA or stocks and shares ISA? Cash for money you need within five years. Shares for money you do not. What is a Lifetime ISA, and what is the catch? A 25% government bonus on £4,000 a year — with a lock and a penalty attached. Fixed, notice, or easy access? You are paid for giving up access. Only sell access you genuinely do not need. What does FSCS actually protect? £120,000 per person, per authorised firm — and brands can share one licence. Are Premium Bonds any good? The 4.35% is an average, not a rate. Most holders get less than it. How do I move an ISA without losing it? Ask the new provider to transfer it. Never withdraw the money yourself. What is changing in 2027 and 2028? The cash ISA allowance falls to £12,000, and the Lifetime ISA is replaced.

General information about savings and tax, not advice about your situation. Rules and rates change — each page carries the date it was last checked.