You don’t have to set aside a fortune to save in an ISA
QIS there a minimum amount you must pay into an ISA? I want to start saving but I can only afford around £10 a month currently.
AYOU can contribute as little as £1 per month into most Cash ISA providers. However, for Stocks and Shares ISAs there is usually a minimum of around £25 per month.
QI READ recently that the tax relief on pensions was changing. I didn’t hear anything in the Budget – was it hidden in the small print?
ATHIS has been a hot topic for some time now and there was a lot of speculation ahead of the Budget that the Chancellor might change it but I am not aware of any planned changes.
QMANY financial firms are offering help to people who may have issues due to the Coronavirus.
These include mortgage payment holidays or relief around loan repayments and access to savings locked up in bonds without any penalties.
You will need to contact the firms you have products with to find out what help they may be able to offer you and the terms for that support.
QI’VE got a holiday booked later in the year. I am hoping to still get away. Will my travel insurance policy still cover me? I heard that some firms are stopping travel cover.
Ainsurance and some have changed the level of cover on new policies to exclude issues around the Coronavrius.
But this is for new policies and new trips booked very recently, rather than existing policies.
If you have an existing policy, you will need to check the small print to ensure you are fully covered before you travel or if you need to cancel a trip. I’d contact your insurer.
QTHE investments will usually pass to the beneficiary but lose their tax-free status. However, some providers may even sell the investment and pay out in cash. There are investments with capital guarantees or similar, but you may have to transfer those.