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Anna Bowes is a regular contributor to the BBC’s Money Box, Breakfast and News programs, as well as the national press, providing expert analysis and commentary on the UK savings market. Anna has worked in the financial services industry for more than 20 years and for most of that time has been helping people to make the most of their savings. |
It’s that time of the year again. When we take stock of the new allowances available to us, but also the things that are due to increase in cost.
We have provided a whistle-stop tour of some of the key changes that have already taken effect or are due to do so from today.
🔖 Read: New tax year, new tax allowances and price rises – are you a winner or a loser?
One controversial cost increase that has been put on hold for now is the change to Probate fees - from the current flat rate structure to one that is based on the value of the estate - which could see a rise of over 2500% for some estates.
Due to other priorities at the present time, this process has not been completed, so there is a temporary reprieve and process in place for applying for probate.
🔖 Read: Probate fee price hike postponed
The new tax year means that a new £20,000 cash ISA allowance is now available.
But many people find themselves rushing to use up their allowance in the last few weeks or even days of the tax year.
Why not make the most of this tax-free savings allowance by opening a new cash ISA ASAP?
🔖 Read: When’s the best time to use my cash ISA allowance?
Nationwide has this week withdrawn from sale its market-leading Flex Regular Online Saver.
But there are other options available if you are interested in putting away a little bit each month.
🔖 Read: Best buy regular savings account from Nationwide withdrawn
Finally, if you’re currently weighing up your savings options, take some time to catch up with the latest top rates in our regular Rates Rundown feature.
🔖 Rates Rundown: a sprinkling of best buys add flavour to the week
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