Anna’s Accountancy Alerts – Week 13 (24th – 30th June 2024)

Stocks and shares

Stocks and shares Isas

As of 6 April, you can now open and pay into more than one of the same type of Isa in the same tax year (the £20,000 overall allowance remains). You can also now partially transfer investments in an Isa across from one provider to another.

Four providers – Freetrade, Moneybox, Monzo and Plum require just £1 to invest in any of their available products. These platforms are generally aimed at beginners, offering an app-exclusive investing experience.

Savings income

There’s no need to do a tax return unless the interest you receive, outside of Isas, is more than £10,000. The system now is that the banks and building societies will inform HMRC of the interest they’ve paid out. HMRC will collate this, and if there’s any more tax to collect it will change your tax code and collect it the following year.

How to save on holidays abroad

(from Which? Money May 2024 issue)

Time your booking
If flying outside of Europe, you’ll often find the best prices five to six months before your departure date.

Within Europe, flights are usually cheapest between three and five months in advance.

When booking car hire, opt for a rental provider or broker that offers free cancellation, so you can check prices again as your trip gets closer.

Explore alternative destinations
Try the ‘explore’ tool offered by Google Flights – the flight comparison site. You pick dates, the number of travellers and duration of your holiday, you’ll be shown a range of destinations on a map, with prices included – for flights as well as accommodation.

Foreign hotel chains
Try Motel One – a German budget chain with hotels in many European capitals, including Copenhagen, Paris, Prague and Vienna. You usually get the cheapest room rate if you book direct as it doesn’t sell cut-price rooms to booking sites.

Alternatively, Logis Hotels, a 75-year-old French organisation, lists around 2,000 independent guesthouses on its website, offering visitors the chance to stay in a chateau or rural, family-run property.

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