Short YouTube advice clip by Ndubuisi 'Andy' Egwim on Individual Savings Accounts (ISAs). The speaker reminds viewers that the UK tax year runs from April 6 to April 5 and stresses choosing ISAs with the lowest possible fees (ideally zero). He warns that some providers hide fees (example cited: ~2%) and that fees compound over time, reducing net savings.
April 6th.
April 5th.
Approximately 2%.
Yeah. So can I just say quickly the taxes starts April 6th and ends April 5th. So it's really quite important to know these things because that determines when you can open an isa. The second thing which I is really important is that you want the lowest fee possible. You want an ISA account that has the possible the lowest fee possible. If it's zero better. So for those of you who want to check out an isa, I'm not sure which one. If you've got one already that's great if your bank provides one. But you need to check the fees because some of them hide under ISA and then they charge you like 2% or some random fees. So that's really important because fees matter. Obviously if you are paying remember we talked about tax, someone is paying 24% but if you're also paying 2, 2%, 30% in fees, I'm not paying any fees. Over time it compounds so I hope that helps.
