Michael Sheath

@Southdownsrider @MartinSLewis @itvMLshow If you put it in pension it's locked away until you can access your private pension, but you can claim tax relief on it which will be a big uplift. Depends how old you are and what you want the money for in future to decide where best to put it

@MartinSLewis @itvMLshow I have 10k to invest, not sure what to do, either top up my company pension scheme or invest in a shares Isa, don't need to touch the money for at least four years.

Do you have questions on Shares ISAs - perhaps you've always considered them but been nervous. That's my big topic on next week's @itvMLshow and I'll be joined by specialists to answer your questions. So please ask by reply...

@ReeceCards @MartinSLewis @itvMLshow The issue is that investing is a regulated area and only qualified professionals can give personalised advice about suitable products for people...

@MartinSLewis @itvMLshow i invest weekly. but i think if you gived some advice like the sap 500 and type of funds like vanguard offer. since some people need direction

@Danielson74 @MartinSLewis @itvMLshow As long as its all within the ISA wrapper then there is no tax to pay on any gains.

@MartinSLewis @itvMLshow I’ve got a Halifax investment isa that I opened over a year ago. It says to look to invest for 5 years. Do you know if I close it now, there will be tax implications, please, Martin? Many thanks ☺️

@liberotas1 @MartinSLewis @itvMLshow He is trying to raise awareness, the issue is that its a regulated area so only qualified professionals can give personal advice, agree that better education would improve peoples protection from inflation risk 👍

@MSheath @MartinSLewis @itvMLshow 100% agree, my point was I think Martin should be highlighting this more to people. People see investing as risky gambling but the bigger issue is inflation risk

@liberotas1 @MartinSLewis @itvMLshow £1000 initial lump sum put in savings at 3% interest over 5 years when inflation is 3% each year (hypothetically) gains no value at all in real terms. The S&P500 grew 23.31% alone in 2024 (doesn't mean it will in future though) Investing over a long term should beat inflation 👍

@MartinSLewis @itvMLshow Could you explain the balance between inflation risk (essentially the risk of not investing in comparison to investment risk

@lfce11 @MartinSLewis @itvMLshow It's not demonised, it's just that we have rules that say we have to tell people their money is at risk if they choose to invest. That's technically true but also unlikely if investing in a broad spread of investments over a longer term, but the term 'risk' is what scares people

@MartinSLewis @itvMLshow Why is investing into the stock market demonised as opposed to encouraged within the UK? Are we just financially ignorant? It ties into the fact that most people don’t check their pension funds, or even have any idea what it is invested in

@ShadowEerie @MartinSLewis @itvMLshow As long as the investments are held in a stocks and shares ISA there are no taxes to pay when withdrawing.

@MartinSLewis @itvMLshow What taxes are people liable for if they take one out, e.g. dividend tax, capital gains tax, help people understand this and it might go a long way to changing peoples attitudes to them.

@MissCharleneE @MartinSLewis @itvMLshow Shares are risky in the sense that yes they can go down in value. That's why it's only really beneficial if you are looking to invest for a significant period of time (5 years plus) as over the longer term shares tend to outperform savings

@MartinSLewis @itvMLshow Hi. I’ve always had cash ISAs but am unsure about shares ISAs. I’m concerned my money willl be at risk if the shares go down. Are there any guarantees to protect my money? What advice would you give to someone who is new to shares ISAs so they can choose the best account? Thanks

@yesprimemonster @MartinSLewis No, if you've ever bought a house before then you're not a first time buyer :)

@MartinSLewis Does the Statute of Limitations apply to this new product? By which I mean if you last bought and sold a house six years ago or longer does it reset the clock so you are classed as a first time buyer? I fell foul of this with the Help To Buy scheme - I last sold my house in 2001.

Treasury has apparently confirmed (source AJ Bell) the LISA will be replaced by a 1st time buyer only product. Little detail yet & none on what it means for those with existing LISAs/ Help 2 Buy ISAs. My guess is this will start 2027. Got Qs? Ask below I'll try to cover in tmrws pod

@sacredsquirrel @MartinSLewis Pretty sure this is impossible, the bonus is only for a house purchase, not clearing down a mortgage debt.

@MartinSLewis Thanks. In the new product they also need to consider real life scenarios. I have a LISA. My wife owns our flat. I’d love to use my LISA to pay off part of the mortgage in that flat. No one in the ‘system’ knows if this is possible.

Do you have a Lifetime ISA or Help to Buy ISA. If so do give this a listen, change is a coming. Feel free to share

@AnnDolly5572 @MartinSLewis Yes, but only one can be used for a first time house purchase

@MartinSLewis Can you have a help to buy ISA and a LISA ? Please advise

The govt's confirmed plans for a new 1st time buyer savings to replace the LISA & Help to Buy ISA. This is a snippet from my new podcast on what it means, especially if you’ve already got a LISA or H2B, listen on bbc.co.uk/sounds/play/p0…, Apple, Spotify & all usual pod players

@Wolfiesmith61 @MartinSLewis No, because then it would be counted as earnings twice, once as income and once as a capital gain. Any capital gains over the tax free allowance is taxed at a rate based on your incomes marginal rate

@MartinSLewis Yes please. With capital gains tax. There are two rates. Higher rate tax payers and basic rate taxpayer. Do they count the capital gains as part of your income to determine whether you're a higher rate tax payer?

Do you have personal tax questions (income tax, self employment, capital gains, inheritence) including on what to do with tax returns before the 31 Jan deadline? I'll be joined by tax specialists for my podcast this week, so send your questions by reply here or via martinlewispodcast@bbc.co.uk and Pod Producer Matt will collate :)

@Mariusz_Invest @MartinSLewis There could be many but the main risk would likely be that you would miss out on years of investment growth and compound interest in that time

I’m 45 and currently prioritizing ISA growth for liquidity. My plan is a ‘7-year SIPP catch-up’ starting at age 50 to maximize tax relief before retirement. What are the potential tax risks of delaying large pension contributions until the last decade of work, especially regarding changes to the 25% tax-free lump sum cap?

@OriginalRobyn @MartinSLewis Fair enough. An eligibility checker would possibly let you see if any other lenders would have given a bigger limit but limits are generally down to your income and credit score that they see when doing their hard search as part of the application...

@MSheath @MartinSLewis I went on the MSN website first but I had also seen the card deal on their updates the week before so went directly

Debt Masterclass: Slash cost of existing Credit Cards, Overdrafts, Loans, BNPL. Plus aaargh, I cock-up the capital gains Money Mastermind; Tell Us your year's financial goals & far more. NEW POD Listen here podcasts.Apple.com/gb/podcast/the… open.Spotify.com/show/6tsU1ycEN… BBC.co.uk/sounds/brand/p…

@OriginalRobyn @MartinSLewis Did you go on to an eligibility checker to find the new card or just applied directly with one lender?

@MSheath @MartinSLewis Thank you, I think that will have to be the plan for now, maybe banks are just not letting you move bigger amounts any more.

@OriginalRobyn @MartinSLewis If it makes that small amount cost you less in interest then it's still a saving, even though only a small one. Will mean you have smaller higher interest debts to pay down before moving to lower interest ones.

@MartinSLewis I was so ready to transfer a balance, got a new credit card but they only gave me a tiny limit so doesn’t feel worth moving anything. So frustrating

@curlychew @MartinSLewis @itvMLshow Depends on the level of volatility you're willing to experience, tech and AI fluctuate a lot but can grow quicker than other stocks but you have to be comfortable seeing it go up and down a lot. A global tracker will track the global stock market which is generally less volatile

@MSheath @MartinSLewis @itvMLshow It’s all goons be 5-10yrs+, I was more on about the volatility in the different sectors

Got questions on rebooting your finances for the new year? @itvMLshow is back 9pm tomorrow & I'll be taking you through big n easy savings (cards, energy, overdrafts, council tax, savings) but the rest is an ask me anything. What do you want to know? Pls reply & team'll collate

@devineknighter @MartinSLewis @itvMLshow If you're a higher rate tax payer then going down to a basic rate tax payer will reduce the rate of CGT you pay, but you'll still pay it on everything over £3k of gain you make in a tax year

@MartinSLewis @itvMLshow I have invested in crypto is there a way of legally avoiding CGT. Or would I be best to give up work so not paying tax so I won’t pay as much CGT

@van_4444 @MartinSLewis @itvMLshow Under 18's can only have junior ISA's. When they turn 16 they take over the account, and when they turn 18 they can access the money and it turns into a normal adult isa.

@MartinSLewis @itvMLshow Can I open a regular stocks and shares ISA for my 11 year old daughter as I don’t want to lock the money away in a Junior ISA?

@emmacdell @MartinSLewis @itvMLshow About 6 months before the deal ends you can start looking at new deals. A mortgage advisor can do this for you, and if they secure a deal but then a cheaper rate comes available they should be able to get the cheaper rate for you too before the new mortgage starts

@MartinSLewis @itvMLshow My mortgage rate of 2.59% ends in December after 10 years when is best to look for a new rate