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Episode 489 Podcast Summary
The cheaper alternatives to Vanguard - Stocks & Shares ISA, Personal Pension and General Investment Account compared
Summary:
Vanguard has announced that it will be introducing a minimum fee of £4 per month on its self-managed products from the 31st January 2025. The change has angered many loyal Vanguard investors who were drawn to the platform due to its low fees. It means that anyone with a self-managed ISA, Pension or General Investment Account with a portfolio worth less than £32,000 will see their fees rise. To provide some context, those with a portfolio of around £8,000 will see their annual fees quadruple, from £12 to £48 per year.
I explain how Vanguard's fees are being restructured and provide a comprehensive analysis of the best alternative investment platforms based on varying portfolio sizes. Using a number of easy-to-read heatmaps, I breakdown the costs of investing in a Stocks and Shares ISA, Pension and General Investment Account with alternative platforms, many of which will be far cheaper than investing via Vanguard directly.
Key Insights:
- Check out our article 'The top alternatives to Vanguard' for further information and access to all of the heatmaps discussed in the podcast
How to check your credit report for free
Summary:
In this section Iexplain the importance of regularly reviewing your credit report from the three main credit agencies - Experian, Equifax, and TransUnion. It is important to note that there is no universal credit score, as each agency uses its own scoring system. Reviewing your credit reports annually is crucial, as any mistakes or inaccuracies could impact your ability to borrow money in the future.
Key Insights:
- Experian: Take out a free trial or use the MSE Credit Club for free access to your full Experian credit report
- Equifax: Utilise the free service from ClearScore to view your Equifax credit report.
- TransUnion: Check your report for free through services like Credit Karma or Monzo.
Tax implications when selling online
Summary:
In the final segment of the show, I explain the tax considerations for individuals who sell personal items online through platforms like Vinted and eBay. Occasional selling of unwanted items typically does not incur taxation, but if your annual gross income from online sales exceeds the £1,000 trading allowance, you will be required to register for self-assessment and declare the earnings. New reporting requirements mean platforms like Vinted and eBay will now share seller data with HMRC. This applies to those who sold 30 or more items or earned around £1,700 in 2024.
Key Insights:
- Occasional selling of personal items is typically not taxable
- £1,000 trading allowance before self-assessment required
- Online platforms now sharing seller data with HMRC
- Important to maintain detailed records of sales and expenses
- Seek professional advice if unsure about tax obligations
Episode quiz
Questions
- What is the new minimum monthly fee Vanguard is introducing on its platform?
a) £2
b) £4
c) £6
d) £8 - For larger pension portfolios (over £104,000), which platform is noted as the cheapest for investing in Vanguard LifeStrategy funds?
a) AJ Bell
b) Fidelity
c) Vanguard
d) Interactive Investor - InvestEngine offers a range of ready-made portfolios that are similar to the Vanguard LifeStrategy fund range. What are they called?
a) LifePlans
b) StrategyPlans
c) InvestorPlans
d) PortfolioPlans - Which credit reporting agency provides a credit score range from 0-999?
a) Equifax
b) Experian
c) Transunion
d) All of the above - What approximate sales threshold triggers the new reporting requirements from online selling platforms?a) 20 items or £1,000 in earnings
b) 25 items or £1,500 in earnings
c) 30 items or £1,700 in earnings
d) 35 items or £2,000 in earnings
Answers
- b) £4
- d) Interactive Investor
- a) LifePlans
- b) Experian
- c) 30 items or £1,700 in earnings
Resources
Links referred to in the podcast:
- Vanguard introduces minimum fee for DIY investors
- Best Vanguard ISA and Pension alternatives (including heatmaps)
- Cheapest Stocks & Shares ISAs in 2025
- Best & Cheapest Pensions in 2025
- Investment platforms paying the highest interest on cash
- InvestEngine review (including how LifePlans work)
- Best ISA cashback offers (and fee-free deals)
- Best pension cashback offers (and fee-free deals)
- How to check your credit report for free
- Experian Boost review
- Tips for completing your self-assessment tax return for 2023/24
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