The 2025/26 tax year ends at midnight on 5 April 2026 and your annual ISA allowance will reset for a new tax year.

If you have any ISA allowance remaining (you can check this in your app) and want to make a deposit within the 2025/26 tax year, here’s the deadlines you need to know.

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Deposit before:

• 23:00 on Tuesday 31 March 2026 — Stocks & Shares ISA

• 23:00 on Thursday 2 April 2026 — Smart Cash ISA  

Deposits that successfully make it into your Chip ISAs before these deadlines will count towards your 2025/2026 ISA allowance.

Any further deposits into your Cash ISA beyond these deadlines, may still successfully land in your balance, but we can’t guarantee it. Successful deposits made before 23:59 on Sunday 5 April will count towards your 2025/2026 ISA allowance.

But please note that there can be unexpected delays, often caused by banks limiting deposits out and circumstances outside of our control. Your deposit is only valid when it reaches our banking partner—see more below.  

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Next year will be the last year you can use your full allowance in cash

In the 2025 Autumn budget the government announced that 2026/27 will be the last year where you put your full £20,000 annual ISA allowance into cash.

From April 2027 onwards you will only be able to put £12,000 of your total £20,000 annual allowance into cash (unless you’re over 65).

So, bear in mind if you do like to put your full allowance into cash, you’ve only got one more year to fill it up.

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Best ways to deposit

Our most popular option for transferring into your ISA is through connected bank transfer. Simply follow the instructions in the app to connect to your provider.

You can also make a manual bank transfer into your Cash ISA, which is best used for making deposits over £5,000.

In most cases, for both of these methods, your money arrives in seconds, but it can take up to two hours.

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Looking to transfer from another ISA?

You can easily transfer an ISA from another provider into Chip’s Cash or Stocks & Shares ISA.

Transfers don’t affect your annual £20,000 ISA allowance, as your allowance applies to new money only, so you don’t need to factor this in regard to the end of the tax year. You’re free to initiate a transfer anytime you like.

Make sure you check our list of approved Cash ISA providers we accept transfers from.

Unfortunately, we are unable to accept transfers from providers not on this list at the moment, but we are adding more all the time.

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Having trouble depositing?

If this is your first ISA deposit, we’ve found our members have the most success making a first deposit of less than £1,000.

Keep in mind that your bank may limit daily transactions on transferring money from your current account to your ISA.

These limits can vary drastically between providers, so check with your bank if you’re looking to move larger amounts.

You may have also set your personal limits on daily transfers, so adjust these accordingly if you haven’t already.

There may also be additional security checks on larger transactions, so factor this in and try and plan ahead.

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“I’m lost, what’s an ISA?”

ISAs are tax-efficient savings and investment accounts that offer tax-efficient exemptions on interest and returns earned within the account.

However, you are limited to depositing £20,000 within a given tax year (which runs April to April). This is your ‘annual ISA allowance’ and it is available on a use it or lose it basis.

You can learn more about ISAs in our quick guide here.

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It’s simple with Chip

Navigating ISAs is easy with Chip. You can have a Cash ISA, Stocks & Shares ISA or both; all accessible in one easy-to-use app.

Our flexible Smart Cash ISA allows you to make unlimited withdrawals and deposits without affecting your £20,000 allowance. Providing penalty-free access to your funds, whenever you need them, with all the tax advantages.

Our Stocks & Shares ISA allows you to effortlessly set up recurring deposits, which are then invested directly into the funds you've selected. This ensures your money is consistently working for you in your chosen investments to build wealth tax-free.

Why do people invest in gold?

Gold has held its appeal for thousands of years and for good reason. It’s often viewed as a safe haven¹ (prices can fluctuate) investment that people turn to during periods of uncertainty.

Here’s why it continues to attract attention from investors:

• Store of value: In times of economic crisis or market downturns, gold tends to retain its worth better than riskier assets.
  
• Hedge against inflation: When inflation rises and currency loses purchasing power, gold has historically maintained or increased its value – acting as a financial hedge.²
  
• Diversification: Gold doesn’t typically move in the same direction as stocks or bonds, making it a useful addition to a balanced portfolio.

¹Investopedia

²Investopedia

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How to invest in gold in the UK

There are several ways to gain exposure to gold, depending on your preferences, budget, and investment goals:

1. Physical gold

• Pros: Tangible, recognised globally, no counterparty risk (the chance that a party to a financial transaction, like a loan, investment, or trade, will fail to fulfill its obligations, potentially leading to losses).
  
• Cons: Needs safe storage, insurance, can be less liquid than other options.

2. Gold ETFs, Gold ETCs and funds

• Pros: Simple, cost-effective, easy to buy/sell like stocks.
  
• Cons: Doesn’t give you access to physical gold. May involve price tracking errors or management fees.

3. Gold mining stocks

• Pros: Potential for higher returns if gold prices rise.
  
• Cons: Company-specific and operational risks. 

4. Gold savings accounts or digital vaults

• Pros: Fractional ownership (an option to share between a number of investors), digital ease, lower entry point.
  
• Cons: May have account or withdrawal fees, and depends on provider trustworthiness.

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Risks and disadvantages of investing in gold 

Like any asset, gold has its downsides. It’s important to understand these before diving in:

• No income: Gold doesn’t pay dividends or interest – returns are confined to price growth (may be subject to Capital Gains tax).
  
  
• Price volatility: Despite its ‘safe haven’ label, gold can still fluctuate in value based on market sentiment, interest rates, or geopolitical news.
  
  
• Storage and insurance costs: Holding physical gold securely often comes with extra fees and responsibilities.

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Historical performance of gold

Gold has historically provided moderate long-term returns, though it can go through extended periods of underperformance. Over the past 20 years, gold has returned an average of ~12% per year.¹

^‍It has historically performed best during:

• Inflationary periods
  
• Currency devaluations
  
• Market shocks or crises
  

¹ J.P. Morgan

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Investing in other precious metals and commodities

Gold isn’t the only option when it comes to tangible assets. Other precious and industrial commodities can also play a role in your strategy.

Precious metals:

• Silver – More volatile than gold, with both monetary and industrial demand.
  
• Platinum & palladium – Used in manufacturing and clean energy tech, offering unique demand drivers.
  

Broader commodities:

• Oil & natural gas – Linked to global energy prices. Prone to sharp swings but still essential to global economies.
  
• Agricultural commodities – Wheat, coffee, sugar, and livestock can offer growth tied to global supply/demand shifts.
  

These can help hedge against inflation or add exposure to global growth – but also carry distinct risks based on weather, politics, or regulation.

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How to invest in commodities in the UK

You don’t need to stockpile barrels of oil or coffee beans to invest in commodities. Here are some beginner-friendly ways to get started:

• Commodity ETFs/ETCs – Track the price of specific goods or baskets of commodities (e.g., gold, oil, agriculture).
  
• Futures contracts – More advanced and high risk – these involve speculating on the future price of a commodity.
  
• Commodity-producing companies – Invest in miners, energy producers, or agricultural businesses.
  
• Physical metals – As mentioned, physical gold or silver remains popular for tangibility and trust.

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Gold and commodities in a diversified portfolio

Commodities behave differently than traditional assets like stocks and bonds – so they can add balance to your portfolio.

They’re often non-correlated, meaning they may rise when stocks fall (especially during inflation, currency shocks, or geopolitical events).

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Investing in gold and commodities summary

Gold and other commodities can be powerful tools for diversification, especially in uncertain economic times.

They don’t generate income like stocks or bonds, but they can help protect against inflation, currency weakness, or financial market shocks.

The right amount for your portfolio depends on your goals, risk tolerance, and time horizon. However, even a small allocation can go a long way in building resilience.

In the next guide of the series we take a closer look at cryptocurrencies and how they work. 

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FAQs

How can a beginner invest in gold?

ETCs, ETFs and other digital options can be great starting points due to their accessibility, low cost, and simplicity.

How do you invest in gold in the UK?‍

‍Options include buying physical gold (bars, coins), investing via ETCs, ETFs or funds, purchasing mining stocks, or using digital vault platforms.‍‍

Is gold the best investment?

Gold is a defensive asset so it can protect against market shocks. Best used as part of a wider, diversified portfolio.

What’s the difference between investing in gold and silver?

Gold is more stable and seen as a store of value. Silver has greater industrial use, tends to be more volatile, but can offer higher returns under certain conditions.

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Direct investment into gold and commodities is not available via the Chip platform.

In this guide, we’ll look into what the Annual Equivalent Rate is, its significance in calculating interest, and how it differs from stated interest rates. By the end, you'll have a clear understanding of the AER and its implications for your savings.

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What Is the Annual Equivalent Rate (AER)?

The Annual Equivalent Rate, commonly known as AER, represents the estimated interest rate you would earn on your savings over the course of a year, assuming the interest is compounded and paid annually. 

It takes into account the frequency of interest payments and provides a standardised measure to compare different savings accounts or investment products on an equal footing. Interest rates explained here.

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How is AER calculated with monthly compounding interest?

When it comes to calculating the Annual Equivalent Rate (AER) with monthly compounding interest, it’s important to know the formula that’s used to calculate this. 

AER =[(1 + (Monthly Interest Rate))^12] - 1

Here’s a breakdown of calculating AER with compounding interest formula: 

Monthly Interest Rate: This is the nominal interest rate offered by the account, expressed as a decimal and divided by 12 (since there are 12 months in a year).

(1 + Monthly Interest Rate): This represents the factor by which your money grows each month. It's 1 plus the monthly interest rate.

^12: This exponent represents the number of compounding periods in a year (12 months).

- 1: Finally, subtracting 1 from the result gives you the AER, which is the annualised rate that takes into account the effect of monthly compounding.

Using this formula, you can calculate the AER for an account with monthly compounding interest and compare it to other accounts with different compounding frequencies to make more informed decisions about your savings.

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How does AER work?

For this example, imagine if you want to deposit £10,000 into a savings account. Account A offers an interest rate of 3.9% paid monthly, whilst account B offers 4% interest paid annually. 

Account A (3.9% interest paid monthly with compounding):

Calculate the AER for Account A:

• AER accounts for the effect of monthly compounding.
• Using the formula: AER = [(1 + Monthly Interest Rate)^12] - 1
• AER for Account A is approximately 4.01%.

Interest earned in one year with Account A:

With a £10,000 deposit, you'd earn around £401 in interest over one year.

Account B (4% interest paid annually):

Since the interest is paid annually for Account B, the AER is equal to the nominal interest rate.

Interest earned in one year with Account B:

With a £10,000 deposit, you'd earn £400 in interest over one year.

Comparison:

• Account A has an AER of approximately 4.01% due to monthly compounding, and you'd earn around £401 in interest over one year.
• Account B offers a flat 4% interest rate, and you'd earn £400 in interest over one year.

In summary, even though Account A has a slightly lower nominal interest rate (3.9% monthly with compounding), its AER is slightly higher due to the effect of monthly compounding.

This results in competitive earnings compared to Account B, which offers a higher flat annual interest rate (4%). Check best interest rates for savings accounts.

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Annual Equivalent Rate vs. Stated Interest

The AER differs from the stated interest rate in that it takes into account the frequency of compounding. 

While the stated interest rate only represents the interest percentage applied to your principal amount, the AER considers the compounding effect and provides a more accurate reflection of the potential returns on your savings.

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Advantages and Disadvantages of the AER

AER offers several advantages:

• Comparability: The AER provides a standardised measure that allows you to compare different savings accounts or investment products on an equal footing, considering the compounding effect.
• Accurate interest calculation: By using the AER, you can estimate the actual returns on your savings over the course of a year, taking into account how often interest is added to your account.‍
• Informed decision-making: With the AER, you can make more informed decisions about where to allocate your savings, as it provides a clearer picture of the potential growth of your money.

However, it's important to be aware of potential limitations:

• Varied compounding periods: Different financial institutions may compound interest at different frequencies, making it crucial to compare AERs for accurate comparisons.‍
• Changing interest rates: The AER assumes that interest rates remain constant over the year, which may not be the case. It's essential to consider the impact of potential interest rate fluctuations on your returns.

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AER Summary

The Annual Equivalent Rate (AER) is a vital tool for accurately comparing interest rates on savings accounts and investment products. By understanding the AER and its significance in calculating interest, you can make more informed decisions about where to grow your savings. 

Remember to consider the AER alongside other factors such as account terms, compounding periods, and potential interest rate fluctuations when evaluating your savings options. See Chip savings accounts.

AstraZeneca, the FTSE 100’s largest company, is powering towards a potential £200 billion valuation this year.¹ The pharmaceutical giant is regaining momentum as tariff concerns fade, with robust earnings and promising clinical trial results reigniting investor confidence.

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What’s driving AstraZeneca’s recent growth?

• Pipeline momentum: Positive trials in new treatment for high blood pressure Baxdrostat, as well as multiple new regulatory approvals across oncology, cardiovascular and rare disease therapies. 
• Strong financial results: Total revenue was up 9% in H1 2025 to £21.3 billion, operating profit rose 23% to £5.46 billion, and pre-tax profit rose 26% to £4.96 billion. 
• Regulatory clarity in China: Investigations into the company’s tax and insurance practices are nearing resolution, with fines expected to be minimal.
• Tariff risk under control: Reassurance on the impact of US trade policy, with tariffs seen as manageable. 

If AstraZeneca continues to post strong earnings results and investors continue their vote of confidence, hitting the £200 billion valuation before the end of the year could be within reach.¹ 

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Why does this matter?

As the FTSE 100’s largest company, solid growth from mega-cap stocks like AstraZeneca is enough to have a positive impact on the whole index. 

Although one stock's growth doesn’t indicate a trend for other stocks in the FTSE 100, it does show us how strong innovation and earnings (even in the face of adversity) can continuously drive value and resilience. 

For long-term investors, AstraZeneca’s rally reinforces the case for focusing on high-quality companies with a history of long-term growth often found in market-cap weighted indexes like the FTSE 100 or S&P 500. 

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Where does Chip come in?

With Chip, you can invest in index funds like the FTSE 100, which track the price of huge companies like AstraZeneca. Companies move in and out of the underlying index based on their market cap (value of total shares), so you can be sure you’re always investing in the 100 most valuable stocks. 

Open a Stocks & Shares ISA or General Investment Account, choose your funds, and you’re away!

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Sources

¹TheMotleyFool

There are many simple and effective ways to cut down on your spending, so you can save more money each month. 

If you're looking for some inspiration on how to save money in the UK, here are five great tips to help you get started. See how long it will take to reach your savings goal with our savings calculator.

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1) Make a budget and stick to it

The first and most important step to saving money is to have a budget. A budget is simply a plan for your money, which helps you see exactly where your money is going.

Make a list of all your income and expenses, and see where you can cut down. 

Once you have a savings budget, make sure you stick to it. This is the key to saving money and keeping your finances under control. Learn about different savings accounts.

This is not financial advice - this is about simple tips to get going, while not impacting your day to day life or living a life of extreme frugality.

So if this sounds like it’s for you, read on!The following should not be taken as advice or guidance around financial hardship. If you're in this situation, there is support available from GOV.UK or Citizens Advice that can help.

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2) Cut down on your food expenses

Food is one of the biggest expenses in many households. By being smart about your food shopping, you can save a lot of money. 

For example, buy food in bulk when it is on sale, and freeze it for later. Consider swapping big brands for own brand products or using discount supermarkets.

Cook meals at home instead of eating out, and bring your lunch to work instead of buying it. These small changes can add up to big savings.

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3) Reduce your energy bills

Another way to save money is by reducing your energy bills. You can do this by washing your clothes at 30 degrees, using energy-efficient light bulbs, and turning off appliances when they're not in use.

Heating is a big expense so turning down radiators and the flow temperature of your boiler to 60 degrees can also help you make big savings over the year. 

There are plenty of resources online such as GOV.UK with tips.

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4) Shop around for the best deals

When it comes to buying things like insurance, broadband, and mobile phone contracts, it's important to shop around for the best deals. 

Don't just go with the first offer you see, take the time to compare prices and find the best deal for you. You can use price comparison websites to make this easier.

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5) Save a little each month

Finally, one of the easiest ways to save money is by setting aside a little each month. You don't have to save a lot, just a few pounds here and there.

Start by setting up a regular amount (on payday for example) to go from your bank account to a savings account and watch your savings grow over time.

Saving money is all about being smart with your finances. By following these five money-saving tips, you'll be able to cut down on your spending and keep more money in your pocket. So, why not get started today?

Several forces are pushing gold higher:

• Global uncertainty: Concerns over U.S. monetary policy, rising trade tensions, and inflation are driving investors toward safer assets. Just in case.²
  
  
• Central bank buying: Countries like China, India, and Turkey continue to stockpile gold, reinforcing its role as a long-term store of value.^{3
  ‍}
• ‍Weaker dollar & rate cut bets: Investors are anticipating future rate cuts, making non-yielding assets* like gold more attractive.⁴

‍*Chip explains: Non-yielding assets are investments that don’t pay you an income while you hold them, so their value comes from the price itself

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Why it matters for you

Gold’s latest rally is a strong reminder of why it has held its place in portfolios for centuries. It isn’t about explosive growth or short-term gains – it's about stability, protection, and balance. 

In times of uncertainty, gold can act as a hedge against inflation and market swings, helping to smooth out the bumps. Think of gold as the solid foundation that can support your more growth-focused investments. 

With prices now* at record highs, the message is clear: gold continues to earn its reputation as a safe haven. For investors, that means confidence that even when markets are unpredictable.

But always remember to take a balanced view. Past performance is not a reliable indicator of future results and the price of gold can go down as well as up.

‍*Accurate as of 2 September 2025 spot gold price at $3,529.01 per ounce.
‍

How Chip can help you take advantage

At Chip, we offer exchange-traded commodities (ETCs) such as Physical Gold, which gives you a way of tracking the price and performance of the gold price, without the costs and admin of owning physical gold bullion. 

If you want to get involved, you can open a Stocks & Shares ISA in minutes. Invest from £1, and manage everything right from our app. Just go to the ‘Invest’ tab to get started.

Source: 1 BBC 2 JP Morgan 3 The National 4 The Economic Times 

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What is an ISA?‍

ISA stands for Individual Savings Account, it’s a tax-efficient account, also known as a ‘tax wrapper’ for a savings or investments account. This means you don’t pay tax on any returns you earn on money held in an ISA. They present a hugely popular way to save and invest in the UK.

There are four kinds of ISAs (more on this later) available and at Chip we offer access to a Cash ISA and a Stocks & Shares ISA - where you pay no tax on your savings interest or UK income or capital gains on returns (or profit) from your investments.

As of April 2024, you can open multiple of the same type of ISA in the same tax year, as long as you stay within your £20,000 ISA allowance.

You can read more about ISAs on the official UK Government website here.

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Who can open an ISA? 

To open an ISA you need to meet the following criteria 

• You’re over 18
• You’re a UK tax resident
• You aren’t a US citizen

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How do ISAs work?

ISAs function in much the same way as a regular bank or savings accounts with the key difference being you can only put a limited amount of money into an ISA every tax year, this is known as your annual ISA allowance.

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What’s my ISA allowance?

All UK residents over 18 currently have an annual ISA allowance of £20,000 per tax year. The tax year runs from 6 April to 5 April the following year. Any unused allowance doesn't roll over into the following tax year. 

For example, if you don’t use your full £20,000 this year (2024/25), and only put in £15,000, you can’t carry the remaining £5,000 over to the next tax year and invest £25,000 into an ISA.

As of the new tax year (2024/25) paying into multiple of the same type of ISA in a single tax year is now allowed.

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What are the benefits of an ISA?‍

• The main benefit of an ISA is that any returns you earn are tax-free. This means you don't need to pay any income tax, capital gains tax, or dividend tax on returns or interest you earn.
• Some ISAs (including Cash ISAs and Stocks & Shares ISAs) can be flexible, meaning you can withdraw and replace cash in the same tax year without it affecting your annual allowance. Not all providers offer this service however, so it’s best to check. Chip’s Stocks & Shares ISA is flexible. 
• You’ll often see the figure of £20,000 in relation to ISAs but this is just the maximum amount you can pay in. You don’t need to have this much available to get started and you can start seeing the benefits of an ISA from as little as £1. 
• You can transfer your ISAs from one provider to another at any time and even transfer between different types of ISAs. If you want to transfer to your Chip ISA from a provider outside of Chip, you must transfer all of it. Unfortunately, we are unable to offer partial transfers at this time.

‍

What types of ISA are there?

There are 4 types of ISA available in the UK. These are Cash ISAs, Stocks and Shares ISAs, Innovative Finance ISAs and Lifetime ISAs.

‍

How many ISAs can I have?

You can hold as many of them as you like but note that your £20,000 ISA allowance covers all of them (not £20,000 per ISA) in a single tax year.

‍

Which ISA might be right for you?

The type of ISA you want depends on your circumstances. A cash ISA may suit you best if you’re looking for easy access to your money and you think you might go over your personal savings allowance in a tax year.

However, it is worth considering that easy-access savings accounts without an ISA wrapper typically offer better interest rates.

If you’re taking a longer term view and are prepared to take on some risk, you can seek potentially higher returns with a Stocks and Shares ISA or an Innovative Finance ISA.

If you’re looking towards buying your first home or retirement then a Lifetime ISA could be the right fit. 

The Bank of England base rate, often referred to as the "Bank Rate," is a critical component of the UK’s financial system, influencing everything from savings and mortgage rates to the broader economy.

Understanding when and why the base rate changes can help you make informed financial decisions.

‍

Why the base rate is important

The Bank of England base rate is the interest rate at which commercial banks borrow from the central bank. It serves as a benchmark for interest rates across the economy, affecting lending and borrowing costs for consumers and businesses alike.

When the base rate changes, it can influence everything from mortgage repayments to savings interest rates and even the cost of borrowing for businesses.

‍

Factors that influence base rate changes

The Monetary Policy Committee (MPC) of the Bank of England, which meets for three and a half days, eight times a year, is responsible for setting the base rate. Several factors influence decisions:

1. Inflation: The primary goal of the MPC is to maintain price stability by targeting an inflation rate of 2%. If inflation is predicted to rise above this target, the MPC may increase the base rate to cool economic activity. Conversely, if inflation is below target, the base rate may be reduced to stimulate spending.
   
2. Economic growth: The MPC also considers overall economic health. Indicators such as GDP growth, employment rates, and consumer spending can influence decisions. During periods of economic slowdown, a lower base rate can help encourage borrowing and investment.
   
3. Global economic conditions: External economic factors, such as global financial markets and international trade dynamics, also play a role. Events like financial crises or significant changes in major economies can impact the UK’s economic outlook, prompting a reassessment of the base rate.
   
4. Financial stability: Ensuring the stability of the financial system is another critical consideration. The MPC evaluates risks to the banking sector and broader financial system, adjusting the base rate to mitigate potential threats.

‍

Who is in the MPC?

The MPC is composed of nine members. These members include the Governor of the Bank of England, three Deputy Governors, the Chief Economist, and four external members appointed by the Chancellor of the Exchequer.

The composition has been designed to ensure a balance of internal Bank of England officials and independent external experts.

‍

When does the base rate change?

The Bank of England’s MPC meets eight times a year to review the base rate. These meetings are typically scheduled every six weeks, although extraordinary meetings can be called if economic conditions warrant immediate action.

The dates of these meetings are published in advance, allowing markets and the public to anticipate potential rate changes.

For the most accurate and up-to-date information, the Bank of England’s website provides a schedule of upcoming MPC meetings and announcements.

‍

The impact of base rate changes

Changes to the base rate can have wide-reaching effects on various aspects of the economy and personal finance. These will affect people in different ways. A base rate change will always be greeted positively by some people and negatively by others. Key areas liable to be impacted by changes are:

1. Mortgages: Many mortgage rates are linked to the base rate. A rise in the base rate often leads to higher mortgage payments for those on variable or tracker rates. Fixed-rate mortgages remain unaffected until the end of the term, at which point a new rate will be set. This rate will be based on the prevailing base rate.
   
2. Savings: When the base rate increases, banks and building societies often raise interest rates on savings accounts, offering better returns to savers. Conversely, a reduction in the base rate can lead to lower savings interest rates.
   
3. Loans and credit cards: Borrowing costs for personal loans and credit cards are also influenced by the base rate. Higher base rates can result in more expensive borrowing, while lower rates make loans and credit cheaper.
   
4. Business loans: For businesses, changes in the base rate affect the cost of borrowing. Higher rates can increase operating costs, potentially impacting investment decisions and expansion plans.
   
5. Currency exchange rates: The base rate can also influence the strength of the pound. Higher rates tend to attract foreign investment, boosting the currency’s value, while lower rates can have the opposite effect.

‍

Preparing for base rate changes

Given the significant impact of base rate changes, it’s important to stay informed and prepared. Here are some steps you can take:

1. Monitor MPC meetings: Keep track of the MPC’s meeting schedule and be aware of the dates when decisions will be announced. Reputable financial news outlets will often provide analysis and predictions ahead of (and in the wake of) these meetings.
   
2. Review financial products: Regularly review your financial products, such as mortgages, savings accounts, and loans. Consider how base rate changes might impact your payments or returns, and explore options for fixed-rate products if you prefer stability.
3. Seek professional advice: If you’re unsure how potential base rate changes might impact your finances, consider consulting with a financial advisor. They can provide personalised advice based on your specific circumstances.
   
4. Stay flexible (where possible): Be prepared to adjust your financial plans in response to base rate changes. This might include refinancing a mortgage, switching savings accounts, or adjusting your investment strategy. It is generally recommended to speak to an expert prior to making any major financial decisions.

‍

Conclusion

The Bank of England base rate plays a crucial role in the UK economy, influencing a wide range of financial products and decisions.

By understanding when and why the base rate changes, you can better prepare for its impacts on your personal and business finances.

Stay informed, review your financial products regularly, and seek professional advice to navigate the complexities of interest rate fluctuations effectively.

What are the biggest companies in the world by market cap?

This list ranks the world’s biggest companies by market capitalisation, the cumulative value of a company's total outstanding market shares. We’ll also be highlighting other key figures, such as the company's revenue, gross profit, and 1-year return (all based on the previous fiscal year). 

Some other key facts such as the exchange the company is listed on, the founding year and country the company is headquartered in are also covered. 

‍

1. NVIDIA Corp.

• Market cap: $4.39 trillion
• Revenue: $148.51 billion
• Gross profit: $104.12 billion
• 1-yr return: +42.87%
• Exchange: Nasdaq
• Year founded: 1993‍
• Country: United States

NVIDIA designs powerful chip solutions supplying various innovative industries:

• AI and datacentres: GPUs that companies like Microsoft and Google use to build AI services. 
• Gaming: ‘GeForce’ graphics cards that power high-quality video games on PCs. 
• Professional & Automotive: Chips for film special effects, car infotainment systems, and self-driving technology.

‍

2. Microsoft Corp.

• Market cap: $3.75 trillion
• Revenue: $281.72 billion
• Gross profit: $193.89 billion
• 1-yr return: +20.93%
• Exchange: Nasdaq
• Year founded: 1975‍
• Country: United States

Microsoft’s software offers a range of services to businesses and consumers:

• Cloud computing: Supply computer power and storage to businesses using their Azure software. 
• Software: The Windows operating system and Office suite (Word, Excel, Powerpoint) powers PCs and productivity for businesses and consumers.
• Gaming: Own Xbox and major gaming franchises like Call of Duty.
• Other: Invest in AI with their OpenAI partnership and own professional social network LinkedIn.

‍

3. Apple Inc.

• Market cap: $3.37 trillion
• Revenue: $408.63 billion
• Gross profit: $190.74 billion
• 1-yr return: +0.67%
• Exchange: Nasdaq
• Year founded: 1976‍
• Country: United States

Apple are a global giant in consumer electronics and digital services:

• Consumer electronics: iPhone, Mac computers, iPads, the Apple Watch, and AirPods.
• Services: App Store, Apple Music, iCloud storage, and Apple TV+.

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4. Alphabet Inc. (Google)

• Market cap: $2.53 trillion
• Revenue: $371.21 billion
• Gross profit: $218.73 billion
• 1-yr return: +25.58%
• Exchange: Nasdaq
• Year founded: 2015‍
• Country: United States

Most of Alphabets revenue comes from advertising on its Google Search and Youtube platforms:

• Google Search & Ads: Core revenue stream comes from selling ads on their search engine and network of other websites. 
• Android: Operating system with widespread applications in mobile devices.
• Youtube: World’s largest online video platform, generating revenue from advertising on videos. 
• Google Cloud: Cloud computing business that competes with Microsoft and Amazon.
• Other bets: Series of investments in future facing projects (Access, Calico, CapitalG, GV, Verily, Waymo, and X)

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5. Amazon.com Inc. 

• Market cap: $2.43 trillion
• Revenue: $670.04 billion
• Gross profit: $332.38 billion
• 1-yr return: +28.53%
• Exchange: Nasdaq
• Year founded: 1994‍
• Country: United States

Amazon’s two main revenue streams are its world leading online store and cloud computing services:

• E-Commerce: Amazon generates profit from selling its own products and charging commission to sellers on their platform. They also make money from advertising on the site and their Amazon Prime subscription services. 
• Amazon Web Services (AWS): Largest revenue source for Amazon comes from its market leading cloud computing services — clients include Netflix and NASA.  

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6. Meta Platforms Inc. 

• Market cap: $1.89 trillion
• Revenue: $178.8 billion
• Gross profit: $146.53 billion
• 1-yr return: +40.30%
• Exchange: Nasdaq
• Year founded: 2004‍
• Country: United States

The social media giant that owns Facebook, Instagram, Messenger, and WhatsApp — nearly all of its revenue comes from the highly targeted advertising that reaches its user base.

• Targeted ads: Driven by data collected from their users base that allows advertisers to target different user groups.
• The Metaverse: Investing billions of dollars developing virtual and augmented reality hardware and software. 

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7. Saudi Arabian Oil Co.

• Market cap: $1.53 trillion
• Revenue: $460.55 billion
• Gross profit: $217.87 billion
• 1-yr return: –14.29%
• Exchange: Saudi Exchange
• Year founded: 1933‍
• Country: Saudi Arabia

State-owned energy giant that is one of the largest and most profitable oil producers in the world:

• Exploration and extraction: Identifying, drilling and pumping sources of crude oil and natural gas, benefitting from having some of the lowest production costs in the world. 
• Refinement and distribution: Refining crude oil into products like petrol, diesel, and chemicals, which are then sold globally.

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8. Broadcom Inc. 

• Market cap: $1.38 trillion
• Revenue: $57.03 billion
• Gross profit: $35.21 billion
• 1-yr return: +78.29%
• Exchange: Nasdaq
• Year founded: 1961‍
• Country: United States

Technology company designing chips for networking and smartphones, and sells essential software to large corporations. 

• Semiconductors (Chips): They design and sell a wide range of chips essential for Wi-Fi and Bluetooth in smartphones (key supplier for Apple), as well as networking equipment in data centers. 
• Cloud services: Large software companies (like VMware) that supply big businesses with IT and cloud computing infrastructure on a subscription basis. 

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9. Tesla Inc.

• Market cap: $1.12 trillion
• Revenue: $92.72 billion
• Gross profit: $16.21 billion
• 1-yr return: –11.15%
• Exchange: Nasdaq
• Year founded: 2003‍
• Country: United States

Tesla is the world’s leading manufacturer of electric vehicles, with further focus on energy and artificial intelligence.

• Electric cars: Main source of revenue and profit comes from their line of EVs like the Model Y, Model 3, Model X and Cybertruck. 
• Energy generation & storage: Renewable energy for consumers and businesses from solar panels and batteries — the Powerwall for homes and Megapack for utility companies. 
• Future goals: A large portion of Tesla’s valuation is based on future plans for technology like full self-driving technology and developing humanoid robots. 

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10. Berkshire Hathaway Inc.

• Market cap: $1.05 trillion
• Revenue: $370.15 billion
• Gross profit: $89.41 billion
• 1-yr return: +8.04%
• Exchange: New York Stock Exchange
• Year founded: 1893‍
• Country: United States

A huge holdings company that owns and invests in a diverse network of businesses.

• Owns companies: Key examples include GEICO (car insurance), BNSF (major American railway) and Duracell (batteries). The profits of all these companies flow into Berkshire. 
• Invests in stocks: They own a huge stock portfolio with large holdings in Apple, American Express, Bank of America and the Coca-Cola Company.
• The Model: They use cash from their businesses profits and stock growth to buy more businesses and stock, creating a powerful cycle of long-term growth. 

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What are the biggest companies by total annual revenue?

• Walmart: $680.00 billion
• Amazon: $637.96 billion
• Saudi Arabian Oil Co.: $479.17 billion
• UnitedHealth Group: $400.28 billion
• Apple: $391.04 billion

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What are the biggest companies by workforce?

• Walmart: 2.1 million
• Amazon.com: 1.56 million
• BYD: 968,870
• Accenture: 774,000
• Volkswagen: 679,470

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Summary

Understanding a company's performance is crucial; it's how you truly know what you own. These metrics directly drive the value of your stocks and funds. When you understand these key drivers, you can navigate market changes with confidence, rather than just reacting to headlines.

Next we’ll be looking at the biggest companies in the United Kingdom by market cap. 

All market data sourced from TradingView as of 26.08.2025.