Tax Free Savings
Money : Saving If you have reasonable sums of money to save, and if you are a high rate tax payer, then it is particularly important that you use the tax free savings vehicles that are available to you as an investor. Whilst most people think of ISAs there are other tax free savings vehicles you can use. The most common of these are National Savings: you get a fixed rate of compound interest over a period of time, usually five years with these, and this interest is tax free. Therefore this is a good account and if you leave the money untouched for five years there is usually a bonus too. Hence you should consider adding National Savings to your savings profile and get the tax free benefits of this savings account.
Questions about tax planning:
|
|