Tax efficient on savings and investments

If you save or invest money, you'll normally have to pay tax on the interest or income you get, but there are some savings and investments that give you a tax-free revisit. If you're on a low income, you may not have to pay tax at all.

ISAs (Individual Savings Accounts)

ISAs be tax favoured savings and investment accounts. You can use them to save money, or invest in stocks and shares. The utmost you can put in to an ISA is £7,200 in each tax year.

You don't pay any tax on the interest or dividends you get from an ISA and any profits from savings are free of Capital Gains Tax. But this does signify that you can't use losses on ISA investments to reduce Capital Gains Tax on profits from investments outside the ISA.

National Savings & Investments

National Savings and Investments tender a totally safe way of saving and investing money because it's backed by the Treasury.