Saving Money

• ISAs

ISAs offer a way for saving money (normally a certain amount per annum) while avoiding income or capital gains taxes.

An ISA offers up to three options, or components, for investing. Gilts or corporate bonds, as well as stocks and shares may be selected as part of the ISA. Earnings from an ISA are currently tax-exempt.

ISAs were introduced to the market in 1999, replacing TESSAs & PEPs.

• Savings Bonds

Are a kind of savings account,which is locked for a length of time and these savings bonds often offer higher interest rates than an instant access savings account.

Early withdrawals are often subject to penalties.