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Personal finance: Three ways of saving

ISAs, SIPPs and saving for the kids—all can offer attractive options. Below, experts give guidance on how to proceed

By Prospect   March 2012

At the very least, ISAs allow investors to be tax effective Danny Cox, head of advice, Hargreaves Lansdown

The government offers generous tax breaks to encourage use of Individual Savings Accounts (ISAs). These are not investments in their own right, but more like a wrapper in which to shelter savings and investments from tax.

An ISA has these main benefits: no capital gains tax and no further tax on any income; they can be cashed in at any time; they don’t need to declared on a tax return; for the over 65s, ISA income does not affect age-related allowances.

ISAs…

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