Given the long-term nature of pensions, combined with the restrictions on the amounts that can be contributed in a tax-efficient manner, utilising the tax advantages of wrappers outside a pension can play an important part in building an investment portfolio. These accounts can grow over the medium term and protect the real value of your money against inflation, something which is particularly important in the low-interest rate world we live in.
To start with, Individual Savings Accounts (ISAs) offer a valuable allowance which is a tax shelter, and we often encourage those in a position to use this benefit to do so. We can also discuss whether a Junior ISA (JISA) or a Lifetime ISA (LISAs) may be appropriate for either you or a member of your family to ensure that your money is invested effectively.
Beyond the above, more niche investments such as Enterprise Investment Schemes (EISs), Venture Capital Trusts (VCTs), and Business Property Relief (BPR) accounts can be appropriate for some individuals and we would be pleased to provide you with investment advice on any of the above if you Contact Us.
For information on the risks of investing, please click here.