Some of the available opportunities for your savings and investments.
One of your most essential financial goals is to develop your savings and be able to retire when and how you want. But achieving this goal takes planning and perseverance which could be possible through saving and investing.
Details of investment maximums for ISAs, the Junior ISA, Lifetime ISA and the Help-to-Buy ISA.
An ISA is a tax-free investment vehicle. When you invest your savings, shares or life insurance, as well as all authorised retail investment schemes and UK Real Estate Investment Trusts into an ISA, your income and gains from the investments are free from income tax and capital gains tax.
When it comes to investing, there is more to life than ISAs, stocks and shares. Alternative investments have risen in popularity in recent times, especially among those who have money to invest and do not wish to invest in the stock market or property.
Including ISAs, pension contributions, enterprise investment scheme (EIS), seed enterprise investment scheme (SEIS) and venture capital trusts (VCTs).
Savings income (which includes all types of interest) is normally paid gross without deduction of income tax. The personal savings allowance provides a nil rate of tax on the first £1,000 of savings income for basic rate taxpayers and £500 for higher rate taxpayers, with none available to additional rate taxpayers. If your only taxable income arises from savings income, or your other income is very small the amount liable to 0% tax may be as high as £5,000.
Tax relief for reinvestment of gains in qualifying schemes was introduced to stimulate investment in small businesses, and was incorporated into the enterprise investment scheme (EIS), as EIS deferral relief.
This section provides an analysis of the tax reliefs afforded by venture capital trusts, the enterprise investment scheme and seed enterprise investment scheme, and highlights the important differences between the individual schemes.
Anderson Ross is more than just a financial and accounting firm. We have the knowledge and experience to make your life simpler by educating you about your alternatives, relieving the burden of tax assessments, and providing you the flexibility to do what you do best, whatever that is.
We're just a phone call away; tell us about your present circumstances, and we'll help you figure out what measures to take next.
We provide you with a tax-effective solution that allows you to be as creative as possible.
We take care of the tax and accounting headaches so you can focus on what you do best: operating your company.