Getting the most from your savings

Getting the most from your savings

Have you received a financial windfall? Where are you fortunate enough to save more during the lockdowns? Here I compare different types of investment accounts in order to make the most of extra savings.

Use your ISA allowance.

Every adult can contribute £20,000 into an individual savings account (ISA) each tax year.
You can also contribute up to £9000 into a junior ISA each year for under 18s.
And ISAs has the advantage that all income and gains are tax-free.
You should maximise your ISA contribution every year.

A family of 4 (two adults and two children) can invest up to £58,000 in ISAs  per year.

Pension top ups.

Pension contributions attract tax relief at your marginal tax rate (20%, 40% or 45%) up to certain limits.

Expert planning help may be required to stay on top of various tax rules.


An investment ISA beats an investment account, while offering similar flexibility and access. Pension contributions offer even better returns, especially for higher or additional rate taxpayers. You cannot access your pension until age 55 (57 from 2028)

Contact me if you would like to discuss the best way to structure your investments. Calendly – Marc Burman

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