What is a Pension?
Essentially, a pension is just a type of savings plan to help you save money for later in life, typically, your retirement. It also has favourable tax treatment compared to other forms of savings. There are different types of pensions available, depending on your...
What is an Individual Savings Account (ISA)?
An ISA is a tax-efficient savings account. When you invest money into an ISA, you do not pay tax on any income that the ISA generates. Furthermore, when you take money out of the ISA, any growth that the ISA has generated does not attract Capital Gains Tax. How much...
What is a General Investment Account (GIA)?
Unlike ISAs, pensions or bonds, a General Investment Account (GIA) does not offer any tax benefits. You pay income tax and capital gains tax in accordance with your personal tax situation. So why would I invest in a GIA? When you have utilised your ISA allowance, or...