An emergency fund is very important as it is a pot of money to fall back on should you either find that your income reduces, such as losing your job, or if you have to pay for something unexpected, such as having to replace your boiler.

In simple terms, a platform is an IT solution that allows clients to consolidate their investments and manage these in one place. In reality, a platform is a service rather than a product.

An investment bond provides a flexible method of investing your money, with the potential for growth over the medium to long term. It is designed to allow your capital to grow and give you the ability to take regular, tax-efficient withdrawals is required.

An investment bond provides a flexible method of investing your money, with the potential for growth over the medium to long term. It is designed to allow your capital to grow and give you the ability to take regular, tax-efficient withdrawals is required. An investment bond offers the opportunity to take advantage of several tax benefits, including arrangements which can help to reduce your inheritance tax liability.

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.

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.

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 circumstances. So here is an overview of the different options.