A pocket full of breaks

Article Abstract:

There are a number of United Kingdom investment vehicles with tax advantages such as Friendly Society savings plans, which allow small amounts to be saved, though they may have high charges. Tax-exempt special savings accounts (Tessas) and personal equity plans (Peps) are to be replaced by Individual Savings Accounts (ISAs) in April 1999. Tessas set up prior to that date can continue, and Pep holdings have to be transferred to ISAs. Pensions are also tax-efficient, though there are limits on amounts that can be saved. Venture capital trusts are a high-risk tax-efficient form of investment.

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Hatching the Isa egg

Article Abstract:

The United Kingdom government is developing Individual Savings Accounts (Isas), or savings plans with tax advantages. Changes have been made after consultation with the financial services industry from Dec 1997, when the plans were first announced. Isas have fewer investment restrictions than personal equity plans (Peps) which they are to replace. This should help simplify administrative tasks of companies involved in providing Isas.

Commercial Banking, Savings Institutions, Savings Account Services, Savings accounts

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Banish tax inquisition blues

Article Abstract:

Ways of dealing with Inland Reveue inquiries into tax returns in Britain are examined in detail.

Management

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