Through the looking glass

Article Abstract:

Saving may be necessary to purchase a home, or pay for a major expenditure, but United Kingdom savers get low returns after inflation and tax are taken into account. This means that they should select savings accounts with care. Individual savings accounts (Isas) have been introduced to promote saving through tax benefits, and a limit of 3,000 pounds sterling for cash savings in building societies and banks drops to 1,000 pounds in 2000. The stock market may offer far higher returns than deposit accounts, so should be considered by investors with large amounts of cash.

Portfolio management

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Tessas step out

Article Abstract:

United Kingdom tax-exempt special savings accounts (Tessas) are to be replaced by Individual Savings Accounts (Isas). Escalator Tessa pay increasing amounts of interest at set rates, and there are also equity-linked Tessas with returns linked to changes in the FTSE 100 stock prie index. Investors should assess the likely direction of interest rates before committing themselves. Investors withdrawing from equity-linked Tessas prior to the end of a five-year investment period have to pay stiff penalties.

Commercial Banking, Savings Institutions, Savings Account Services, Tax planning

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