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 Deposit Accounts To keep your money secure but watch out for falling rates if initial ‘bonus’ periods expire and also the FSCS protection of the £50,000 per account in the event of the failure of the bank or building society. Cash ISAs Hold Cash and earn interest tax free up to £5,100 per person from April 2010. Again, watch out for falling rates as initial ‘bonus’ periods expire. Stocks & Shares ISAs Invest in Stocks & Shares directly or via collective investment funds. No Capital Gains Tax payable on encashment and you can use the plan to generate tax free income in the future, valuable in today’s increasing tax environment. Up to £10,200 per person can be invested from April 2010 or this can be split between Cash ISAs and Stocks & Shares ISAs. Savings Plans For regular savings ISAs are still very suitable. If for any reason you do not wish to use these there are a range of other regular savings accounts you can use for yourself or for children. Open Ended Investment Companies/Unit Trusts These are ‘collective’ investment funds which you can usually hold within an ISA or separately outside of an ISA. Investment Bonds Can be useful to consider for lump sum investment for tax planning purposes. The Financial Services Authority does not regulate Deposit accounts and some forms of Individual Savings Accounts.
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