Children born this year could become millionaires by their 43rd birthday if their families contribute to a pension for the first 18 years of their lives.
We’ve answered some typical questions we get asked about how to best use the ISA allowance to help make the most of the opportunities as this tax year draws to a close.
Rather than buying yet more toys for your children or grandchildren, why not consider setting up a tax-efficient Junior ISA for them?
Every tax year, we each have an annual ISA allowance. If you don’t take full advantage of using all or part of it in one tax year, you cannot carry it over to the next.
If you are a higher-rate taxpayer and have not carefully developed a tax planning strategy, then you run the risk of missing out on key tax allowances and paying more in taxes than you need.