Are ISAs the only tax-free savings route?

bud-miser

Anyone help me demystify the Scottish Friendly bumph which accompanied the freebie pen I sent for?

The claim seems to be that their 'Scottish Bond' is a tax-free vehicle you can invest in - OVER AND ABOVE the annual ISA allowance.

This is a new one on me but then I haven't been paying too much attention to the savings scene until just recently.

Comments?

masonic

More tax free investments here.

As always, the question to ask is whether these products beat the net rates of their best taxed counterparts.

bud-miser

masonic wrote:

More tax free investments here.

As always, the question to ask is whether these products beat the net rates of their best taxed counterparts.

Yes, needless to say. Thanks.

bud-miser

Just looked more closely. It appears to be a stockmarket-related investment plan. Think I'll give it a miss.

humfer

Can always try premium bonds although not strictly savings but I think the stats show an 'average' return of 3%

EdInvestor

Friendly society bonds are usually poor performers with high charges that negate the tax break unfortunately.

Jake'sGran

EdInvestor wrote:

Friendly society bonds are usually poor performers with high charges that negate the tax break unfortunately.

I seem to be agreeing with you a lot today but just wanted to say that the only time I invested in a friendly society bond the performance was very poor.
If the mail the original poster received was unsolicited - another reason to give it a miss in my opinion.

dunstonh

I seem to be agreeing with you a lot today

As it happens, so do I and when Ed and I agree on something being bad you know it really has to be bad.

bud-miser

Jake'sGran wrote:

I seem to be agreeing with you a lot today but just wanted to say that the only time I invested in a friendly society bond the performance was very poor.
If the mail the original poster received was unsolicited - another reason to give it a miss in my opinion.

Nope, as mentioned it came with a freebie I'd requested. Fair enough.

Starside

you are allowed to invest £25 per month into a freindly society for 10 years tax free. But is this better than interest taxed accounts?

dunstonh

Starside wrote:

you are allowed to invest £25 per month into a freindly society for 10 years tax free. But is this better than interest taxed accounts?

already answered. read the posts above.