Advice Required....plus a bit of background.

[Deleted User]

I can recommend you buying the three John Edwards books on Pensions and Savings, he explains it via baby steps
And a couple of YouTube channels,
https://www.youtube.com/user/MeaningfulMoney/videos
https://www.youtube.com/channel/UC9OIwUcx-Uss7xj7s1P5XGw

It may seem daunting, but in six months time it will be relatively understandable

Eco_Miser

HCIMbtw wrote: »

And because you can invest up!to £20k per annum tax free in Stocks & Shares ISAs they are tax efficient. You can invest more than this, but tax on the interest gained above the 20k would be payable (just as it is non ISA savings interest above £1k I think?).

To be clear, you can only invest £20k per financial year in ISAs. All income and gains within an ISA are free of UK income tax and capital gains tax.

You can invest as much as you have outside ISAs, but then all capital gains over your CGT allowance (£12k) are taxed, all dividend income over your dividend allowance (£2k), and all interest (usually from bonds, also including bank interest) over your interest allowance (£1k, or £500, or £0) are subject to income tax (if you've very small earnings, your Personal Allowance also reduces tax on investment income).