Tax Shelters

BigSpenderLittleSpender

What are the the different tax shelters out there?

eskbanker

The two most obvious ones are ISAs and pensions, but there are less mainstream specialist tax-advantageous mechanisms such as VCTs.

What's the context?

BigSpenderLittleSpender

eskbanker said:

The two most obvious ones are ISAs and pensions, but there are less mainstream specialist tax-advantageous mechanisms such as VCTs.

What's the context?

Just a general enquiry, obviously putting as much as you can in tax shelters is better than non tax sheltered products, is it not, or am I missing something? 🤔

Thrugelmir

BigSpenderLittleSpender said:

eskbanker said:

The two most obvious ones are ISAs and pensions, but there are less mainstream specialist tax-advantageous mechanisms such as VCTs.

What's the context?

Just a general enquiry, obviously putting as much as you can in tax shelters is better than non tax sheltered products, is it not, or am I missing something? 🤔

Never let the tail wag the dog. The more complex the scheme the more administration there'll be.  Administration costs money. Maximising your annual CGT allowance using a GIA costs minimal sums. 

solidpro

Gibraltar. 

BigSpenderLittleSpender

solidpro said:

Gibraltar. 

?????????

grumiofoundation

BigSpenderLittleSpender said:

eskbanker said:

The two most obvious ones are ISAs and pensions, but there are less mainstream specialist tax-advantageous mechanisms such as VCTs.

What's the context?

Just a general enquiry, obviously putting as much as you can in tax shelters is better than non tax sheltered products, is it not, or am I missing something? 🤔

But not all tax shelters are equal.

So you need to decide which is more appropriate based on your aims for the money and the various advantages/restrictions of the accounts. 

BigSpenderLittleSpender

grumiofoundation said:

BigSpenderLittleSpender said:

eskbanker said:

The two most obvious ones are ISAs and pensions, but there are less mainstream specialist tax-advantageous mechanisms such as VCTs.

What's the context?

Just a general enquiry, obviously putting as much as you can in tax shelters is better than non tax sheltered products, is it not, or am I missing something? 🤔

But not all tax shelters are equal.

So you need to decide which is more appropriate based on your aims for the money and the various advantages/restrictions of the accounts. 

So is there a list of such shelters so I can decide? 😉

grumiofoundation

BigSpenderLittleSpender said:

grumiofoundation said:

BigSpenderLittleSpender said:

eskbanker said:

The two most obvious ones are ISAs and pensions, but there are less mainstream specialist tax-advantageous mechanisms such as VCTs.

What's the context?

Just a general enquiry, obviously putting as much as you can in tax shelters is better than non tax sheltered products, is it not, or am I missing something? 🤔

But not all tax shelters are equal.

So you need to decide which is more appropriate based on your aims for the money and the various advantages/restrictions of the accounts. 

So is there a list of such shelters so I can decide? 😉

The 2 most obvious, ISAs and pensions, already listed in first reply. Lifetime ISA another option.

To parrot the first reply again - if you state some context; your objectives and some basic information I am sure people will suggest appropriate shelters/ideas.

Eco_Miser

BigSpenderLittleSpender said:

solidpro said:

Gibraltar. 

?????????

It's a tax shelter.

Really only relevant for multi-millionaires though.

The Cutting Tax board https://forums.moneysavingexpert.com/categories/cutting-tax may be more relevant for you.

jamesd

BigSpenderLittleSpender said:

Just a general enquiry, obviously putting as much as you can in tax shelters is better than non tax sheltered products, is it not, or am I missing something? 🤔

Shelters can cost more or be more restricted than non-shelters with the cost offset by the benefit in suitable case. Onshore or offshore investment bonds, perhaps being an example, where there are severe adverse costs for incorrect use but potential benefit sometimes from correct use.