Unfortunately the tax man doesn’t ignore investments.  You need to be aware that you will be taxed on any income or growth you make on most savings and investment products, sometimes before you even receive your money.  So if you’re a taxpayer then you should be considering tax free or tax efficient products like ISAs first.

Your tax position isn’t fixed in stone for life and there can be other ways to be tax efficient.  It may be that you will pay less tax once you retire, so plan accordingly. You do need to be aware that tax rules may change in the future. What taxes are there?

The main taxes you need to think about are:

• Income tax
• Capital Gains tax
• Inheritance tax