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See also Investments for Children.
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Be aware that some banks and building societies do not tell you when they introduce new savings accounts which pay a better rate of interest than their existing accounts. The rates of some old accounts have become very low. We subscribe to Moneyfacts and may be able to tell you the current rates on your account.
Be aware that Endowment policies (often used to repay mortgages) can give rise to tax liabilities.
There is a market in second hand endowment policies and it is possible to build up a portfolio of such policies which planned maturity dates which make maximum use of the Capital Gains Tax Annual Exemption (£7,500 per individual in 2001/02). Maturity values, including terminal bonuses are not guaranteed, but they are a comparatively predictable investment. See Links for information about dealers.
Enterprise Investment Schemes (EIS) and Venture Capital Trusts (VCT) are dealt with by specialist brokers and are only for sophisticated investors. More details can be obtained from http://www.BerkeleyMorgan.co.uk and http://www.DavidAaronPartnership.co.uk or brokers http://www.teathers.com or http://www.eisco.co.uk .
A tracker fund maxi ISA with low charges - http://www.netpep.co.uk - this is not a recommendation of a specific fund or investment policy, just a note of a low charge fund for comparison - see effect of charges on that site.
Tax free Friendly Society Bonds are still available but are not as highly publicised ISA's. The investment limit is a modest £25 per month and the investment term is 10 years. Search Lycos for "friendly society" for contacts.
http://www.fee.ifa.co.uk Money Management Magazine is recognised as being a source of data for comparison of many investments and is used by most professional advisers.
There is a wealth of free information on the internet about quoted companies. One source is Hemmington Scott where you can look at Investor Information - Company Fundaments for a 5 year Summary P&L and Balance Sheet.
You can obtain details of over 1,350 listed companies free of charge from the Financial Times Annual Reports Service.
Anyone over 65 needs to compare their income to the age related tax allowance income limit above which their allowances will be restricted. It may be possible to increase the available total income by investing for gains, or tax free income, or by redistributing assets with a partner.
Watch this space for details on -
ISA's, Enterprise Zones.
Zero Dividend Preference Shares - can generate Capital Gains instead of dividend income. Planned Capital Gains can make use of the £7,500 annual exemption and can be used by minor children with funds in a bare trust.
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