Chapter 2

Question 1

Deposit-based savings accounts

Answer 1

• Savings
• Cash ISA
• Fixed Notice
• Fixed-rate Bond
• High-interest Regular Savings

Question 2

Pooled Investments

Answer 2

• Open ended Investment Funds
• Life Assurance & Pension Funds
• Endowments
• Investment Trusts

Question 3

4 Types of ISA’s

Answer 3

• Cash ISA
• Stocks & Shares ISA
• Innovative Finance ISA
• Lifetime ISA

Question 4

4 Approaches to Tax Planning

Answer 4

• Make maximum use of available tax allowances
• Choose most suitable investments
• Choose investments that provide tax-free returns
• Choose investments that qualify for tax relief