Tax residency in the UK affects how much tax individuals pay on their income, with different rules for residents and non-residents, governed by the Statutory Residence Test.
This article outlines various savings strategies for UK parents to secure their children's financial futures, including Junior ISAs, regular savings accounts, and investment plans tailored to different goals and risks.
ISAs provide UK taxpayers with tax-free savings and flexible investment options, making them a vital component of retirement planning alongside pensions.
Calculating your State Pension is essential for retirement planning, relying on National Insurance contributions and qualifying years for the amount received.
ISAs are tax-efficient savings accounts offering UK taxpayers various options, such as Cash ISAs and Stocks and Shares ISAs, to protect wealth and maximize tax-free growth in the 2024/25 tax year.
