Save it for a rainy day

There are so many different types of savings and financial investments that it is wise to seek advice.

National Savings Products

The least risky of investment options are those offered by National Savings, which raises money on behalf of the UK Government.

While investment returns are not spectacular and some involve tying your money up for long periods of time they are nevertheless stable and in some cases can be paid tax free or paid without deduction of tax (although taxable), which is beneficial if you are a non taxpayer.

They include National Savings Bank accounts and various forms of savings and Income Bonds. These savings and investment products are backed by H.M. Treasury, which makes them the most secure cash products available in the UK.

The Financial Services Authority does not regulate National Savings products.

Levels and bases of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor.