A tax deferred is an allowance saved

One great advantage of an investment bond is tax deferral on the gains made, be they by reason of accumulated income or capital growth. And by clever use of this feature and timing when money is taken from the bond, a financial adviser can genuinely improve a client’s tax position. Although it is true to say that the reverse can also happen. In the past the UK government was always keen to tell us that everyone is entitled to earn a certain level of income before income tax becomes chargeable, by dint of them having a personal allowance. And anyone over age 65 had an increase in the allo...