chapter 16
The tax-efficient DIY investor
There is no point being a brilliant investment-picker if you blow a chunk of your winnings through paying tax you could have avoided. Getting your tax strategy wrong can wipe out years of hard-earned investment gains, so it is essential to put your money in the tax wrapper (or wrappers) to suit your objectives.
It may not feel like it, given some of the statements coming from the government, but while tax evasion is illegal, tax avoidance is not. Avoiding tax does not necessarily mean joining the comedians, pop singers and TV stars in their aggressive offshore tax schemes – for most people it wouldn’t be worth it because of the costs involved.
I adopt a simple rule when it comes to tax planning schemes. ...
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